Ch 13 rebuild

[medicgrrl]

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@tnvols wrote:

That's an inspiring recovery.  We have 2 payments left on our 5 year Chp 13 plan.  All classes and paperwork is already submitted to our attorney.  We have no collections or chargeoffs showing and we got permission late last year to buy a new vehicle thru our credit union.  That loan is coming up on one year of perfect history.  Scores are now 630-657-672 roughly.  The only negative showing at this point is the BK filing.  Counting the days until we are free, probably not until close the end of this year once we get the discharge papers.  My local credit union loves me and promises me a shiny new unsecured card once I'm free to apply.  We plan to do the following in 2018.

1. Card from my local Credit Union.

2. Cap One card, secured or unsecured.  

3. Discover IT secured or unsecured

4. We are new members of NFCU.  We plan to apply for a card after a few months of revolving history and see if we can get our foot in.

I think our scores will hit 700 after a few months of revolving history and we can start to build from there.  Within another 2 years, the bk will be gone and we should be mid 700's by then.  Current DTI is only 3% including the car payment so we don't need credit, we simply need a great credit score for mortgages and car loans down the road. 

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Congrats on having a plan in place prior to your discharge!  That's great that you received a new car loan during your BK.  I was to much of a chicken to try lol

Your plan does sound really good!  NFCU requires 1 year post discharge before they'll approve an unsecured card.  They will approve a secured card and a CLOC prior to 1 year.

[tnvols]

That sounds reasonable with regards to NFCU.  We could throw $1,000 into the secured card to show them it's just gonna be buying a cheeseburger dinner each month.  By the time the year is up, we should be able to do some credit line building with them.  

[Scupra]

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@medicgrrl wrote:

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@tnvols wrote:

That's an inspiring recovery.  We have 2 payments left on our 5 year Chp 13 plan.  All classes and paperwork is already submitted to our attorney.  We have no collections or chargeoffs showing and we got permission late last year to buy a new vehicle thru our credit union.  That loan is coming up on one year of perfect history.  Scores are now 630-657-672 roughly.  The only negative showing at this point is the BK filing.  Counting the days until we are free, probably not until close the end of this year once we get the discharge papers.  My local credit union loves me and promises me a shiny new unsecured card once I'm free to apply.  We plan to do the following in 2018.

1. Card from my local Credit Union.

2. Cap One card, secured or unsecured.  

3. Discover IT secured or unsecured

4. We are new members of NFCU.  We plan to apply for a card after a few months of revolving history and see if we can get our foot in.

I think our scores will hit 700 after a few months of revolving history and we can start to build from there.  Within another 2 years, the bk will be gone and we should be mid 700's by then.  Current DTI is only 3% including the car payment so we don't need credit, we simply need a great credit score for mortgages and car loans down the road. 

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Congrats on having a plan in place prior to your discharge!  That's great that you received a new car loan during your BK.  I was to much of a chicken to try lol

Your plan does sound really good!  NFCU requires 1 year post discharge before they'll approve an unsecured card.  They will approve a secured card and a CLOC prior to 1 year.

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I'd really love for someone to test this.. I realize NFCU is changing every day it seems, but there have been plenty approved before one year. Should anyone want to GP it, let me know please!

[medicgrrl]

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@Scupra wrote:

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@medicgrrl wrote:

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@tnvols wrote:

That's an inspiring recovery.  We have 2 payments left on our 5 year Chp 13 plan.  All classes and paperwork is already submitted to our attorney.  We have no collections or chargeoffs showing and we got permission late last year to buy a new vehicle thru our credit union.  That loan is coming up on one year of perfect history.  Scores are now 630-657-672 roughly.  The only negative showing at this point is the BK filing.  Counting the days until we are free, probably not until close the end of this year once we get the discharge papers.  My local credit union loves me and promises me a shiny new unsecured card once I'm free to apply.  We plan to do the following in 2018.

1. Card from my local Credit Union.

2. Cap One card, secured or unsecured.  

3. Discover IT secured or unsecured

4. We are new members of NFCU.  We plan to apply for a card after a few months of revolving history and see if we can get our foot in.

I think our scores will hit 700 after a few months of revolving history and we can start to build from there.  Within another 2 years, the bk will be gone and we should be mid 700's by then.  Current DTI is only 3% including the car payment so we don't need credit, we simply need a great credit score for mortgages and car loans down the road. 

---

Congrats on having a plan in place prior to your discharge!  That's great that you received a new car loan during your BK.  I was to much of a chicken to try lol

Your plan does sound really good!  NFCU requires 1 year post discharge before they'll approve an unsecured card.  They will approve a secured card and a CLOC prior to 1 year.

---

I'd really love for someone to test this.. I realize NFCU is changing every day it seems, but there have been plenty approved before one year. Should anyone want to GP it, let me know please!

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I was denied and then approved after my BK was removed.  I can't remember the user's name on here that works for NFCU, but he stated that it is their policy.  I do believe you can have your card unsecured prior to the one year though.

[Scupra]

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@medicgrrl wrote:

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@Scupra wrote:

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@medicgrrl wrote:

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@tnvols wrote:

That's an inspiring recovery.  We have 2 payments left on our 5 year Chp 13 plan.  All classes and paperwork is already submitted to our attorney.  We have no collections or chargeoffs showing and we got permission late last year to buy a new vehicle thru our credit union.  That loan is coming up on one year of perfect history.  Scores are now 630-657-672 roughly.  The only negative showing at this point is the BK filing.  Counting the days until we are free, probably not until close the end of this year once we get the discharge papers.  My local credit union loves me and promises me a shiny new unsecured card once I'm free to apply.  We plan to do the following in 2018.

1. Card from my local Credit Union.

2. Cap One card, secured or unsecured.  

3. Discover IT secured or unsecured

4. We are new members of NFCU.  We plan to apply for a card after a few months of revolving history and see if we can get our foot in.

I think our scores will hit 700 after a few months of revolving history and we can start to build from there.  Within another 2 years, the bk will be gone and we should be mid 700's by then.  Current DTI is only 3% including the car payment so we don't need credit, we simply need a great credit score for mortgages and car loans down the road. 

---

Congrats on having a plan in place prior to your discharge!  That's great that you received a new car loan during your BK.  I was to much of a chicken to try lol

Your plan does sound really good!  NFCU requires 1 year post discharge before they'll approve an unsecured card.  They will approve a secured card and a CLOC prior to 1 year.

---

I'd really love for someone to test this.. I realize NFCU is changing every day it seems, but there have been plenty approved before one year. Should anyone want to GP it, let me know please!

---

I was denied and then approved after my BK was removed.  I can't remember the user's name on here that works for NFCU, but he stated that it is their policy.  I do believe you can have your card unsecured prior to the one year though.

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That would be Leonel9 I was approved for an unsecured card 4 months post discharge. There has to be something we are missing here.

Have you seen someone graduated prior to 12 months? That would be great news!! Up until now I thought the first review was at month 12. NFCU needs to stop changing on us so much

[medicgrrl]

Haha now you've got me curious... I'm going to research that.

[tnvols]

I just had to call NFCU to ask.  I have to say that I just spoke with the sweetest rep you could ever hope to get.  She knew everything there was to know about cards, accounts, mortgages, etc.  She said there is no set waiting period policy having to do with BK discharges.  It is based on your overall profile.  She did mention that if I applied for unsecured and got denied, I would have to apply again under a new HP for the secured card. 

I'm convinced that my best move is to just move $1,000 or so into my account in the next couple of months and just go for the secured card as soon as I'm discharged.  That way I'm almost guaranteed a foot in the door with NFCU and she said it takes about a year to convert with just a soft pull review.  That's fine by me and it will only cost me one HP.  From there, I will be off to the races. 

Also I had to ask about the new AMEX and she could only give me the standard "Watch the Website For Updates" response.  She said the first week of the month is when all the announcements are made.