I had my bk discharged 1/12 and I just got around to starting the cleanup process. Started disputing some items with the reports I pulled. Anyways, this week I received an offer from Cap1 which prompted me to join myfico and start monitoring. I was surprised when I got approved. I have been reading some of the posts, and wondering where to go to next.
My plan is to use about 10 percent of the CL which is 750 (will go up after 5 on-time payments) and PIF every month for the next six months and then apply for something else but not sure what.
Don't have a mortgage, have an auto loan which was reaffirmed, and basically only have about 4000 dollars in school loans.
My EQ score is currently 531 as of today.
Any advice would be appreciated....
You seem to be on the right track. Continue to make on-time payments and you will see your scores jump dramatically. I filed in 1/12 and was discharged 4/12. You can see my scoresblow. My wife is about 20 points higher then me on EQ and TU.
Nice jump. I am hoping I have a similar increase as well. I wish I would have gotten to this quicker. Will post scores as they increase over the months.
Just wanted to update my post. Will be using it to document my progress.
As of today, I have a capital one platinum unsecured card with 750 CL, a credit one card with 400 CL, and a credit builder loan (1000 for a 12 month term).
I will be gardening with these for 11 months and then check my scores.
I managed to dispute 3 collections that were reporting after my bk 7 discharge. I also have a few baddies that will be falling off first half of 2013 so I am expecting small boosts once these occur. My cards have not reported yet, only the credit builder loan. Expecting a boost in score in the next few months as well from them.
Not sure but hoping to reach my goal for 2012 or at least make it out of the 500's.
How long after you discharge did you apply for capital one or did they send you a offer? The credit builder loan is with who? I was discharge on June 26 my credit jump almost 70 points I looking for more.
Congrats on that big jump. I applied about 6 months after discharge and I was getting offers in the mail (I sitll keep getting them). If you are thinking of applying, use their pre-approval form. As for the credit builder loan, I got it from aspirefcu.org . I opened a savings account with them with 5 dollars.
Good luck on your rebuilding journey....
Thanks for your reply We are trying to make everyday count and make some kind of progress toward having good creditably.
Same here. I am rebuilding and want to get in decent shape to purchase a home in two years. I think I am obsessed as I check my report constantly and always seem to come up with a new plan on removing derogs. Have had success removing a couple of collections and one account that I was listed as an AU which got charged off. The rest show as IIB and half of them should be coming off next year. It's kind of embarrasing the amount of time I spent reading these forums but I've learned so much from everyone else.
Just keep working at it and whatever we do let's make sure you don't miss a single payment.
Yup that goes for me as well. My credit is stopping me from starting my own business so I hope that I can make a lot of progress with in the next 2 years. We also would like to build our house in Hawaii which everyone knows property is very expensive in Hawaii.
Well good luck to you in both your business and home plans.
PS. Hawaii is on my list for a vacation - will probably do it when I get a nice travel rewards card