HOW TO: From BK7 discharge to 700 in 24 months or less!

[Anonymous]

Thanks.  I will go ahead with that.

In regrads to checking my credit reports.

During the BK I pulled reports from a free annual credit report site.  Can I pull again post BK for free ?

I do have a myIDCare account - thanks to the OPM leak and the only thing there is an old CHASE Card that was closed 4 years ago has made an update after the BK discharge date that the account was charged off.  The entry in the report says PAID - CHARGE OFF in 2012.   Is this new entry something to try to fix?

[Creditwiser]

Sorry for the very late reply.  No, you have to subscribe or else receive a free report from a credit denial.  You can try to dispute the accuracy of the charged off account if it's not being reported correctly.  Have you considered a subscription somewhere to monitor your credit report(s)

[Anonymous]

Thanks getting back to me. I haven't been able to get back on the board until now.

I have MyIDCare to monitor my reports.

I got the Capital One card but I have a question - they gave me a 2K limit - (I was expecting 300)  - Do I still follow the "charge 10% of the limit" rule ? And of course pay if off before the due date.

NTG

[amieric88]

Hey everyone

So I'm at a stall of my rebuild. I got the credit one credit card and I have an open installment for my auto loan that I obtained which is had a 4.5%. I don't know what to do on my next step I can't get the Discover card and capital one I burned in the bankruptcy. And capital one won't give me a card right now and I don't know when they will. So what do I do for my next step

[Anonymous]

I burned CapOne in my BK as well, however 7.5 months after DC, they gave me another shot and 3 times what my original CL was prior to BR.  Granted I was NEVER late and kept low balance on that (even asked my atty PLEASE let me keep this one)... LOL    Anyway just saying CapOne WILL give another shot, just be patient.

#ImNewHere

EDITED:  I just realized this is from Ch7 to 700 in 24.  I was a 13, therefore not really a burn to CapOne.  They got their money so I guess thats different.

[nykos5000]

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@amieric wrote:
In case my question got lost:

So I've had a lot of questions lately - long story short I included my Lexus in my BK but I am hoping that next year or maybe even this year I can lease another car with Lexus financial - are they forgiving if you burned them or should I just forget about it? Any tips and anything you can offer is appreciated

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In regards to including an auto creditor in a BK...YMMV tremedously. Rule of thumb is probably to avoid Lexus and Toyota Financial for at least 3 years. During that time you should have rebuilt your credit and the dealer can justify letting you back in. Of course a healthy down payment will help. I've heard the standard for VW/Audi is 5 years but for some cases they let people back in after 2 years so you might have some luck a few years down the road. Better trying to get in with an auto lender that you did not burn in BK first before going back to those you did burn. 

[Anonymous]

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@Anonymous wrote:

I got the Capital One card but I have a question - they gave me a 2K limit - (I was expecting 300)  - Do I still follow the "charge 10% of the limit" rule ? And of course pay if off before the due date.

NTG

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I think the rule is really "charge as much as you want, and make multiple payments per month, but let 10% report".  So know your billing cycle, know when your car reports (for example one of mine does on the 28th of every month, so I try to make sure to pay it down as far as possible right before).  Make extra payments.  If your monthly expenses were $6000 you could theoretically charge and pay and charge and pay and charge and pay.  

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I got the Capital One card but I have a question - they gave me a 2K limit - (I was expecting 300)  - Do I still follow the "charge 10% of the limit" rule ? And of course pay if off before the due date.

NTG

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I think the rule is really "charge as much as you want, and make multiple payments per month, but let 10% report".  So know your billing cycle, know when your car reports (for example one of mine does on the 28th of every month, so I try to make sure to pay it down as far as possible right before).  Make extra payments.  If your monthly expenses were $6000 you could theoretically charge and pay and charge and pay and charge and pay.  

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Doing exactly this is what turned my $3000 starting limit into $7000 in 2 months

[Anonymous]

So, I tried to find this on my own and no success. I hate to assume so I am going to ask.  You want your accounts that were IBB to reflect zero-- does it matter if it's a dash (--) and not an actual zero?

I.E.

Date Opened Nov 1, 2011

Balance -

Original Balance $19,202

[Anonymous]

I received a letter from one of the CRA's stating that they denied my dispute.  I also received a denial from the creditor.  What is my next step to dispute the denial?
Is this when you send the Varification Demand?  Or is there a different way to handle it if I have received a response from the Creditor and CRA.

The accounts in question are old student loans that have a random 60 days past due in the middle of 2012.  I had a retroactive forberance in place and despite sending the proof of forberance they both have denied my claim.