New Contributor
Credit_Me
Posts: 52
Registered: ‎06-14-2012
1st CC post Ch.7 BK....Next steps???

Hello All,

 

I had my bk discharged 1/12 and I just got around to starting the cleanup process. Started disputing some items with the reports I pulled. Anyways, this week I received an offer from Cap1 which prompted me to join myfico and start monitoring. I was surprised when I got approved. I have been reading some of the posts, and wondering where to go to next.

 

My plan is to use about 10 percent of the CL which is 750 (will go up after 5 on-time payments) and PIF every month for the next six months and then apply for something else but not sure what.

Don't have a mortgage, have an auto loan which was reaffirmed, and basically only have about 4000 dollars in school loans.

My EQ score is currently 531 as of today.

 

Any advice would be appreciated....


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
Regular Contributor
Comet21
Posts: 204
Registered: ‎08-29-2007
Re: 1st CC post Ch.7 BK....Next steps???

You seem to be on the right track. Continue to make on-time payments and you will see your scores jump dramatically. I filed in 1/12 and was discharged 4/12. You can see my scoresblow. My wife is about 20 points higher then me on EQ and TU.


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


Take the FICO Fitness Challenge
New Contributor
Credit_Me
Posts: 52
Registered: ‎06-14-2012
Re: 1st CC post Ch.7 BK....Next steps???

Nice jump. I am hoping I have a similar increase as well. I wish I would have gotten to this quicker. Will post scores as they increase over the months.


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
New Contributor
Credit_Me
Posts: 52
Registered: ‎06-14-2012
Re: 1st CC post Ch.7 BK....Next steps???

Just wanted to update my post. Will be using it to document my progress.

 

As of today, I have a capital one platinum unsecured card with 750 CL, a credit one card with 400 CL, and a credit builder loan (1000 for a 12 month term).

I will be gardening with these for 11 months and then check my scores.

 

I managed to dispute 3 collections that were reporting after my bk 7 discharge. I also have a few baddies that will be falling off first half of 2013 so I am expecting small boosts once these occur. My cards have not reported yet, only the credit builder loan. Expecting a boost in score in the next few months as well from them.

 

Not sure but hoping to reach my goal for 2012 or at least make it out of the 500's.


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
Re: 1st CC post Ch.7 BK....Next steps???

Aloha,

 

How long after you discharge did you apply for capital one or did they send you a offer? The credit builder loan is with who? I was discharge on June 26 my credit jump almost 70 points I looking for more.


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


Take the FICO Fitness Challenge
New Contributor
Credit_Me
Posts: 52
Registered: ‎06-14-2012
Re: 1st CC post Ch.7 BK....Next steps???

Aloha,

 

Congrats on that big jump. I applied about 6 months after discharge and I was getting offers in the mail (I sitll keep getting them). If you are thinking of applying, use their pre-approval form. As for the credit builder loan, I got it from aspirefcu.org . I opened a savings account with them with 5 dollars. 

 

Good luck on your rebuilding journey....


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
Re: 1st CC post Ch.7 BK....Next steps???

Thanks for your reply We are trying to make everyday count and make some kind of progress toward having good creditably.


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


Take the FICO Fitness Challenge
New Contributor
Credit_Me
Posts: 52
Registered: ‎06-14-2012
Re: 1st CC post Ch.7 BK....Next steps???

Same here. I am rebuilding and want to get in decent shape to purchase a home in two years. I think I am obsessed as I check my report constantly and always seem to come up with a new plan on removing derogs. Have had success removing a couple of collections and one account that I was listed as an AU which got charged off. The rest show as IIB and half of them should be coming off next year. It's kind of embarrasing the amount of time I spent reading these forums :smileyembarrassed: but I've learned so much from everyone else.

 

Just keep working at it and whatever we do let's make sure you don't miss a single payment.


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
Re: 1st CC post Ch.7 BK....Next steps???

Yup that goes for me as well.  My credit is stopping me from starting my own business so I hope that I can make a lot of progress with in the next 2 years.  We also would like to build our house in Hawaii which everyone knows property is very expensive in Hawaii.


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


Take the FICO Fitness Challenge
New Contributor
Credit_Me
Posts: 52
Registered: ‎06-14-2012
Re: 1st CC post Ch.7 BK....Next steps???

Well good luck to you in both your business and home plans.

 

PS. Hawaii is on my list for a vacation - will probably do it when I get a nice travel rewards card :smileyhappy:


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)