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

[0REDSOX7]

If it were up to me, I would never have credit cards but that's the world we live in.

So with that said, I'm much better off with the BK than I was previously, especially health wise.

I've got five positive trade lines reporting (two credit cards, a student loan and two auto loans) and am seeing the benefits of my hard work (patience) with the help of all you here.

This plan works. I had to modify it because capital one as mentioned thinks I'm the plague and avoids me, but, oh well... I can do without them...for now.

[Chilli]

Hello everyone, I'm checking in to thank everyone for their valuable help, report my journey on this plan and ask for advise.

I filed bk 13 on 4/2013 and dc 1/28/2014. My score at the time of filing was around mid 500. From following the plan the best I could (straying  every now and then...temptation) My FICO scores are now:

TransUnion 706

Equifax 668

Experian 688.

I know these numbers will change..go up a little once all of the payments are posted for this month.

I fought hard cleaning up my reports...but i admit, I started working on cleaning up my reports the day after I filed. Today, I have the following left on all of my credit reports...the bankruptcy and 1 charge-off left. I also have a judgment only on Equifax. I don't understand why Equifax refuse to delete it when the Experian and Transunion deleted the same judgment off my credit reports after I was discharged. Any advise on how to handle this issue with Equifax would be appreciated because I've disputed it several times...!

 I have 6 inquires on each of my credit reports...mainly from NFCU and two when I tried Barclays but got denied because I need to show more payment history.

I have obtained the following credit since my discharge which did bring my scores down a little because of the 6 inquires and new accounts that posted...my AAoA decreased ....BUT I AM GARDENING NOW...since I understand that patience is the key here.

Credit One -                    opened 2/2014         $600

Cap 1 -                            opened 2/2014      $3,000

Kohl/Cap 1 -                   opened 2/2014          $400

NFCU - Cash rewards - opened 3/2014 -       $500

NFCU - Go rewards -     opened 5/2014       $2,000

NOTE: The judgement is from Capital One (9/2010) and I burned it in bankruptcy...report says satisfied IIB.

My oldest closed acct. is 2002 with the last activity date of 2005

I added an AU - date opened 2008 with a $4,000 limit...this acct. did have a high utilization but it is being paid off quickly...the util. is 2,000 now.

Please, all advise would be appreciated....about the judgment on equifax...and also advise on my next steps moving forward with this plan. 

Again, I  thank each and everyone of you for giving me the wisdom, PLAN and courage to move forward after bankruptcy. Honestly, I could not have gotten this far in this short amount of time without you. I am thankful for what I have. Thank you all again.

[uktaurusbulba]

Will you be denied credit, no matter what your score, bc of the bk? Even after the IIBs fall off?

[Chilli]

BUMP

[Delia72]

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@uktaurusbulba wrote:

Will you be denied credit, no matter what your score, bc of the bk? Even after the IIBs fall off?

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Only for some of the higher cards like Citi, AMEX, Chase and some Discover Cards.  Between 6 months post-discharge and 13 months, Discover IT and Barclay's are good ones to app for.  The aforementioned cards usually want the BK to be off of your CR before approving.  Assuming you have reestablished 650+.

[pizza1]

I wouldn't apply for discover till 2 yrs post discharge. Barclays wants to see a minimum of 6 months of payments with someone else first before they will approve. Don't waste your time or HP on discover till your scores are high 600's or higher.

[grassfeeder]

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@pizza1 wrote:
I wouldn't apply for discover till 2 yrs post discharge. Barclays wants to see a minimum of 6 months of payments with someone else first before they will approve. Don't waste your time or HP on discover till your scores are high 600's or higher.

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This ^.  I'm waiting for my 24 months post discharge and I'm at 674 right now - I'll wait till I'm at 680 and then app for Discover IT

[Scupra]

Keep me updated on that discover app! I almost did it! Well, I did but had EQ frozen! They didn't want to try anything else and sent me a letter saying they couldn't pull my credit.

[cirrus00]

@pizza...is there a reason you advise waiting 24 months to app for discover? Just wondering since this plan says to wait 11 months. Is 24 months better?

[Chilli]

According to the plan, 12-13 months for Discover It and Barclays Card. Why are you waiting 24 months? Did you previously apply according to the timeframe listed in the plan?