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Established Member
Startnover2
Posts: 10
Registered: ‎06-23-2013
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What to do next

My chapter 7 just discharged... I want to rebuild my credit but I know I shouldn't just apply for a bunch of credit. Please advise

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Valued Contributor
Scupra
Posts: 1,696
Registered: ‎07-12-2012
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Re: What to do next

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

 

That should keep you busy. Congrats on the discharge

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
687 EQ FICO 12/2014
680 TU FICO 12/2014
673 EX FICO 12/2014
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Established Member
Startnover2
Posts: 10
Registered: ‎06-23-2013
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Re: What to do next

Thank you so much. If I do not know anyone with the NFCU or USAA what other bank could I open up my loan with?

Starting Score: 497
Current Score: 523
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Established Member
Startnover2
Posts: 10
Registered: ‎06-23-2013
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Re: What to do next

Thank you so much. You provided with this when I originally discharged and I have followed it to the T. My question is in reference to what do I do now that I have had slow payments on my credit since the time I started on the 700 credit score in 24 months. How can I bounce back?


Starting Score: 497
Current Score: 523
Goal Score: 650


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Established Contributor
1GaDawg85
Posts: 831
Registered: ‎08-08-2014
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Re: What to do next


Startnover2 wrote:

Thank you so much. You provided with this when I originally discharged and I have followed it to the T. My question is in reference to what do I do now that I have had slow payments on my credit since the time I started on the 700 credit score in 24 months. How can I bounce back?


do you have any open loans from a bank/credit union, credit card, car loan, etc?

Barclays FICO: 676 DCU FICO: 659
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Established Member
Startnover2
Posts: 10
Registered: ‎06-23-2013
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Re: What to do next

Yes I have 5 open credit cards along with my car loan


Starting Score: 497
Current Score: 523
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Established Contributor
1GaDawg85
Posts: 831
Registered: ‎08-08-2014
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Re: What to do next

What cards and what limits?

Barclays FICO: 676 DCU FICO: 659
NFCU Cash Rewards Visa Sig 12.5k Barclays Reward MC 10k NFCU GoRewards MC 5k
DCU Plat Visa 4.6k Cap1 Journey Visa 4.5k Robins FCU Visa 3k Walmart 1k
Established Member
Startnover2
Posts: 10
Registered: ‎06-23-2013
0

Re: What to do next

Cap 1 $500, Cap 1 $300, First Savings, $350 SECU $500 and First Premier $300


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Senior Contributor
StartingOver10
Posts: 4,545
Registered: ‎03-06-2010
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Re: What to do next

[ Edited ]

Startnover2 wrote:

Thank you so much. You provided with this when I originally discharged and I have followed it to the T. My question is in reference to what do I do now that I have had slow payments on my credit since the time I started on the 700 credit score in 24 months. How can I bounce back?


I don't quite understand your question. Do you mean the 'slow payments' have occurred after your Bk discharge? How slow have the payments been, 30 days? 60 days?

 

If so, then don't apply for any more credit at all. Take care of the credit you have already received and make sure the payments are made on time.

 

If they have been 30 days and you have since caught back up, then continue to make payments on time and eventually send in a Goodwill letter to have the late removed. Having derogatory pay history after a Bk is a credit killer. So you will need to prove first that you can make timely payments and then hopefully they will remove the lates when you send in the GW letter. GL

 

 

Established Member
Startnover2
Posts: 10
Registered: ‎06-23-2013
0

Re: What to do next

My slow payment occured with my car payment when I lost my job.  Yes it happend 1 year after my BK.  I have 1 year of great payment then lost my job.  60 days late on my car note.  It is caught up now


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Current Score: 523
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