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Congrat's on your discharge and new start. !!!
@Anonymous wrote:Hello! My husband and I were discharged a few years ago (joint bankruptcy) but we have not even looked at our scores or tried to rebuild credit until now. With this credit rebuilding plan...am I following the plan for each of us to bring up the scores? IE Do I get the same credit cards for both of us? Thanks.
You should each work on rebuilding your respective credit separately. You can apply for the same cards but its likely you have different scores and different CR situations so maybe whats good for you may not be the best choice for him and vice versa. Welcome to the forum. Suggest you spend as much free time as you can to read and learn from this forum. Ask questions and become informed. You will be amazed at what you and your husband can accomplish in a short time while you work toward a 700 score. Good luck to you both.
Hello everyone,
i am checking in to share my experience in the hopes it could help someone.
i followed the plan. It worked...my scores went up.
once my installment plan was paid and closed...I lost the mix of credit and my score took a nose dive...I lost 16-20 points.
i researched myfico forums and found a tread from @revelate. In this thread I've learned about a Alliant CU...allows you to open a secured loan for 60 months...min $500 which is only about $8 / month. This is great because this would allow you to keep your installment loan open for 5 years.
this CU is easy to join...you only have to make a 10 donation to foster care.
good luck to everyone.
I have had some great success in the last 30 days with deletions from the bureaus. Unfortunately, I jumped the gun and applied for NFCU which suggested I open a secured card. I am also a member of TFCU who is on my report as a paid charge off. Do you think I should open the installment loan with them to balance the charge off and then open the secured card with NFCU? I promised myself I would apply only for pre-qualifications after the NFCU.
Also so does car loan count as an installment loan?
@Anonymous wrote:I have had some great success in the last 30 days with deletions from the bureaus. Unfortunately, I jumped the gun and applied for NFCU which suggested I open a secured card. I am also a member of TFCU who is on my report as a paid charge off. Do you think I should open the installment loan with them to balance the charge off and then open the secured card with NFCU? I promised myself I would apply only for pre-qualifications after the NFCU.
Also so does car loan count as an installment loan?
Hello and welcome,
Yes a car loan is considered an installment loan.
I started with a NFCU secured credit card and a RBFCU share-secured loan. Been extremely happy with both.
The NFCU secured nRewards card reports the same as the unsecured version to all 3 bureaus, has $0 fees, and can convert to unsecured in 13 months.
My CU loan only costs 2%, reports to all 3 bureaus, and they release the paid off collateral as I go.
Very pleased with both.
Quick question.
When do you start with pre-step 1 and step 1? I assume you do that after your case is closed, correct? Or is discharge enough?
I had my 341 on November 17 and am looking forward to going through this plan.
Hi Guys ! I am New in the forum and want to say Thank you for all information and support !
History : March /2013 - BK7 , Discharged : End of 2013 and I got my first Sec.Credit card from Capital one -$ 200. My score after BK was around 500.
Now is : Eq-589, Tr.-573, Exp-596. /
This Dec, I was very lucky ! I got 2 new cards, unsecured : Barclay rew.Master card- $ 500 ,and QuickSilverOne -3K. Also my Cap 1 Sec .card now is $800.
I have a 4 inq. now! / Probably, no more app. till 2017 because of my inq. and BK7 ?
What can I do more this year to rebuild my CS ? Any advice will be very helpful for me .. :-)
Kary,
The guide in the first post of this 85 page thread has a lot of good suggestions for you.
I would start at the beginning & request/review/correct your credit reports if you haven't already, take out a share-secured loan with a Credit Union as installment loans report differently than revolving credit card accounts, and then move on down the guide from there.