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Hi, I'm new to fico and 5 week post DC and just purchased my EQ score today. I want nothing more then to take this fresh start and start over and rebuild great credit, however the whole experience of rebuilding is terrifying. My credit prior to bankruptcy was a absolutely mess. My current fico score is 576. What I can tell it looks as everything was included properly (will do a more intense look later this week)
Here's what say hurting my score the most
1. Serious delinquency, public record ..... 14 account 60 days 1. Public record and 1 collection
2. You have one or more accounts showing missed payment 15 accounts missed payment
2. Missed a payment recently 5 months ago
I have one revolving account showing current never late- it's at a 75% balance (It was a 100% in Nov, been working very hard it get it below 30%)
and several students loans that are current in deferment (I'm currently a student)
I just applied for a Credit one card and was approved for $300 ( I will not be carrying a balance on this card PIF every month)
Is there hope of ever reaching over 600 in the next year with all the negatives? ( most of the late pay would have never happen had I not stopping paying for credit card while was filing for bankruptcy attorney advised to pay nothing.)
Any advised would be helpful
I'll just say it looks like you have a LOT of work to do. But, there is always hope. I'm in a bad way myself, but I won't give up "hope." Sometimes it is all we have.
Good luck!
Welcome and congrats, there is hope search for bk to 700 on this forum.
I am 11 months post discharge and I can tell you there is hope. Your file looks no worse than mine . After talking to my lawyer, I started with two secured cards even before my discharge. 6 months after discharge I received a preapproval for a Merrick M/C with a $600 limit that since was doubled to $1200. 3 months later I received a preapproval for a Barclays Rewards M/C for $1500. Since than I have received Amazon , Walmart, Target, and Kohls cards, and I just opened a Capitalone Quicksilver One card with a $1500 limit. All three of my FICO's are right at 620. I intend now to do nothing but gardening for the next 6 to 9 months and expect my scores to be over 650. If you have a good plan and stick to it you will see the light at the end of the tunnel. Good luck.
@ha05 wrote:Hi, I'm new to fico and 5 week post DC and just purchased my EQ score today. I want nothing more then to take this fresh start and start over and rebuild great credit, however the whole experience of rebuilding is terrifying. My credit prior to bankruptcy was a absolutely mess. My current fico score is 576. What I can tell it looks as everything was included properly (will do a more intense look later this week)
Here's what say hurting my score the most
1. Serious delinquency, public record ..... 14 account 60 days 1. Public record and 1 collection
2. You have one or more accounts showing missed payment 15 accounts missed payment
2. Missed a payment recently 5 months ago
I have one revolving account showing current never late- it's at a 75% balance (It was a 100% in Nov, been working very hard it get it below 30%)
and several students loans that are current in deferment (I'm currently a student)
I just applied for a Credit one card and was approved for $300 ( I will not be carrying a balance on this card PIF every month)
Is there hope of ever reaching over 600 in the next year with all the negatives? ( most of the late pay would have never happen had I not stopping paying for credit card while was filing for bankruptcy attorney advised to pay nothing.)
Any advised would be helpful
What is this? How did it survive the BK, or why wasn't it included? That is def a major factor bringing your score down. Is everything on your report reporting correctly? Should read $0 bal and IIBK.
Best response I can offer is that you spend some time reading the many posts on this forum that answer your very question ... many of them in excruiating detail. All the best with your rebuilding efforts and I encourage you to avail yourself of th emany great tips/recommendations that can be found in previously posted material here.
Here is a GREAT place to start ha05
The card with the balance is a care credit card. I'm a AU on the card with a family member. I want to have it paid off by the end of next month. I'm hoping that will boost my score some.
@ha05 wrote:The card with the balance is a care credit card. I'm a AU on the card with a family member. I want to have it paid off by the end of next month. I'm hoping that will boost my score some.
Have the family member remove you as an AU on that CareCredit (this doesn't mean you can't still pay the bill) then follow the thread that Scupra posted... You'll do just fine!
-SM