BK CH7 sound off? I'm curious if any of you successful, after BK stories...

[Anonymous]

can give your 2 cents, maybe comment, so some of us recent BK discharged folks, can get ideas.

Maybe, see if some of us are on track to 700 in 2 years...

I'll start..accounts in my sig, current scores  EQ 651, TU 644, EX 672, 15 mos after discharge.

I have a lame bs collection, from progressive insurance, where I cancelled my insurance, never had a lapse, and I still got billed for that month, on my motorhome.

Back in 2014, report in June 15, only on TU. trying to figure that out without hurting my scores.

thank you, hope this helps everyone.

[CH-7-Mission-Accomplished]

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@Anonymous wrote:

can give your 2 cents, maybe comment, so some of us recent BK discharged folks, can get ideas.

Maybe, see if some of us are on track to 700 in 2 years...

I'll start..accounts in my sig, current scores  EQ 651, TU 644, EX 672, 15 mos after discharge.

I have a lame bs collection, from progressive insurance, where I cancelled my insurance, never had a lapse, and I still got billed for that month, on my motorhome.

Back in 2014, report in June 15, only on TU. trying to figure that out without hurting my scores.

thank you, hope this helps everyone.

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I just passed 24 months and two of my FICO 04 scores are over 700 -- one is 720 and one is 708, the third is 679.

I think you are not likely to hit 700 with only 9 months to go and that many inquiries and new accounts.  In fact I think you will need to have 12 months pass with no new apps or inquiries.  That is my guess.

I am now done for two to three years with applying.  I am in with everyone I want except Penfed and NASA, and they will have to wait.

I do think everybody wants to get to 700, but the thing is that you can only stay at 700 to 710 if you do not apply for new stuff.  Once you get inquries and new accounts, you will get dragged down again, at least for the first few years.

But the truth is that 700 is just for bragging rights.  With a 680, you really have golden scores for approvals.   Really anything above a 660 is probably just fine.

But once people have a solid group of cards, like you do and I do, it's probably best to let them age a couple of years and focus on getting the best scores possible for future car and home loans, and then maybe add one or at most two new quality accounts every year or two.  Just how I am thinking about it.

[bstone]

I'm not going to outline my entire rebuild, but if you have specific questions feel free to ask.

I was discharged end of January 2015, so not quite 11 months ago. My scores currently sit around 640 across the board, my mortgage mid score is at 656 (this is from a mortgage broker).

I have an Ally auto loan at 8.8% for $27,000, two NFCU credit cards with $18,000 limits each plus the $15,000 LOC. Two Cap 1 cards at $2,500 each, Barclay rewards at $1,300 and several store cards. I never had to take Credit One or a secured card.

I'm in the process of closing several accounts now ($1,200 Fingerhut, $750 HSN, $250 Kay and $250 Jared cards are already gone). I have three or four more to close in the next couple months.

I'm in the garden for the next year until a apply for a mortgage.