credit ratings after bankruptcy
March 6th, 2008 by Questions
My husband I filed joint bankruptcy. We each had some small debts in our names only but the majority were joint. We had no student loans or car payments that we were making (nothing that carried through the bankruptcy).
We each applied for a secured mastercard. My husband was approved for a $300 card and had to put $300 down in security funds.
I was approved for a $750 card and had to only put $75 down in security funds.
My husband works full time and I part time – his income is more than 3 times what mine is.
I had assumed that post-bankruptcy, we would both be in the same boat, our credit ratings would be the same (equally bad) and so we would both end up getting the same card and both have to put the large security deposit down. I was shocked when I was approved for a card with a larger limit and less down than him!
Was I mistaken in believing our credit ratings would be the same? Could I actually have a better rating than him causing me to get the higher credit card limit?
Virtually all of the debts listed on my husband`s credit report – both those that were included in the bankrupty and those that were paid off long before – are joint with me – and he didn`t have much on his credit report.
I on the other hand have a lot of things listed on my credit report – OSAP loans, student loans issued by a bank, car loans – all paid off prior to the bankruptcy. Would those things in my past give me a better credit rating after bankruptcy?
We were just discharged about 9 months ago…