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The post-bk rebuild long game begins

Regular Contributor

The post-bk rebuild long game begins

Well, I’m less than 2 weeks out from my BK7 discharge (due 10/10; I know it can take some time to come through) so I thought I’d start my own thread to track my rebuild progress.

 

SCORES AND REPORTS

Highest point: Even after my divorce, I had an EX FICO score of 794 (early 2015).

Lowest point: pre-filing, June 2017. FICO 8s EX 494, EQ 486, TU 483.

Current as of 9/24/17, FICO 8s EX 561, EQ 570, TU 501.

IIB: PSECU CC, BOA CC, Chase CC, Synchrony CareCredit LOC.

 [snip lengthy section on previous reports]

 

Oh – I did receive back my Telecheck and Chexsystems reports so far, and both are squeaky! Nothing yet from the others I sent to (EWS, LexisNexis // Innovis).

 

PLANS

  1. Clean up reports PRN (will see in 1mo)
  2. As soon as I receive that discharge, open up check/savings at Consumers CU. I plan to use their savings as my main savings account, diverting part of my pay there for regular contributions, and making deposits into it whenever I can additionally. (I did get my budget plan ported from Excel to Access, and it is much easier to use now, and allows me to plan these deposits out into the future and get a small idea of how much I might be able to save over time given certain spending assumptions. Yes - I am a giant nerd.) 
  3. Same day if possible, get my SSL started. I haven't seen reports of anyone doing this at CCU, so I'm going to check into it, with Alliant as backup plan.
  4. Also same day, apply for Cap1. Hold off on anything else for now. Knock on wood, no plans for mortgage or car loans or any such in the near future, so it’s ok to let things age and come back around in 6 mo or a year if things improve. Long game, I have to keep telling myself.
  5. Oh yeah – get in contact with the retirement savings dude at work and get that process started for when the new year raise hits. This one I could technically do any old time.

I'll let you know where I am next :-) 

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
11 REPLIES
Valued Member

Re: The post-bk rebuild long game begins

The BOA account that says responsibility terminated seems like you were an authorized user on an account. Were you ever an AU? If so, I would leave it alone as it is reporting a positive history.

Message 2 of 12
Regular Contributor

Re: The post-bk rebuild long game begins


shadanat wrote:

The BOA account that says responsibility terminated seems like you were an authorized user on an account. Were you ever an AU? If so, I would leave it alone as it is reporting a positive history.


It took me a lot of thinking, but yes. This was my ex-husband's only other cc while we were married, and he must have removed me some time after our divorce finalized. I didn't initially remember being an AU on it but I do now.  Thank you. 

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
Message 3 of 12
Regular Contributor

Re: The post-bk rebuild long game begins

credit/rebuilding diary:

10/03/2017 RIP my PSECU accounts. I did call and ask sheepishly to be let back in for deposit accounts only, and they did tell me that because I caused a loss, it is policy that they essentially will never let me back in. On the one hand, this was my largest write-off. But I had to try... I'm stubborn.

I got nearly $200 out of the call, though. They improperly charged me some credit card fees during my relationship with them and offered me a refund, and I sent the letter to my atty some time ago, asking if the trustee would need to do anything about it. He said it was not an issue, and to "go have a really nice dinner." (I don't even know how to spend three digits on a meal.) So since they're closing out my account, they mailed me the check. It'll go into my rebuilding fund.

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
Message 4 of 12
Regular Contributor

Re: The post-bk rebuild long game begins

10/10/2017 due date for creditors to object to discharge

10/11/2017 checked PACER as soon as I got home from work - it's party time! I'm DISCHARGED!!! 

Opened my Alliant account - tried to open an account at a local CU too, but failed the knowledge based questions (original amount of a pre-divorce car loan from 7 years ago?) so I have to visit a branch. I'll pop in at lunch tomorrow or maybe this Saturday

I'm not applying for any credit until my reports correct themselves (at least EX is obviously not showing d/c yet). It can wait a few days-couple weeks to hopefully get better results.

But I'm still so relieved. I just want to start working on fixing my mess and my mistakes.

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
Message 5 of 12
Valued Member

Re: The post-bk rebuild long game begins

Congratulations on your discharge

Message 6 of 12
Regular Contributor

Re: The post-bk rebuild long game begins

10/11/17-Opened Alliant account. I’m excited to be a CU member again! Also opened a local CU savings for branching purposes, still toying with whether to keep it 10/16/17-established SSL, paid down to 8.99% just waiting for it to show on credit reports. I know this may not show until next month due to when it was opened.

 

10/20/17-For the hell of it, I played with some CC payoff calculators. One of my early questions on this forum was “should I try to keep my CLs lower as my TLs grow?” (that is, some decided amount based on my income) I don’t want to get in trouble again – on the one hand I feel I’m serious (and obsessive) enough about this rebuild. Otoh, a lifetime is a long time for things to go wrong and I am the kind of person who likes to build in reasonable safeguards for myself.
Results: just $2,000 balance at any APR takes 2-3 years to pay off at the amount that I’m going to be able to put into savings every month (over and above my basic living expenses). I’d have to stop saving for at least 2 entire years, in addition to sticking to a strict budget. Conclusions: there’s no point trying to keep my CLs down artificially. What I need to learn is discipline and trust/confidence in myself. Which I think is what y’all told me...

 

10/24/17-Updated scores.  No SSL showing on any report. EX shows lates (I understand they are allowed to). Otherwise, all showing discharged, and zero balance and IIB on appropriate accounts. 
EX: 580, EQ: 579, TU: 522

 

Also 10/24/17-CC apps-
Discover-found out that my issue with Discover’s websites were resolved and that I was prequaled for their Secured card. Went ahead and app’d, put in deposit, supposedly Approved!!!, waiting 2 weeks for card (pending any potential requests for verification). No HP at least not yet.

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
Message 7 of 12
Valued Member

Re: The post-bk rebuild long game begins

Whooo Hoooo! Congratulations!!

Message 8 of 12
Regular Contributor

Re: The post-bk rebuild long game begins

In case anyone else was previously a permanent prescreen opt-out then decided, due to bk, they wanted to opt back in to pre-screen offers, here was my experience. I had read it could take anywhere from "a couple weeks" to "six months" to begin receiving offers again. It took about 6 weeks for me (from when I completed the opt-in). I just received my very first prescreened credit mailer today!, from none other than CreditOne. I might frame it.

.... just kidding.

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
Message 9 of 12
Regular Contributor

Re: The post-bk rebuild long game begins

10/24/17-Another CC app - Cap1 Platinum. This was a cold app; I did NOT show as prequal'd on their site, either for Platinum or Secured. However, both were "suggested." I decided to go for it, probably against everyone's better judgment. (cough.) There was some back-and-forth with Cap1's fraud department while I was working a very noisy event and couldn't understand everything they were telling me. Regardless - Today 11/03/17 I received my Platinum card, activated it and arrived to my online account to find a $3,000 SL!!! 

I also spoke with Discover yesterday and should be receiving my $500 secured card by mid-next week. I am going to stop there for now, at least until things report for a few cycles. My SSL still has not shown up, although I know Alliant has about another week yet to report it.

Still, I'm so glad. I was expecting $300-500 SL for Cap1. This is nice. :-)

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
11/2017 EX 609; EQ 634; TU 583
Message 10 of 12