Joining the Club No one "wants" to join

[christina35]

Thann you for your updates! I found myself holding my breath as I was scrolling for your next update.

[Demonface]

Wow , thats amazing that your credit improved so quickly. Cant wait til I get a job and can finally do the CH 7 . Tired of the debt collectors calling me . 

[Anonymous]

Great work, C Dubya! It's amazing how quickly your scores can go up! 

[C_DUBYA]

Thanks both of you.  Yes with self control and a solid income base to build off things can start to clear quickly.

[Scupra]

Wooooooo! I’ve been away and I come back to CDUB kicking some butt! So happy for you and your success. Keep up the amazing work and you will be joining the 700 club in no time

[C_DUBYA]

Thanks all!  Latest update.

Here we are 6 months post BK7 discharge.  My scores are now:  EQ: 649, EX: 630, TU: 630.  I am hoping for 650 across by summer.

Credit cards- I now have 7 credit cards and am officially "gardening".  My highest is a Fortiva at $2500.  It has a APR at 22 and Maintenence fee and Annual so its not the greatest, but a good start for higher limit management.  I have a capital one that I opened the day of discharge for $300 and today it upped to $500 by itself.  My Discover IT secured is at the 7 month mark in April so hoping for a unsecured graduation!  

So after discharged in 6 months I have achieved an available revolving credit of $5600!  Along those 7 cards.  My scores have consistently gone up and seem to continue to do so at a rate of about 10 points a month right now.  

650 across all by July here I come!

[C_DUBYA]

Vehicle update:

So today I went car shopping and wanted a new lease.  I was approved by Chrysler Capital for a Ram 1500 lease at $342 a month with $500 down.  I sign and drive out Thursday so I can get more details as far as the actual rate, etc.  I am extremely happy with this payment!  My current lease with my terrible credit was almost the same vehicle at 490 a month!

[C_DUBYA]

One more quick update.  Yesterday 6 months post BK 7 discharge I purchased a vehicle AND leased a brand new vehicle.  My wife needed a new vehicle and we were able to get her a 2015 GMC Acadia with 20k miles for $360 a month.  I got a rate of 6%!  A credit union ended up being the best payment option but many lenders approved me.  Next I was trading in my lease and got a brand new Big Horn Ram 1500 crew cab for $400 a month.  I was approved at $342 a month but it was an express and I wanted the ammenities of the Big Horn.  I also added the wear and tear package.  Due at signing was $750.  

With the BK getting things after your score starts to go up becomes easier, but keep in mind as you can see you will not get the best rates or prices. That comes with the territory.  However, my payment for the same truck brand new before BK was way higher then after.  And that was with a co-signer with a 760 score.  

I continue to update this thread to help others earlier in the BK process get an idea of the path ahead of them.  I will update again once these new lines hit my credit to say how my scores reflect the changes.  Whether positive or negative.  I am now good on credit with no changes until over a year when I buy a new home.

Thanks all

[empressj]

Good day!
Filing Bk7 was one of the hardest things to accept and move on from. I was so ashamed and disheartened but had no choice but lose everything if we hadn’t filed. I was denied Credit from the gate 😞. It was a hard hit to pride and heart but in all we’ve learned how to live off cash/savings. I waited sometime before applying to rebuild. Fingerhut was the only approval I could get - $300. I made a small purchase and paid off to get back on map. Well this morning I woke up in a daring mood and decided to app C1. Mind you, husband and I both burned them in bk7 so I wasn’t sure. Maybe they were ticked we burned them 😢. Well someone or the computer was in a good mood today. Guess what? I was approved for 1k!!!! A great start, more than what I was offered when I had cap many years ago. So I consider it a score!!! I went a little silly and applied for NFCU and guess what?!?!? I was approved again 1k!!!! The interest rate 17.24% 😳. NFCU rep told me they’ll review my account in a year to lower interest rate or perhaps a different card with lower interest rates. It’s up there but a start. I am truly amazed, humbled and grateful. It was lesson learned. I will value this blessing! I have tears in my eyes because I NEVER thought I’d have the chance to redeem myself to rebuild.

Anywhoo!! Stay strong and encourage newly discharged bk7 fam! There is light at the end of tunnel! 2018 is our year!!! Be well and HAPPY Friday! 😊

Please forgive any grammar mishaps, typing from phone.

[nursepower]

CDUB, did you burn either Discover or Cap 1 in your Bk?