topic Re: What To Do Now in Bankruptcy

What To Do Now

Anonymous — Thu, 14 Jan 2021 02:02:56 GMT

My Ch. 7 was discharged in June 2020. I bought a used car and payed on time every month since the month of my discharge. I did a ridiculous app spree and was denied by every single card so far (waiting for a few responses). I have a CapOne Secured on the way with a $300 limit, pulled the trigger on Credit One and got $400, also have Kohl's for a measly $300. My scores are low to mid 600's. WHAT DO I DO NOW??

Denied Apps (the ones without a denied next to it, I haven't heard from - I'm assuming all denials at this point):

Bed Bath & Beyond (COMENITY):
Carter’s (COMENITY):
Menards/Cap1:
Wayfair (Citi Bank):
IKEA (COMENITY):
Lowe’s (Synchrony): Denied
Nordstrom: Denied?

Discover: Denied
First Bank of Omaha: Denied
Upromise (barclaycard): Denied on recon
BP (Synchrony): denied
TCF (First Bank of Omaha): Denied
Target (CALL 8am-9pm): Denied
Walmart/Cap1: Denied
Macy’s: *Attempt to collect a debt*
Bank of America: Denied
Avant (WebBank): Denied
BestBuy (CITI): Denied
Firestone (CFNA): Denied
Petal: Denied
Old Navy: Denied
Apple: Denied
Amazon: Denied on recon

edited to add: I qualify for a NFCU Secured which I'll get when I can save more for a higher limit. Is there anything else I can do to help my rebuild? I really wanted a real unsecured.

Capital One Decline Due to Recent Opening

Anonymous — Thu, 14 Jan 2021 01:50:55 GMT

I've been applying for cards to attempt to rebuild due to bankruptcy. I was declined by CapOne for Walmart due to having recently opened a secured card. Is there any way to recon this? Anything I can do?

Re: Capital One Decline Due to Recent Opening

FinStar — Thu, 14 Jan 2021 02:08:57 GMT

Sorry to hear about the Walmart denial. Unfortunately, Capital One does not reconsider system-declined decisions.

Is this a BK7 or BK13? When was it discharged?

Re: What To Do Now

Mjhall85 — Thu, 14 Jan 2021 02:09:43 GMT

It's great you are discharged,but I would cool it with the apps as if that is hard pulls that is quite a bit and you were probably denied partially cause they see you as credit seeking with all the applications. I would personally not app for anything else and save up money and get the nrewards secured and after that garden for some time till the NFCU card unsecures. Just my two cents

Re: Capital One Decline Due to Recent Opening

Anonymous — Thu, 14 Jan 2021 02:12:03 GMT

Wow, darn it! It was a Ch13 converted to a Ch7 and DC'd in June 2020!

Re: What To Do Now

Anonymous — Thu, 14 Jan 2021 02:13:14 GMT

Got it! Your 2c is valuable. I was thinking that might be the consensus, but was hoping I was wrong!

Re: What To Do Now

Bankrupt2019 — Thu, 14 Jan 2021 02:33:06 GMT

@Anonymous wrote:
My Ch. 7 was discharged in June 2020. I bought a used car and payed on time every month since the month of my discharge. I did a ridiculous app spree and was denied by every single card so far (waiting for a few responses). I have a CapOne Secured on the way with a $300 limit, pulled the trigger on Credit One and got $400, also have Kohl's for a measly $300. My scores are low to mid 600's. WHAT DO I DO NOW??

Denied Apps (the ones without a denied next to it, I haven't heard from - I'm assuming all denials at this point):
Bed Bath & Beyond (COMENITY):
Carter’s (COMENITY):
Menards/Cap1:
Wayfair (Citi Bank):
IKEA (COMENITY):
Lowe’s (Synchrony): Denied
Nordstrom: Denied?
Discover: Denied
First Bank of Omaha: Denied
Upromise (barclaycard): Denied on recon
BP (Synchrony): denied
TCF (First Bank of Omaha): Denied
Target (CALL 8am-9pm): Denied
Walmart/Cap1: Denied
Macy’s: *Attempt to collect a debt*
Bank of America: Denied
Avant (WebBank): Denied
BestBuy (CITI): Denied
Firestone (CFNA): Denied
Petal: Denied
Old Navy: Denied
Apple: Denied
Amazon: Denied on recon
edited to add: I qualify for a NFCU Secured which I'll get when I can save more for a higher limit. Is there anything else I can do to help my rebuild? I really wanted a real unsecured.

Get the NFCU card at $200 use it wisely and it will likely graduate to $2k if you behave. Forget all the sub-prime and store cards, get in with Navy. Just my $0.02

Re: Capital One Decline Due to Recent Opening

FinStar — Thu, 14 Jan 2021 02:38:45 GMT

@Anonymous wrote:
Wow, darn it! It was a Ch13 converted to a Ch7 and DC'd in June 2020!

My recommendation is to lay off the apps for a while as you continue on your rebuild journey. It appears, based on the initial post, that you have 3 cards (potentially a future one if NFCU approves the secured CC), and the number of denials are definitely a sign that things need to slow down.

Otherwise, this is sending a wrong signal which may be perceived as a sign of desperation.

Remember, rebuilding takes time and a good strategy, especially in today's economic and lending climate. Just be patient with your efforts.

Re: What To Do Now

Anonymous — Thu, 14 Jan 2021 03:01:24 GMT

Understood! I'll get the NFCU and garden for a while. I'm obviously impatient, a trait that I need to work on! Really hoping to be at least in the 700s by next summer.

Re: What To Do Now

Bankrupt2019 — Thu, 14 Jan 2021 17:22:40 GMT

@Anonymous wrote:
Understood! I'll get the NFCU and garden for a while. I'm obviously impatient, a trait that I need to work on! Really hoping to be at least in the 700s by next summer.

I fully understand impatient. Keep us posted on how you're progressing!

Re: What To Do Now

Azuieldrago — Thu, 14 Jan 2021 20:17:57 GMT

You have to slow your roll. I am about a month a way from my 1 yr discharge date of a BK7. My scores need to be updated along with my inquires. But those cards are what I have gotten since I filed plus a loan for a used Harley and now a 2021 Chev Silverado RST. Granted I had some additional funds to help secure my truck loan. But you need to go slow. Do prequals only. If they don't have one, don't do it.

Re: What To Do Now

dragontears — Thu, 14 Jan 2021 23:58:48 GMT

@Anonymous wrote:
Understood! I'll get the NFCU and garden for a while. I'm obviously impatient, a trait that I need to work on! Really hoping to be at least in the 700s by next summer.

I think you need to adjust your expectations on getting to the 700s in a year after BK.....

Re: What To Do Now

Bankrupt2019 — Sat, 16 Jan 2021 04:42:52 GMT

@dragontears wrote:
@Anonymous wrote:
Understood! I'll get the NFCU and garden for a while. I'm obviously impatient, a trait that I need to work on! Really hoping to be at least in the 700s by next summer.
I think you need to adjust your expectations on getting to the 700s in a year after BK.....

It's not an unrealistic goal...

Re: What To Do Now

Anonymous — Mon, 08 Feb 2021 22:09:12 GMT

Don't feel bad I'm going through same thing. I filed ch 13 in Oct 17 converted in July 20. Discharged in Sep. I kept bugging discover every other day by pre approved site. I finally got approved 6500. Scores are mid 650's. With all 3 reports. And just got Capital One Platinum.