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I filed in March 2007 and expect my actual discharge letter in the mail any day now-wait, is that the mailman? My bankruptcy already shows up on my credit report and my credit score isn’t so terrible! Specifically, I want to know if its o.k. to start applying for ONE SINGLE credit card and a car loan. That’s it. I’m rebuilding my credit on those two things. Period. Thanks.

4 Thoughts on How long after filing a personal (chapter 7) bankruptcy do I have to wait to apply for credit?
  1. Reply
    Kevin M
    August 29, 2011 at 1:33 am

    as for the credit card, you won’t be able to get one except for a secured credit card, meaning you’ll have to give them money and then borrow against that money, and they will report it to the credit burrow(sp?) as a credit card.

    As for the car loan, you’ll be able to get one but you’ll have to put down a large deposit and have to have a co-signer.

  2. Reply
    August 29, 2011 at 1:54 am

    Capital One is a good credit rebuilding company……
    It took me about 3 years to actually get a “credit card” without all the outrageous fees and interest rates after a chapter 7. I’m about 5 years into it, and I have managed to get alot of credit through several credit card companies, but I haven’t tried to get a carloan yet…..
    I had excellent credit before my divorce but everything was in my name and I couldn’t afford all the payments. Don’t know if previous credit rating helped me or not….
    The rebuilding process sucks!!! I know that much!
    Good Luck!

  3. Reply
    August 29, 2011 at 2:33 am

    A family members experience, as I recall, was that she started receiving credit card offers right away. Lots of these companies see a bankruptcy and know that these people are going to be facing the exact question you asked. You may find interest rates a bit insane, or you might have a better experience, who knows. If your concern is that getting one is going to be a problem, unless your situation is some unprecedented lunacy, you very likely have nothing to worry about.

  4. Reply
    ron d
    August 29, 2011 at 3:29 am


    order your credit report and correct the information on it. The creditors will not do it for you. That should speed up things….

    With a 640 FICO you can buy a house today….No money down……..

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