HOW TO: From BK7 discharge to 700 in 24 months or less!

[Anonymous]

I am currently waiting for my BK to be discharged and preparing to start rebuilding my credit. The only current not IIB account will be my Fed student loan that has been opened since 2015. I BK both CapOne and Barclays. Will they allow me back in with them? I read that CapOne usually will after 6months Post. Trying to follow the guide. Also does im thinking about join NFCU, my grandfather was in the armed forces (Thats all I know about him as he passed well before I was born ), should I wait for BK to discharge before calling to join? Also will they ask for any information abnout my grandfather?

[stinastina]

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@Anonymous wrote:

I am currently waiting for my BK to be discharged and preparing to start rebuilding my credit. The only current not IIB account will be my Fed student loan that has been opened since 2015. I BK both CapOne and Barclays. Will they allow me back in with them? I read that CapOne usually will after 6months Post. Trying to follow the guide. Also does im thinking about join NFCU, my grandfather was in the armed forces (Thats all I know about him as he passed well before I was born ), should I wait for BK to discharge before calling to join? Also will they ask for any information abnout my grandfather?

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I never got approved by Barclays and I didn't IIB them. I did IIB Cap 1 and it took over 6 months to get back in. NFCU and Penfed have been awesome to me so I highly recommend them. If I were you, I would look up your gradfather's service record - see if you can get his DD214 and take it in to the branch to apply.

[CBTS]

I'd like to say thank you to everyone for their contributions to this thread, and these forums as a whole. The information here has been an invaluable resource to me. My Chapter 7 was dischared 12/04/17 and I just received the letter in the mail yesterday. I've gone through all 185 pages of this thread and the amazing BK-Friendly Cards thread by Scupra, but I'm still a bit confused. I have a few questions about disputing information with the CRAs, and how the IIB status is supposed to be reported.

In the guide SoulMaster mentions all the accounts that were included in BK are supposed to say IIB, $0 balance, and Current. Only my Experian reports information this way. The 6 accounts that have already been updated as IIB are also $0 and Current. Those same accounts on Equifax have also been updated with $0 balance and IIB notation, but they show up as Delinquent. While on TU, the account status was removed altogether; they say IIB with $0 balance, but they show up under Other not delinquent/current.

I still have 3 accounts on EX, 1 on EQ, and 2 on TU that I have yet to dispute because they don't mention IIB anywhere. I was wondering if I have to dispute all of the other accounts on TU and EQ for them to update the status as Current, even though they already say IIB and $0 balance. I'm confused as to why only EX reports them as current, while EQ and TU don't. For this reason my EX is much higher at 545 FICO than the other two; TU at 500 FICO and EQ at 524 FICO. I should mention I'm using CCT to get all 3 reports.

Any help will be greatly appreciated!

EDIT: spelling

[Anonymous]

Hows your journey?

[CBTS]

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@Anonymous wrote:

Hows your journey?

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I just got discharged last week, can't wait to start the rebuilding journey! My signature might've thrown you off, didn't realize it was still on my profile from 5 years ago when I used to be somewhat active here. But I've taken it off now.

[Anonymous]

Just wanted to share my story so far:

after procrastinating for months i was able to file in aug...discharged 12/14/17 and already approved for CapOne Platinum Preffered card with low CL (300.00) but great intro rate/and apr after and noannual fee SCORE. I  burned CapOne in BK for 2 cards (1 secured and 1 unsecured) so i was shocked able to get it so quick. Still wanting another card just dont know where to look and am waiting for student loans to go back reporting because I expect a big ol boost in CS (10 years of positive history) for that and will try for another unsecured card, if unable with do a secured  card at local CU. Just know everyones case is different so if you can pre-qualify do it! I literally can say this is the best thing that i could have done and am super happy for my decision to do this and hope everyone feels the same as well!

scores before 550-575  Filed: 8/2017  scores after: 511-20 

Discharge: 12/14/17 scores right now: 555-575 before student loan info updates

Cards: CapOne Platinum (300.00)

[Anonymous]

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@cjsiege wrote:

DISCHARGE!!!

I'm so happy! I finally made it across the finish line. Now it's the start line of the rebuilding process I got my ScoreWatch subscription set up and I'm just waiting for my CR to reflect my discharge to apply for the CreditOne card. I already did all the disputes while waiting so all my accounts show IIB/$0 balance already - yay. This guide has been really helpful already and I'm just getting started! I do have to get an auto loan shortly as my previous lender is chomping at the bit to get their car back, but otherwise I'm gonna do my best to stick to this plan closely so I can get a house in 2 years.

OK, enough preening, a quick question. Can someone explain how the credit builder loans work? Is it just that you make a payment that then gets disbursed into the CU account every month? I'm looking at the Navy Federal "Shares Secured Loan" which I think is the right thing, but I guess I am just not getting how it works. Do I need to have $1000 to put up at first? Clarity, anyone?

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Question for ya...

You mentioned you did all the disputes while you waited.  You were able to dispute things as IIB while waiting for discharge? If so, i'm going to start on that. Hope your still active.

Thank you.

UsoDak

[Anonymous]

OP or anyone else who had a builder loan with OneNevada.....

Do they allow you to prepay the loan and push the next payment day way into the future?

and keep the loan active and reporting for original lenght of time?

this way loan would report with low balance for full lenght of the loan (possibly 5 yrs).

??

[Bill2265]

I’be been CH7 discharged for 1year and 3 months and still can’t get preapproved for Capital 1?? I don’t get what’s going on. I did burn them on one card but I’ve seen people getting cards by now. Anyone got any advise ?

[Anonymous]

Bill2265,

After being discharged, did you check all three credit bureaus to make sure everything was fixed correctly or added to bankruptcy? Have you tried credit one? Called reconsideration? Followed the steps?