topic Re: Kinda Bummed...:( in Bankruptcy

Kinda Bummed...:(

MzCharming — Mon, 20 Aug 2012 20:57:32 GMT

Hello All,

Went today after working dilligently to submit all information to the CRA to apply for my first CC. First Premier... The app said that some information could not be verified... Does anyone know what that means? I was super excited to get a card... ANY CARD after this fiasco and start using it and building some type of positive history. Now, I am in the dumps about it and wondering if CH.7 was the best thing and where to start with the credit rebuild process. I want to get something reporting to show that I am getting some positive history going. Sigh. I don't want to hat 450-500 credit scores forever. Can anyone point me in the right direction?

Thanks

ANW

Re: Kinda Bummed...:(

Gabbman — Tue, 21 Aug 2012 01:42:34 GMT

first thing .. Dont be bummed. Its a road that many have travelled. First read as many of the posts here as you can. There is tons of good info. Secong the want to verify that you are who you say you are. This is nothing to worry about give them a call and answer the id questions. stay positive. try cap one as many of us have used for our first post bk card . they have a credit steps program. read the post tons of good info that has helped me rebuild to a 625 equifax and a 680 fico in less than a year. Its possible

Re: Kinda Bummed...:(

Comet21 — Tue, 21 Aug 2012 14:06:18 GMT

I agree, I would not be bummed out. You are going to get rejections, but this does not sound like a rejection. Credit One told me the same thing but I was able to provide them with the information and I was approved for a card with a $500 Limit. Your scores will go up, just pay on time and follow the advice given on this board.

Re: Kinda Bummed...:(

VegasTeo702 — Mon, 27 Aug 2012 20:43:52 GMT

Try Creditone and Merrick Bank. They approved me right after BK. Aside from them, I cannot get any other loans. Not even auto so expect a serious uphill battle obtaining any credit.

Re: Kinda Bummed...:(

Rhaeny — Sat, 08 Sep 2012 16:46:43 GMT

VegasTeo702 wrote:
Try Creditone and Merrick Bank. They approved me right after BK. Aside from them, I cannot get any other loans. Not even auto so expect a serious uphill battle obtaining any credit.

What are your scores now? What is your utilization? When were you discharged? Have you done any cleanup on your reports? I have heard this so many times that I am just curious as to where you stand right now. It may be that something is just not reporting correctly and keeping your scores down.

Re: Kinda Bummed...:(

Trons — Sat, 08 Sep 2012 17:09:56 GMT

BTDT. I was denied a secured CC a year after my BK7. I didn't know that companies had different criteria, so I thought if one denied me, they all would. I waited another year and finally started (almost 2 years) getting preapproved offers with high IRs and AFs. That got me a positive history started, but had I found this site sooner, I'd be 2 years ahead of where I am now...Another lesson learned.

Don't let it get you down, view it as a challenge.

Re: Kinda Bummed...:(

powellfamily2009 — Mon, 10 Sep 2012 02:26:49 GMT

Read my signature......

All of these CC's I've gotten within the last 12-16 months and am currently in the 24th month of a 60 month Ch 13 plan. Now because of the BK, my DTI ratio is now VERY good as I have gone through and disputed my credit files to ensure all of the trade lines are reporting correctly; i.e. everything in Ch 13 and no active balances. That made a huge difference for me. Still have a little ways to go on my Experian file, but Ill get there. All told I have $2100 AC on all 4 cards and I never use more than $400, which is paid in full every month. Sounds to me like you need to start working on your credit files to make sure they are as squeaky clean as possible. Good luck to you.....

Re: Kinda Bummed...:(

powellfamily2009 — Mon, 10 Sep 2012 02:35:31 GMT

BTW.... I forgot to say keep your head up. This is most definitley a turtles race and is one that the hare will not win. The hardest thing for me is not rushing. If I let the old me win, I would be filling out app after app, day after day; until there were so many inq's on my report there wouldn't room for anything else. I fight that urge on a constant basis. Make sure your files are clean and the rest will follow. Also, even though Orchard Bank was bought by Cap One, their site is still up and taking apps. Try them and see what happens. They gave me a $300 CL literally 4 months after filing my Ch 13. I don't care how high their fees are. Iwill be a LOYAL customer for life because they took a chance on me.....

Re: Kinda Bummed...:(

Rhaeny — Mon, 10 Sep 2012 02:37:24 GMT

powellfamily2009 wrote:
Read my signature......
All of these CC's I've gotten within the last 12-16 months and am currently in the 24th month of a 60 month Ch 13 plan. Now because of the BK, my DTI ratio is now VERY good as I have gone through and disputed my credit files to ensure all of the trade lines are reporting correctly; i.e. everything in Ch 13 and no active balances. That made a huge difference for me. Still have a little ways to go on my Experian file, but Ill get there. All told I have $2100 AC on all 4 cards and I never use more than $400, which is paid in full every month. Sounds to me like you need to start working on your credit files to make sure they are as squeaky clean as possible. Good luck to you.....

What is the AMEX prepaid card and what are the qualifications? Does it report to all 3 CRA's? I bk'd Cap One so I don't think that I will get that one back anytime soon. I have credit one for $500 and a store credit card from The Avenue for $150 but since I haven't gotten my discharge papers.....which should be very soon I haven't really been trying to hard for rebuilding. I had a long 60 plus months Ch 13 and am so glad to be done with it.

Re: Kinda Bummed...:(

Rhaeny — Mon, 10 Sep 2012 02:38:30 GMT

powellfamily2009 wrote:
Also, even though Orchard Bank was bought by Cap One, their site is still up and taking apps. Try them and see what happens. They gave me a $300 CL literally 4 months after filing my Ch 13. I don't care how high their fees are. Iwill be a LOYAL customer for life because they took a chance on me.....

Do you have a link for that?

Re: Kinda Bummed...:(

powellfamily2009 — Mon, 10 Sep 2012 03:19:56 GMT

I stand corrected on the Orchard Bank site. Just went back to get that link and realized that site was only to login and manage your account. VERY sorry about that. The AMEX prepaid DOES NOT report, but they keep track in house. I was told that generally after 12 months the goal was to move people that demonstrate that they have desposable income (shown by having money deposited regularly) and never have declines on the card into an AMEX charge card. Plus aside from the little "pre paid" emblem on the R-side of the card, the thing looks almost exactly like a regular AMEX card. Not that something like that should matter, but lets fact it; it does....lol. Sorry again about the Orchard Bank thing.....

Re: Kinda Bummed...:(

powellfamily2009 — Mon, 10 Sep 2012 03:24:03 GMT

Also Rhaeny....

I noticed there seems to be a big spread in your scores. Almost 100 points if memory serves..... Whats up with that if you don't mind me asking? Have you looked into that at all. I just noticed my Experian was a good deal lower yesterday than the rest and found out they were reporting a lot of stuff different and incorrectly. Just throwing that out there.

Re: Kinda Bummed...:(

Rhaeny — Mon, 10 Sep 2012 03:31:58 GMT

powellfamily2009 wrote:
Also Rhaeny....
I noticed there seems to be a big spread in your scores. Almost 100 points if memory serves..... Whats up with that if you don't mind me asking? Have you looked into that at all. I just noticed my Experian was a good deal lower yesterday than the rest and found out they were reporting a lot of stuff different and incorrectly. Just throwing that out there.

Ha!! It's that skanky Experian!!! Those idiots! I am fighting that right now. I have two accounts from CU's that are not showing IIB and posting 180 days late or KD for 5 1/2 years. I am so ready to explode. If these accounts were corrected I would have to see one heck of a jump in scores. But yea I'm working on it....slowly and painfully but working on it.

Oh and some of the same accounts on Equifax and TU are reporting zero balance and IIB but oh noooooo.....not EXP!

Re: Kinda Bummed...:(

Shogun — Mon, 10 Sep 2012 20:58:52 GMT

Experian is my least favorite too!

Re: Kinda Bummed...:(

MzCharming — Tue, 18 Sep 2012 01:27:25 GMT

Hi Everyone!!!

I am sorry that I am just now repying to all this!

First off, I have not gotten any offers in the mail just yet.. :/ Just had my 341 meeting and I am In the process of waiting on alot of my information being updated with the CBs.

I just applied for a PNC secured card and I am waiting to find out the status of that. Maybe another week or two.

Right now, I have no new credit and I am not even sure where to look. I have tried BOA (denied secured) First Premier (denied), Cap One Secured (denied) I don't know who else to try, If anyone has any addl information. Please let me know.

Thanks!

ANW

Re: Kinda Bummed...:(

Rhaeny — Tue, 18 Sep 2012 01:38:08 GMT

MzCharming wrote:
Hi Everyone!!!

I am sorry that I am just now repying to all this!

First off, I have not gotten any offers in the mail just yet.. :/ Just had my 341 meeting and I am In the process of waiting on alot of my information being updated with the CBs.

I just applied for a PNC secured card and I am waiting to find out the status of that. Maybe another week or two.

Right now, I have no new credit and I am not even sure where to look. I have tried BOA (denied secured) First Premier (denied), Cap One Secured (denied) I don't know who else to try, If anyone has any addl information. Please let me know.

Thanks!
ANW

You need to clean up your credit reports first to make sure everything is reporting accurately. Until then you are wasting hard pulled inquiries that are bring your scores down even further.

Re: Kinda Bummed...:(

powellfamily2009 — Tue, 18 Sep 2012 19:18:58 GMT

I couldn't agree with Rheany more. Try the AMEX prepaid and clean up your credit after your plan is confirmed in BK.

Re: Kinda Bummed...:(

MzCharming — Fri, 28 Sep 2012 19:25:27 GMT

Thank you GOD!!!!!

My very 1st SECURED (PNC) card was approved today and is being sent out!!! I feel like running about the place!:smileyvery-happy:

Re: Kinda Bummed...:(

Rhaeny — Sat, 29 Sep 2012 00:06:53 GMT

MzCharming wrote:
Thank you GOD!!!!!

My very 1st SECURED (PNC) card was approved today and is being sent out!!! I feel like running about the place!:smileyvery-happy:

Congrats, but now look at cleaning up your reports. I bet there are items on there not being reported correctly. At this point if you keep applying you are doing yourself more harm than good.

Re: Kinda Bummed...:(

MzCharming — Sat, 29 Sep 2012 00:39:09 GMT

I am most def about to buckle down on all three reportsd. My first round of disputes are back and stupidly, I disputed everything at one time. Rookie mistake, I know! Now I am in the process of working on the second round of disputes... by mail this time and my first round of re-age/goodwill letters on the stuff (student loans) that is left