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1 month post chapter 7 discharge progress.

anniea4001
Contributor

1 month post chapter 7 discharge progress.

Good morning everyone,

 

Today marks 1 month and 2 days of my chapter 7 discharge and I just wanted to post about my progress so far. Hopefully this helps someone.

 

I received my discharge on 03/17. The very next day my reports started updating the status of my BK to discharged, so I decided to pull the trigger on my CapOne pre approval and I was instantly approved for 3k, no AF.

One week after, I received a pre approval from Ollo thru my Credit Karma, applied and was instantly approved for $500, also no AF.

Since then I have received probably like 4 pre approvals in the mail, which I'm just not interested in. But point is, you can get credit after BK. Fairly quickly from my experience.

 

My scores have increased quite a bit since my discharge. 

My recent credit cards are not yet reporting to all bureaus, except CapOne which reported today on EX, hence the 32 point increase. 

 

I was so hesitant to file because of all the myth behind BK. I thought I would be impossible to get credit again and that it would take me forever to get my scores up.

Honestly, I wish I hadn't been so stubborn and had filed sooner.

Screenshot_20210317-205015_Chrome.jpgScreenshot_20210419-083849_myFICO.jpg

 

 

 

 

6 REPLIES 6
AllZero
Super Contributor

Re: 1 month post chapter 7 discharge progress.

Congratulations on your success! Those are great score increases.
Message 2 of 7
anniea4001
Contributor

Re: 1 month post chapter 7 discharge progress.

Thanks @AllZero 

 

I am actually shocked my scores have improved so much in such a short time. I was definetely not expecting that. 

I know the scores will change some more once both cards are reporting to all bureaus so I am waiting on that to see where my scores end up at for now. 

Meanwhile, keeping utilization around 2-3%

Message 3 of 7
chalupaman
Super Contributor

Re: 1 month post chapter 7 discharge progress.

Yup that's normal. You get big score increases at the beginning and you'll start seeing a bit less action over time. Focus mostly on aging those new accounts you got approved for and you'll be golden for the rest of the year. Congratulations. 

Main cards: Penfed Power Cash Rewards - $10k, Kay Jewelers - $5.5k, Jared - $4.5k, Capital One Platinum - $3k, Best Buy - $2k, Amex Delta Gold (AU) - $1k, NFCU cashRewards - $500

Other cards I use atm: Firestone CFNA - $2.4k, CareCredit - $1.5k, Mercury MC - $1.5k, Amazon Store Card - $600, Ollo MC - $600, Mission Lane Visa - $500

Other TLs: Appliances Connection - $3.8k, Wayfair Fortiva - $2k, Williams Sonoma - $600, NY & Company - $500, Macy’s - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: EX - 671, EQ - 686, TU - 672
Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516
Total TLs: $43k
Total Utilization: 2%

It is possible to get your credit back into shape. Just be patient, let accounts age when needed and apply for what you need.

Message 4 of 7
anniea4001
Contributor

Re: 1 month post chapter 7 discharge progress.

Thanks @chalupaman 

 

That is excantly the plan. I am off to garden for about 6-9 months before my next application.

 

The whole point of me focusing on no AF cards, so I can age them. I personally do not really need anything else other than cards since I kept my auto loan and have 3 student loans. So I just want cards that can grow and age with my report. 

Message 5 of 7
ZX14RIDA
Frequent Contributor

Re: 1 month post chapter 7 discharge progress.

Congrats. I felt the same way about BK until a friend of mine sat me down and convinced me to file. Glad I listen. Wish I never had to but that's life. I think the myths are spread to try and discourage people from filing but it's not the boogeyman people try and make it out to be. 

NFCU secured card $600 First Premier $300 Mission Lane $600 Capital One Platinum $3000 Equifax fico 8 638 Transunion fico 8 623 Experian fico 8 617
Message 6 of 7
anniea4001
Contributor

Re: 1 month post chapter 7 discharge progress.

Thanks everyone for your feedback. 

 

I have a little update.

Scores updated again today.

Currently sitting at

EQ 632

TU 630

EX 653

 

I also found my old scores from back in Feb, about a month and 2 weeks after filling and I must say, I am pleasantly surprised by the big improvement I have seen so far.

Scores as of 02/01/2021

EQ 583

TU 536

EX 595

 

Still waiting on some updates as both of my credit cards are not reporting.

My car loan has not reported since Nov last year either, but Wells Fargo seem to be kind of slow in updating their stuff after the reaffirmation

Also, student loans just recently popped up back in my reports. So just waiting for everything to be reporting fully and correctly. 

 

Anyone has any recommendations that could help me get closer to the 700s in the next year? 

Message 7 of 7
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