I’m relatively new here and to the trauma of bankruptcy.
I see a lot of new folks posting about their concerns regarding filing and the inherent fear of the unknown and what to expect next.
In March of 2017 when I filed my no-asset BK7 I was scared, nervous, uncertain and overall nothing but a mental mess as I pondered the aftermath of a BK7.
I found this forum and read every post in the “7 to 700” thread.
I also read hundreds of the rebuilding threads which gave me hope.
I followed the advice given here and through my Attorney and opened a share-secured loan with a local credit union.
I apped the often bashed Credit One Visa card (approved) along with a few others (credit I burned in my BK7) that offered an immediate “Hell no!”
I watched for other offerings, signed up for the “myFico 3B” service and FOCUSED on DOING WHAT I COULD to help my goal of recovering an improved level of credit worthiness.
My credit union approved me for a secured VISA and suggested apping for their unsecured card at the six month mark.
Ollo popped up as an opportunity through the Experian app so I took a shot and was approved with a $1000 credit line.
The “Shopping Card Trick” gave me two cards; Wayfair and Overstock with credit lines of $2000 each.
I’ll use these accounts for small items around the home but my primary goal is to build a dependable track record with their issuer, Comenity Bank, with the end goal of obtaining a Comenity Visa to REPLACE the Credit One card before I’m hit with the annual fees.
I’m in the garden until January 2018 at which time I’ll approach my credit union for an unsecured card and possibly app Capital One (burned in BK for about $3000) with improved scores and some established positive pay history that hopefully will get me back in.
So, to those in fear of your credit life never coming off of life support, please know that it CAN live a healthy life again.
Learn from the mistakes that brought most of us here.
I keep my utilization around 6%.
I pay IN FULL EVERY MONTH.
I don’t buy anything on credit that I can buy with cash instead.
When my credit cards are used it ISN’T because I WANT something material; I use my cards to build a new foundation of responsible credit history that can grow with time.
And it does take time.
Happy Thanksgiving everyone.
I see a lot of new folks posting about their concerns regarding filing and the inherent fear of the unknown and what to expect next.
In March of 2017 when I filed my no-asset BK7 I was scared, nervous, uncertain and overall nothing but a mental mess as I pondered the aftermath of a BK7.
I found this forum and read every post in the “7 to 700” thread.
I also read hundreds of the rebuilding threads which gave me hope.
I followed the advice given here and through my Attorney and opened a share-secured loan with a local credit union.
I apped the often bashed Credit One Visa card (approved) along with a few others (credit I burned in my BK7) that offered an immediate “Hell no!”
I watched for other offerings, signed up for the “myFico 3B” service and FOCUSED on DOING WHAT I COULD to help my goal of recovering an improved level of credit worthiness.
My credit union approved me for a secured VISA and suggested apping for their unsecured card at the six month mark.
Ollo popped up as an opportunity through the Experian app so I took a shot and was approved with a $1000 credit line.
The “Shopping Card Trick” gave me two cards; Wayfair and Overstock with credit lines of $2000 each.
I’ll use these accounts for small items around the home but my primary goal is to build a dependable track record with their issuer, Comenity Bank, with the end goal of obtaining a Comenity Visa to REPLACE the Credit One card before I’m hit with the annual fees.
I’m in the garden until January 2018 at which time I’ll approach my credit union for an unsecured card and possibly app Capital One (burned in BK for about $3000) with improved scores and some established positive pay history that hopefully will get me back in.
So, to those in fear of your credit life never coming off of life support, please know that it CAN live a healthy life again.
Learn from the mistakes that brought most of us here.
I keep my utilization around 6%.
I pay IN FULL EVERY MONTH.
I don’t buy anything on credit that I can buy with cash instead.
When my credit cards are used it ISN’T because I WANT something material; I use my cards to build a new foundation of responsible credit history that can grow with time.
And it does take time.
Happy Thanksgiving everyone.
