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     | Tuesday, January 23, 2001 - 11:21 am  My husband and I are about to file for Chapter 7 bankruptcy. He has tons of medical bills, I have a repo, and we are about to have a repo together. I have been browsing this board for about a month now, and was wondering if anyone had any good advice about the best way to re-establish credit once we've cleared bankruptcy so that we can get approved for a mortgage in the future.
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| | Tuesday, January 23, 2001 - 07:38 pm I highly recommend you read Improving Credit Scores. I know it's very long, and I'll try'n put it on a web page soon. It'll help if you can print it out. If you have any specific questions, please post. As well as any typos ... I'm constantly updating that posting, please let me know if something doesn't make sense.
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| | Saturday, January 27, 2001 - 03:49 am You will still be able to get credit only be prepared to really pay for it. I strongly urge you to start a budget and stick to it. If you have cash in America you can get almost anyone to lend to you. Cars --Ford has a post bankruptcy program available in some states. GM and Chrysler currently don't. Lenders are out there but the rates are killers--24%. If you have a 401k after bk you can loan yourself the $. It's a much cheaper rate. Housing--you'll see after doing the research that you can be "A" credit about two years following discharge. In the meantime, you will need to start working and cleaning up the credit reports--almost a full time job in exasperation and stupidity. Credit Cards--Providian, Orchard and a few others are out there. I would strongly urge you to join a credit union and tell them your story about what happened. I know some have had incredible luck with them. Last, you should be aware that there are so many like us who have been placed in ch 7 through unfortunate circumstances. when I read recently that the idiot republican senators were going to reform ch7 i almost threw up. they haven't a clue as to why most are there. it's all about who contributes to their stupid reelection campaigns. they all, both dems and repubs, are a bunch of thieves and hypocrites. good luck and post often.
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