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About to file 7

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New Member

Re: About to file 7

Thanks for all your help! I'm just learning this process, we are young but with Job less and the debt it sucks. 

 

Message 11 of 16
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Frequent Contributor

Re: About to file 7

I burned CapOne and they approved me.  You can check their prequal page to see if they have any offers for you.  The other good thing is that you can app for CapOne and if they have blacklisted you for including them in BK they don't pull your credit, so you will know and can continue to apply every couple weeks until they want to let you back in.

 

You might not like secured cards, but sometimes they are the only option.  You were not able to pay off any of your debt and had to file BK, most lenders are going to want to see some positive history before extending you credit.  It can be hard to get that positive history when you are constantly denied for cards, so securing your account with a deposit lets the creditor know that they won't be screwed if you stop paying and will help them to trust you more.  The good thing is that they aren't permanent, but usually a starting place.  You can always try for cards that graduate to unsecured after ____ payments.


BK 7 Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (11/2017): EQ-671. TU-665. EX-669.
Goal for 2017: 650's. - made it!! next stop 680's. www.cartkingz.com
Message 12 of 16
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New Member

Re: About to file 7

How do you know if they have blacklisted you?

Message 13 of 16
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Frequent Contributor

Re: About to file 7

you can apply and then if you are denied, check your credit reports for an inquiry from CapOne.  If there is an inquiry then you are not blacklisted, but they declined your application, so you could try to recon for a secured card.  If there is no inquiry from CapOne, then you are blacklisted.  Some people say it took 1 year after DOFD to get back in, others have gotten back in sooner.  Since there are no HPs if you are blacklisted then there's no harm in continuing to try every couple weeks until you get approved.

 

I burned them on 2 cc's and an auto loan in BK and got a credit card the day after discharge, so it's always worth a try.  They are usually pretty forgiving but different people have had different experiences.


BK 7 Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (11/2017): EQ-671. TU-665. EX-669.
Goal for 2017: 650's. - made it!! next stop 680's. www.cartkingz.com
Message 14 of 16
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New Member

Re: About to file 7

Sorry what do the abbreviations mean? DOFD? HPs?

Message 15 of 16
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Super Contributor

Re: About to file 7

DoFD - date of first delinquency

HP - Hard Pull

 

 

This will help you - Common Abbreviations

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
755 EQ FICO 12/2019
750 TU FICO 12/2019
743 EX FICO 12/2019
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Message 16 of 16
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