Reply
Community Leader
Valued Contributor
starry1
Posts: 2,271
Registered: ‎11-29-2012
0

Re: My post-bankruptcy plan; please critique

I'm getting so impatient to start rebuilding. Ugh! Why does this take so loooong? Okay, I'm done whining for now. I have a couple of tweaks to my plan. I just mailed out a goodwill and did an online dispute for baddies, so there's nothing else to do on cleanup until I get results from those. I'm joining nfcu in late Feb or early March. Will start a savings account then and make aggressive deposits, will app for an unsecured card about Sept and will have at least $2k already in their bank in case they want me to go secured first. I plan for this to be my third card, so hopefully they will give me unsecured.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 11/14/14 TU 649; EQ 648; EX 653
Goal Score:  625 for now– New goal 675

Cap1 sec $1k (SD) / Fingerhut $2k / nRewards $12k / cashRewards $10k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $500 / Target $400 / PPSC $800 / Texaco $400 (last app 09/29/14)
New Contributor
cem13
Posts: 59
Registered: ‎07-20-2012
0

Re: My post-bankruptcy plan; please critique

@ starry1

 

Do not get impatient.  These things take time.  I filed BK7 Jan 2011, Discharge Jun 2011 with a score of 560.  I also had a state tax lein and a foreclosure.  It took a full year to get my report clean and accurate.  It took 18 months to re-hab my student loans and get them straight.  It takes time to rebuild.  If it was easy, everyone would be doing it.

 

I am exactly 2 years to the week for filing BK7.  I checked myfico scores today and i sit at EQ 680 and TU is 679.  I have 4 student loans reporting good for 4 years.  I have a 20K car loan reporting for almost 1 year.  I have one CC (Cap1, 750CL) reporting for 18 months, another for 12 (Orchard, 1500 CL) and yet another (Barclays, 2K CL) reporting for 6 months.  I pay my statement every month and occasionally I pay it off before the statement cuts.  In other words, I make my payment a few days ahead of the due date.  i go on line to see the outstanding balance NOT AMOUNT DUE.  The statement closes on the statement date and reports about 5 dsys later.  My AAoA is 9 years.  My oldest is 22 years (Utility).  My CC utilization is 10~15% and NEVER have a single card go over 60% of the balance regardless of the overall utilization.

 

I was very frustrated and still am.  I got into this mess through no fault of my own.  All my baddies are over 4 years old.

MyFICO '08: AUG2014: EQ=707, TU=693, EX=711
MyFICO '08 JUN2014: EQ=700, TU-688
MyFICO JAN2014: EQ=704, TU=720, EX=708
MyFICO MAY13: EQ=701, TU=708, EX=705 (Lender Pull).
MyFICO JAN13: EQ=701; TU = 677) 2 years after filing BK7, 18 months after discharge in JUN11
MyFICO (SEP12: EQ=677; TU=670) 16 months after discharge BK7.
MyFICO (JUL12: EQ=671) 13 months after BK7.

Wallet: NFCU Rewards: $25K; Cap1 QuickSilver: $2250; Barclays Apple Rewards: $2000; Cap1 Rewards: $1500.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}