Life after Ch 7

[melitza1603]

So 5 months into the pandemic I filed for Ch 7 and discharged 08/2020. I burned Cap One (3 accts), NFCU (3 accounts), gave back a vehicle purchased 12/2019 with NMAC, PayPal,  CreditOne. After BK CapOne and NMAC still show on Ctedot Report. Everything else was wiped off. 

June 2021 I miraculously obtained a car loan (yes, high APR). Last week I obtained a VS Store Card for $250 and today $500 Visa with Merrick Bank. My scores are EQ 623 TU 622 EX 639.  I tried Cap One but denied, thinking I'll never be in good graces with them again. I'll probably Garden for a year before I try anything else. 

Never thought it would be this hard to rebuild. 

[anniea4001]

@melitza1603  Sorry to hear you are having a hard time rebuilding. I strongly suggest you look into the rebuilding threads posted on this forum. There are some great threads about how to make the best of your rebuilding process. 

Also, CapOne is the most forgiving lender around. You just need to wait a year from the time your account was charged off/defaulted on. 

Also, use the prequal links posted. I believe the tittle is "soft pull preapprovals" or something like that. This has been very helpful to me during my rebuilding. 

As far as the high APR for the car loan, that is to be expected. Work on your credit and you can refi later. 

[melitza1603]

Thank you! I'll take a look at those. I applied for the Cap One because I completed their pre-qualifier and it showed me three cards. I applied for the QuickSilver but it quickly said "not today". 😂

[FireMedic1]

You can go secured with Disco. You didnt burn them and they graduate. BoA has 2 new secured cards also.

[MileHigh96]

Try PenFed, they are very BK friendly.  They gave me a card with a $6K CL just 4 months after discharge.  And there are lots of other options out there as well.  Don't get discouraged by a few denials.  Things will slowly eventually get better.

[melitza1603]

Thank you!