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Hi All,
I have been reading the forum for about a month or so now. So i guess my rebuild started at that time. Before then, i was vaguely aware of how credit worked but mostly just afraid of it.
I filed ch7 september 2014 and was discharged january 2015. Discharged mostly personal loans, but also included an overdrawn checking account and capital one for about 1k. How i got to that point in my life is a story for another day.
Bankruptcy:
- Springleaf (2.5K)
- OneMain (7.5k)
- Avant (2.5k)
- Net Credit (2.5k)
- local installment loans (10k)
- PNC Checking (900)
-Capital One (1000)
I reaffirmed a car loan and have made all but one payment (August 2015) on time since then. I still owe about 5.5k on my 2012 vehicle.
I also have 25k in student loans at this time.
The two years following my bankruptcy are not really noteworthy as i was using cash almost exclusively (and prepaid cards when necessary). I've known for a long time i would not be able to accomplish any of my goals this way. I recently decided to confront this and take action.
Current Credit Situation:
Revolving
1. Capital One - $450 secured (December 2016)
2. Discover IT - $300 secured (January 2017)
3. Credit One - $500 (February 2017)
4. Merrick Bank - $550 (February 2017)
Installment
1. Student Loans - $25k
2. Capital One Auto Loan - $5,500
3. Share savings loan - $500 (December 2016)
I have reviewed my annual credit reports and everything appears accurate, although i am not sure i understand how the tradelines should report the bankruptcy. They all appear to be reporting current, $0, included in bankruptcy. I suppose these are all considered negative tradelines by the CRA.
I have been monitoring my reports with credit karma. I have access to discover's TU FICO which was 606 as of March 19, 2017.
Finally, i have been reading a lot about Navy Federal Credit Union and was just accepted as a member today via the Navy League San Diego. Other than the $5 requirement for savings, i have not funded the account because i have read a lot of stories about accounts being frozen. I am going to wait a couple weeks and then start using this as my primary account. I also applied for the NFCU cash rewards card online and recieved 24 hour processing message.
Thanks for all the great information throughout the forum, i look forward to contributing to the community if i can.
Welcome! Looks like you are on the right track. All should say balance $0 and included in bankruptcy, so looks like you are set there. Good job getting in with NFCU. Looks like you are on the right track for starting the rebuild. I recommend the 700 in 24 months thread if you haven't already read it. You are a pretty good distance into your recovery but there is wonderful advice there. Hoping you get in with NFCU! Let us know how it goes.