BK7 discharged today*

[Shantel870]

Hello all, my Bk7 was discharged today 5/20/2013 and I am so lost as to what I need to do to start rebuilding my credit. I wanted to know if anyone could provide any insight to what I should do and when I should do it to get started on rebuilding? Please help.

[ChistineNJ]

Congrats! If you read these boards you will find a wealth of knowledge. I beleive the first step is to correct any inaccuracies on all 3 reports all accounts should be reporting IIB.

[Shantel870]

Thanks,Is there any time frame to start checking them? I am lost kind of.

[ChistineNJ]

I filed Bk 3/26 when i filed i had 33 negitive accts. to date i have 26 , after filing some fell off, make sure all accounts are reporting IIB with a zero balnce. Pull all 3 reports from annualfree credit report i beleive you can pull at least 2 the other 1 you can pull if you subscribe to a credit monitoring service, you can even get a free trial. If your accounts are reporting incorrectly dispute them, there will be a pulldown menu with iib as a option. After you correct all your reports your ready to rebild

[grassfeeder]

in addition to pulling your free reports and dispute any inaccuracies - go to your local credit union and get yourself a secured credit card and use it very sparingly.  keep your utilization below 10% each month.

[Shantel870]

Is there a certain timeframe that I should wait to pull those reports and a secured cc with a credit union, how does that work?

[aad041109]

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@Shantel870 wrote:
Is there a certain timeframe that I should wait to pull those reports and a secured cc with a credit union, how does that work?

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If I remember correctly, I waited 2 months, after my BK discharge, to start fixing my credit reports. IMO, it was enough time for all my accounts to update their records and report the dishcarge accurately.

I would get a secured card asap though. Once you get a secured card, it will start reporting positive activity on your credit report again, then it's just a time-game after that. I got a secured card through a local Credit Union, and 6-8 months later, I was approved for a Cap 1 card with a low limit, but it was unsecured. So I was very happy with that. 6 months after the Cap 1, I applied for and recieved a Merrick Bank CC and also an Orchard Bank CC. All the while, I was monitoring my credit report and made sure that it was heading upwards. I stayed in the garden for almost 2 years (with no apps) and my credit score and credit lines went up significantly.

Now im trying to get into the 700 club and I'm hoping to get some Prime cards by next year.

I wish I could show you how bad my Credit File was. I was able to repair and rebuild with this forums help. If I can do it, you definitely can too. Hang in there and be patient. I hope this helps and good luck on your rebuilding journey.

[ChistineNJ]

AAD041109 should I apply for a secured card now? My BK should DC 6/18 lawyer told me 6/25. Like i said earlier ive cleaned up my reports must 1 left the stubborn
Portfolio recovey/Hsbc TL scores are 591TU, 588EQ, 587Exp.... I joined a CU already is it too soon for me?

[grassfeeder]

Don't get a card until you're discharged....

I jumped the gun and my local CC actually closed it down and included the brand new account in the BK.  The day after I was discharged, they allowed me to reapply and granted it.

Too many moving parts, just wait till discharge and you're good to go.