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Rebuilding Journey

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Anonymous
Not applicable

Rebuilding Journey

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. 

 

 

 

Message 1 of 3
2 REPLIES 2
nomadicpixie
Valued Member

Re: Rebuilding Journey

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. 

Rebuilding from BK 7
EQ-554 TU-567 EX-542 ~ Day of Filing (2/2017)
EQ-559 TU-496 EX-510 ~ Day of Discharge (6/2017)
EQ-696 TU-677 EX-679 ~ Current (4/18)
Credit One, Merrick, Paypal, Overstock, Pottery Barn, NFCU Secured & CapOne
Live, learn, and overcome
Message 2 of 3
Anonymous
Not applicable

Re: Rebuilding Journey

Thank you. I have read that thread and it has tons of great advice. 700 in 24 month thread was how I found my fico forums and what got me motivated to start this journey. I have so many to thank in these forums! I look forward to giving back as I learn and grow.

Fingers crossed with the nfcu app. Will post once I receive a decision.
Message 3 of 3
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