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Bouncing back after Ch7 and then ruining what was built after it

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Bouncing back after Ch7 and then ruining what was built after it

Hi all -
Have a few questions. I successfully filed for Chapter 7 bankruptcy and was on the fast track to getting back up to my former high scores.

Shortly after that discharge a few months went by, I had lost my job and the credit cards that I had built up Albeit not large limits total ($2250) I was able to keep up on payments; but after a while with them not being on time but before 30 days late the minimum payment start becoming more more expensive from the bad credit card lenders charging super high fees and super high interest, it’s gotten pretty swollen now and didn’t have the money to pay what it wanted.. so on some credit lines I have 30/60s and one 90, and I have a “FTP” code on my auto loan that I got repossessed and I redeemed by paying it all and retaining the car. Which now shows current and one 30 day late - which i think is a positive spin on it.

Sad story long - how do i bounce back after a bankruptcy and then a devastating job loss? Obviously I didn’t have much in savings if my ass was in bankruptcy to begin with - but I also feel i need a fresh start. Any tips, hints or tricks you all can give me. I hate how I ruined such great progress - had an 18.5% auto loan after I let my Lexus go back to them and then 4 months later refied My then new car for 4.5.

I’m stuck - and don’t know what to do to fix it. Im a super uglier risk now. I couldn’t even get another separate bank account for savings because my credit is totally ruined. I’m
Back working making great money again and can pay off these cards very quickly; within a month, two max, i and need to repair again (once again). Help?!
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Re: Bouncing back after Ch7 and then ruining what was built after it


wrote:
Hi all -
Have a few questions. I successfully filed for Chapter 7 bankruptcy and was on the fast track to getting back up to my former high scores.

Shortly after that discharge a few months went by, I had lost my job and the credit cards that I had built up Albeit not large limits total ($2250) I was able to keep up on payments; but after a while with them not being on time but before 30 days late the minimum payment start becoming more more expensive from the bad credit card lenders charging super high fees and super high interest, it’s gotten pretty swollen now and didn’t have the money to pay what it wanted.. so on some credit lines I have 30/60s and one 90, and I have a “FTP” code on my auto loan that I got repossessed and I redeemed by paying it all and retaining the car. Which now shows current and one 30 day late - which i think is a positive spin on it.

Sad story long - how do i bounce back after a bankruptcy and then a devastating job loss? Obviously I didn’t have much in savings if my ass was in bankruptcy to begin with - but I also feel i need a fresh start. Any tips, hints or tricks you all can give me. I hate how I ruined such great progress - had an 18.5% auto loan after I let my Lexus go back to them and then 4 months later refied My then new car for 4.5.

I’m stuck - and don’t know what to do to fix it. Im a super uglier risk now. I couldn’t even get another separate bank account for savings because my credit is totally ruined. I’m
Back working making great money again and can pay off these cards very quickly; within a month, two max, i and need to repair again (once again). Help?!

I wont sugar coat this at all......

 

Anything negative AFTER a BK is really bad.  Not only were you rebucketed once your BK hit the reports, but lates 30, 60, 90, etccc AFTER that, is considered by FICO even worse than that! Now you're in an even more dirtier bucket. 

 

The only advice I have at this point for you right now, is get those accts paid down, and if any of those CC accts are currently closed with a balance, pay those to ZERO  first as fast as you can, while paying on the other delinquent accts as well.  Once you have them paid off start doing GW letters. 

 

List out your cards/balances/open or closed, and lets see whats goign on......


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 2 of 2
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