Rebuilding Process and Waiting Game!

[Creditaddict]

I have cleaned up my reports to the fullest available with the bk there.

I have got some great secured cards (BofA, National City, local credit)

I carried through some long time accounts that where joint or auth on

Now I sit and watch my score slowly go up.

I'm not a patient person!

What do I do? lol

I come here and talk to make sure I don't apply for anything and just let things age and get better.

[creditreformer]

waiting's hard.  what i do-

keep managing existing ccs right

research my 'next step up'- ex., i knew i wanted to close first premier and orchard by the end of 08, so i lined up some 'replacements' and now have cap 1, ba 99/500, target red, hooters.  now i'm sitting tight and letting everything age...BUT i also have a 'next step up/dream ccs' in mind- ex., chase, citi.

keep adding $ to savings for a 'rainy day' or simply my next goals.  even though i have ccs now (i lived 7 yrs w/o them due to past mistakes), i still like to pay CASH- or @ least know that BEFORE I buy, I CAN pay off the debt ASAP.

ignore ficos- e.g., NOT buying ficos every 2 seconds like some people.

resist temptation to hit the app button after reading 'approval' threads

read $ blogs- ex., i really like this 1- http://www.mymoneyblog.com/

scour my reports to see if there's ANYTHING left i can clean up

read the success threads on here/other boards to remain motivated

remember where i've been and where i am now...and where i'm going credit wise

[irishchk23]

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Creditaddict wrote:

I have cleaned up my reports to the fullest available with the bk there.

I have got some great secured cards (BofA, National City, local credit)

I carried through some long time accounts that where joint or auth on

Now I sit and watch my score slowly go up.

I'm not a patient person!

What do I do? lol

I come here and talk to make sure I don't apply for anything and just let things age and get better.

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I'm with you on the lack of patience, waiting is the hardest part of this whole process for anything!  Great job on cleaning your reports up!  I am in the process of cleaning mine up having filed for BK 11/06, discharged 2/07 and I have a couple of questions if you don't mind.  When was it that you filed?  Part of my problem is most of the accounts I filed on have lates since my lawyer told me to stop paying anything once I started the process, which I wish I hadn't listened to.  Did this happen to you and if so were you able to get any of those lates off at all?  I know that because they are IIB they are derogs, but isn't having lates on them as well giving me a double derog?  Thanks for any insight.  I really love reading other people's success stories, it gives me motivation!   

[Creditaddict]

ah yes, I posted this in another thread some time ago.

I filed bk 7 back in 01' and I let EVERYTHING go 90 days late before I filed, then they continued to go even later before being discharged, when I finally got through bk I was in low 400's!

My friend filed bk 7 on just a select number of accounts, mostly to get rid of 2 bad car leases and didn't miss a single payment, he carried credit cards and mortgage through the bk, when he was discharged he had like a 680 score!! 2 years later he is almost an 800.

I so so wish I had not let things go late when I filed but they always told you if things are current you run the risk of the creditors coming back and saying you ran them up on purpose planning to file bk and they might not go in your bk, so that scared me.

However I was able to go through and get many of my accounts to either update to no reporting of lates ( Just report as bk account paid as agreed) or even some like my car repo, deleted completely off my report!!!.

Fast foward to 2007 and filing chapter 13, 7 isn't an option again for another year... filed for back mortgage deal, long story short I worked for a company that did foreclosure bailouts, I took on 2 mortgages for bailouts, they then went foreclosure again... big surprise! (call me stupid) so filed 13 to protect my assets from mortgage companies, wasn't trying to loose credit cards, but they quickly closed up shop on me with word of bk and many went.

I have spent the last year disputing the lates, the charged off balances and the difference between balance and what property was sold to to get them to update the account as bk account $0 balance.

I have successfully cleaned up 2 of my reports to everything reporting $0 that was in bk except 1 account on one report ( one of the mortgages).

Very long and hard process but my scores have improved with getting things to report $0 and then of course with adding new GOOD tradelines.

Sorry this has been so long, hope it all makes since when reading, I tend to loose my track of mind and come off course sometimes!

[irishchk23]

Thanks for the response.  I understand about the mortgages.  I was doing fine until I got talked into buying a three family, which happened to be right before the market started going downhill.  In turn I couldn't rent it and couldn't afford the two mortgages (I had got 100% financing), this was the reason I had to file BK.  Not to mention the three cc's I ran up with any problems that came along with the property.  Luckily my scores weren't so bad.  I had actually got most of the accounts fixed to say IIB with $0 before I discovered this forum.  I too have one mortgage showing a balance, but it was one that was transferred to a new lender months before I had any problems, that is in dispute now.   In order to get them to report no lates, did you GW with the company or go through the CRA's?

Thanks again!

[Creditaddict]

I went through the credit reports. I have not had good luck with dealing with companies directly (no offense to there job, but most call center employees at the bank are there to answer the phone and do general question stuff, they don't know the workings of credit reports and credit reporting, nor have the power to make any of those adjustements) and I just don't like taking the time to call each bank and get addresses to send letters to that may be wrong and type a letter to each bank... i just keep doign it over and over again with the credit report, eventually someone is going to miss it at the bank and it will be corrected or deleted out of default.

[irishchk23]

I think I will try that then, I really having nothing to lose and hopefully some points to gain .