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2 mo post dc.

2b2rich
Established Contributor

Re: 2 mo post dc.


@Logan22 wrote:

So I'm 2mo post chapter 7 discharge. 
I got that crappy credit one for 300cl. To help rebuild. 
I got a kohls card 300cl (always with the killer deals for little man's school clothes) 

I'm wondering what the best move is here, save up and drop 2-3k on a cap one secured card or....   I'd prefer to skip the secured route, dump credit one and never look back, (hate that card) 

I burned a lot of players in my bk7. 
cap one, synchrony, pfcu,nfcu, Amex. 

I spent a lot of time feeling like crap about it especially considering nfcu and pfcu were really good to me, but I've come to terms that sometimes in life, things happen! And sometimes we just get humbled in that process. 
anyhow, I'm wanting to rebuild and do what I know I can do. 
I'm guessing that pfcu and nfcu will never be in my favor again. So, any suggestions on what to do, where to apply and when, would be greatly appreciated. 

goal is mortgage and truck loan within 16mo. 

thanks all! 


Credit One is no longer the issuer to be completely frowned upon.  I received one of their cards maybe a year out (I had not applied previously, but got this offer in the mail) with no annual fees etc. interest rate is maybe 23.99v which I don't think is too bad for someone whose BK7 had only been discharged 8 months before. I just keep it paying it off and received a CLI about 6 months out from $1k - $1,250.    Keep your Kohl's since you will use it.    See if you can get a card similar to the Secured that NF offers (I know you burned them, but maybe a CU with a similar one) that will graduate to unsecured in so many months.  If so, I would go ahead and close the CreditOne if it has an annual fee.  I'm not sure how much it may hurt your score to close it in another year, but if it will, then the annual fee you paid up front is worth closing now perhaps (if not then consider keeping it).  In time watch for Credit One offers in the mail for the unsecured with no annual fees.  I have the American Express they issue w/$0 annual fees and comes with Rewards.  You really want to get cards right now, that you intend to keep for awhile.

 

As other's have mentioned, a personal loan would be a great idea too.  One as small as $1k would help, but try to have $300-$400 set aside to pay it down the first payment after it reports to the bureaus so that the balance to initial loan amount is not super high.

 

One other thought, not sure how much you burned NFCU for, but they have a reputation for forgiving a lot of things if you pay them back for what you burned them for.  They have a special Bankruptcy Department you can speak to and find out what you would need to do.  Good luck!

Chapter 7 Discharged & Closed Jan 2020
Message 11 of 17
AirForceOne
Frequent Contributor

Re: 2 mo post dc.

@2b2rich  For data points:  Do you happen to have any contact information for the Navy Federal bankruptcy department, such as website, phone number, or point of contact data?

Message 12 of 17
2b2rich
Established Contributor

Re: 2 mo post dc.


@AirForceOne wrote:

@2b2rich  For data points:  Do you happen to have any contact information for the Navy Federal bankruptcy department, such as website, phone number, or point of contact data?


Sorry, I don't know that there is a direct number to their Bankruptcy Dept from the outside.  Most post I've read on here they mention calling NFCU and either asking to be transferred to the BK Dept, or being transferred to them after explaining that they would like to pay an old debt.  Here is one of the post where I read it:
https://ficoforums.myfico.com/t5/Bankruptcy/NFCU-burned/td-p/6165371 

Chapter 7 Discharged & Closed Jan 2020
Message 13 of 17
Logan22
Established Member

Re: 2 mo post dc.

They got burned pretty bad.  15k cloc, 3500card.  Card and cloc both beyond limits once they added lates,fees,penalties all that crap.  But yeah, I hate that feeling! 

id love to get back in and make it right. Just need like 20k lmao! 

Message 14 of 17
Logan22
Established Member

Re: 2 mo post dc.

Cap one let me back in already, QS one 300cl. Not much, but a start! 
looking into installment with Andrew's now. 

Message 15 of 17
FireMedic1
Community Leader
Super Contributor

Re: 2 mo post dc.


@Logan22 wrote:

Cap one let me back in already, QS one 300cl. Not much, but a start! 
looking into installment with Andrew's now. 


Congrats @Logan22 Gotta start somewhere. Its still a revolving account to build on!




Homeowner since Sept 2020. Sharing my experiences after BK from learning here. Rebuild to recovery from the @ 540's.
Message 16 of 17
Logan22
Established Member

Re: 2 mo post dc.

Absolutely! I'm just grateful they let me in period.  

Message 17 of 17
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