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Just got my notice of discharge and am needing some advice on where to go next

tag
Anonymous
Not applicable

Just got my notice of discharge and am needing some advice on where to go next

Finally got my discharge notification today from the courthouse database.  Should I wait till I actually receive a letter in the mail to start rebuilding?  I was going to follow the advice posted here, https://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td...  but would definitely appreciate any of your own personal tips.  I can get added on to a couple accounts as an authorized user, but won't if its not necessary.  It doesn't look like I will qualify for Navy FCU, so any runner-up recommendations would be nice.

 

Pretty excited and relieved that this is coming to a close, I really appreciate all of your help with this.

Message 1 of 11
10 REPLIES 10
dragontears
Senior Contributor

Re: Just got my notice of discharge and am needing some advice on where to go next

My advice is to make sure that your reports are updated and accurate before starting to rebuild. All included accounts should be listed with $0 balance and some kind of IIB notation, this may take 30 days to happen 

Message 2 of 11
sccredit
Valued Contributor

Re: Just got my notice of discharge and am needing some advice on where to go next

IMO the AU accounts are worth it if they are solid accounts.  

Message 3 of 11
FireMedic1
Community Leader
Mega Contributor

Re: Just got my notice of discharge and am needing some advice on where to go next

Like @dragontears said wait. At least up to 30 days after DC. Check your reports and make sure they all say IIB and $0 balance. Why? Your going to get a score rise for being legally out of debt. In some, not all cases, and depending on who got burned. You may be able to go the unsecured route instead of secued. Dont rush it.


Message 4 of 11
Anonymous
Not applicable

Re: Just got my notice of discharge and am needing some advice on where to go next

Thanks for the advice on that.  I just pulled my reports and sent out the first round of challenge letters, making sure that everything showed, "included in BK" and "zero balance"

Message 5 of 11
Anonymous
Not applicable

Re: Just got my notice of discharge and am needing some advice on where to go next

They should be worth it.  Most of them are over 7 years old with decent limits.

Message 6 of 11
Anonymous
Not applicable

Re: Just got my notice of discharge and am needing some advice on where to go next

Perfect, so I'm on track then.  I'll send an update when it's time to hit the next phase.  I appreciate the advice. 

Message 7 of 11
Anonymous
Not applicable

Re: Just got my notice of discharge and am needing some advice on where to go next

Looking forward to the next step in rebuilding.  Is there any way to get a sponsorship from someone here for Navy FCU?  If not, what other CU or otherwise would you recommend that has a decent chance of approval or secured card/loan that will flip to unsecured?  A lot of the recommendations I saw in the stickies were a little old and it looked like some had changed their lending practices since the post.

 

Thanks in advance

Message 8 of 11
twono
Frequent Contributor

Re: Just got my notice of discharge and am needing some advice on where to go next


@Anonymous wrote:

Looking forward to the next step in rebuilding.  Is there any way to get a sponsorship from someone here for Navy FCU?  If not, what other CU or otherwise would you recommend that has a decent chance of approval or secured card/loan that will flip to unsecured?  A lot of the recommendations I saw in the stickies were a little old and it looked like some had changed their lending practices since the post.

 

Thanks in advance


Try a local CU....I joined a local CU and opened accts with them and a  biggish regional bank prior to filing ch 7 last June.  Both banks offered secured cards, but 4 months post DC, i applied for a CC with the CU and was approved for $2500.

 

I plan on establishing a serious relationship with the CU since they are #1 on my short list of a mortgage in 17 months.

Message 9 of 11
twono
Frequent Contributor

Re: Just got my notice of discharge and am needing some advice on where to go next


@Anonymous wrote:

Looking forward to the next step in rebuilding.  Is there any way to get a sponsorship from someone here for Navy FCU?  If not, what other CU or otherwise would you recommend that has a decent chance of approval or secured card/loan that will flip to unsecured?  A lot of the recommendations I saw in the stickies were a little old and it looked like some had changed their lending practices since the post.

 

Thanks in advance


Try a local CU....I joined a local CU and opened accts with them and a  biggish regional bank prior to filing ch 7 last June.  Both banks offered secured cards, but 4 months post DC, i applied for a CC with the CU and was approved for $2500.

 

I plan on establishing a serious relationship with the CU since they are on my short list of a mortgage in 17 months.

Message 10 of 11
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