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BizAttorney
BizAttorney, Attorney
Category: Legal
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Experience:  Over 12 years of business and legal experience.
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Im uilding my credit after a bankruptcy that we went through

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I'm uilding my credit after a bankruptcy that we went through 2.5 years ago. What type of credit score and length of time from chapter 7 would I generally need before I could get an auto and/or loan for a small piece of land?

BizAttorney :

Good evening! I can help you out with your legal question tonight.

BizAttorney :

It will depend on the entity loaning you the money to buy the automobile or land. However, after a Chapter 7 bankruptcy you actually become more attractive to lenders since you had all of your debts wiped out. Typically lenders only need two years of good credit history in order to loan again to buy a piece of land or home.

BizAttorney :

So because your bankruptcy ended 2.5 years ago, most lenders will loan to you again if your score is high enough.

BizAttorney :

They typical range for credit is:

BizAttorney :

Very Poor -300-575

BizAttorney :

Poor -575-625

BizAttorney :

Fair

BizAttorney :

625-700

BizAttorney :

Good 700-750

BizAttorney :

Excellent 750-850

BizAttorney :

So you can typically get a loan when you have a score between 600-650.

BizAttorney and 3 other Legal Specialists are ready to help you
Customer: replied 4 years ago.
Do you have a creative ways to build credit outside the norm, I know all the normal ways.
No, just the standard answer: gas cards, department store cards, keep paying your house and car payment, etc.
BizAttorney and 3 other Legal Specialists are ready to help you