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Fighting Frustration 9 Mos Post BK7 Discharge

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Anonymous
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Fighting Frustration 9 Mos Post BK7 Discharge

I am thankful for these boards.  I have learned so much since my BK7 and wish I had of known about them previously - better late than never!!!  My BK7 was discharged in Jan 15.  I have read through and am following to the best of my abilities the "From BK to 700 in 24 months" thread.  The successes of the members here give me confidence to move forwarded with my rebuilding.  App'd day after discharged and received two CO cards- platinum (750 - 1600) and qs1 (750 - 1600); app'd for Barclay's Apple Reward in 8/15 (2000).  In addition, I have app'd and received Kohl's (300), Walmart (500), and Amazon Store (800).  My current scores are myfico 08: EQ - 585, TU 617, EX 617, which are not bad considering where I started.  My reports are clean except for my default student loans which I just finished rehabbing 8/15.  I am waiting for them to get transferred from the collection agency (CA) to the new servicer so the default notations can be removed and the collections will no longer report "open."  It is extremely important for me to be financially responsible.  My first goal is to have scores in the mid-600's.  It just seems like it is going to take a lot longer than I had hoped.  

 

Message 1 of 5
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Anonymous
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Re: Fighting Frustration 9 Mos Post BK7 Discharge

Remember, this is a marathon, not a sprint. Give it time, what you will find is once you get on a positve roll, it will continue. How is your utilization. Make sure to keep it low to maximize your score potential. Keep your head up and welcome to the forum!

Message 2 of 5
whiteknight1971
Regular Contributor

Re: Fighting Frustration 9 Mos Post BK7 Discharge

You're on the right track and have decent scores considering you have been out of bankruptcy for less than 1 year. I would garden for the next  6 months and try to have 0 balances on all your cards reporting, with 1 card reporting 1-9 % as many here have mentioned before. I believe if you do these things you will see your scores at or close to the mid 600's within the next 6 months. Since it is a BK, it does take time for the scores to recover. People have gotten FICO scores in the low 700's between 2-2/12 years from their discharge date. Continue on with the good work. 

Message 3 of 5
Anonymous
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Re: Fighting Frustration 9 Mos Post BK7 Discharge

To Cruznmore:  Thank you for the encouragement.   My utilization is low.  I pay my balances in full before the statement cuts and the only charge that reports is the one for myfico.  Practicing patience can be difficult at time.

 

Message 4 of 5
Anonymous
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Re: Fighting Frustration 9 Mos Post BK7 Discharge

To whiteknight1971.  Thank you for your encouragement and support.  My utilization is low and I will take your suggestion to garden for a while.  Hopefully, my student loans will no longer be reporting as default after 6 months.

Message 5 of 5
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