@Anonymous wrote:
Wow it's been such a long journey and it's finally over as of yesterday and now we can get to the good stuff! Ready to rebuild. Couple questions;
Will our scores get another bump?
We will be looking for a auto loan soon, we currently don't have one nor was one IIB. We burned Capital one, Credit One, Synchrony/HSN, Kohl’s, Macy's
With our attourny we also have a free course with credit score 720, anyone used this and is it worth it vs rebuilding here?
We have signed up for Fico but not sure what the scores to go by they are all different.
Fico scores 8
Me 519, 481, 509
Husbad 585, 516, 534
I recently recieved my discharge back in July and I recieved a small bump in my score. Nothing special, like 5-8 points between all 3 CBs. Most of the increases for me occured prior to discharge as all the collections fell off and delinquent accounts were closed with a newly aquired zero balance. You will start getting auto loan preapprovals in the mail soon, but the terms will be super-terrible-awful-very-bad. You may want to wait until your scores increase over the next year, but if you have no vehicle at all, I suppose you gotta do what you gotta do. Other people can chime in here, but what I did was get a couple secured cards and a secured loan. I am 3 months in and my scores are already over 600 in 2 CBs and just about 600 in another. I started at about where you guys are. So there is hope! :-)
What I did:
Self secured loan - has no hard pull on your credit report and will report to all CBs. There is like a $9 fee to start and you'll pay around 15%-18% interest. You don't need any money to start. After you get pass $100 in total payments, (it took 3 for me) you can convert your savings into a secured card also with no hard pull, but there is a $25 annual fee. I did this.
OpenSky - No hard pull here, but you will need at least $200 to deposit so you can open the account. Whatever you deposit will be your credit limit. There is a $35 annual fee for this one.
Navy Federal nRewards Secured card - If you or your husband are current or former military, this is probably the BEST option. They will approve you as long as your bankruptcy is discharged as far as I know. You will need to open a savings account with them first, but there is no annual fee and your card can eventually graduate to an unsecured card after 6 months. You will need at least $200 to deposit on the secured card to get the ball rolling here. There will be a hard pull on TU.
Another option: Capital one I have read on this forum is pretty forgiving even if they are iib. They may take a few months though before they will approve you for the Secured Platinum. There will be a hard pull here too.
