cancel
Showing results for 
Search instead for 
Did you mean: 

My BK7 Journey

TygerHawke
Established Contributor

Re: My BK7 Journey


@azguy13 wrote:

 

My report is still spotless with no derogs but I am at the point now where I will start accumulating the derogs in the next couple of months so I am trying to figure out how to go about this. 

 


I can weigh in on this from personal experience - your rebuild may be quicker if you can arrange it so that your first and only derog is the BK itself.

 

Enjoy the $0.02 and good luck!

Message 31 of 53
azguy13
Senior Contributor

Re: My BK7 Journey


@TygerHawke wrote:

@azguy13 wrote:

 

My report is still spotless with no derogs but I am at the point now where I will start accumulating the derogs in the next couple of months so I am trying to figure out how to go about this. 

 


I can weigh in on this from personal experience - your rebuild may be quicker if you can arrange it so that your first and only derog is the BK itself.

 

Enjoy the $0.02 and good luck!


Thank you for the advice. I am really trying to do that and I think it is doable. I have nothing in collections and if I can avoid that I feel like, as you said, it should be a little easier. 

Message 32 of 53
missy42
Regular Contributor

Re: My BK7 Journey

It's been awhile since I responded but I'm reading and staying informed on your journey.  Congrats on getting the mayo clinic to continue to see your wife, happy to hear that load has been lifted!!!  I'm stll waiting to file, my attorney says both my retirement and disability count toward the means test but neither can be touched by the trustee.  It all seems so confusing at times but I guess each state have their own means test and rules.  I'll be happy once my journey starts probably sometime after I file my taxes.  I'll keep in touch and post my progress as well.  Best wishes in the new year!

Filed Ch 13- 8/29/17
Message 33 of 53
azguy13
Senior Contributor

Re: My BK7 Journey

Hey folks, Ive been away for about a month but thought I would send a quick update. 

 

I sent the last of the documents to my BK attorney today. I tried waiting as long as I felt comfortable because I am still in the middle of my Volkswagon Diesel Passat buyback. The only thing that remains is having the appointment scheduled to turn the vehicle in. I have also been waiting to hear back from the Mayo Clinic about possible debt relief but they stated it may take another 30-60 days. In the meantime, I have a great possibility of obtaining a new position that would require relocation. So, I need to get my BK in order. 

 

One silver lining is that DW will not be filing and I pulled her 3B today. I am hoping to keep it this way!

 

Screen Shot 2017-01-17 at 5.32.06 PM.png

 

 

Message 34 of 53
WadeDalton
Established Contributor

Re: My BK7 Journey

Hey azguy, Happy New Year to you and the Mrs.!

 

So glad to see your update and it sounds like you have gotten a lot of things taken care of this last month. Great scores for your DW, that will be great to have in your back pocket for sure. Exciting news about the new position. I know that when I started my new job after I filed, it was a huge kickstart to my rebuild. With the relo, will DW still be able to continue treatment at the Mayo or is there a great alternative in the new location?

 

All the best to you and stay in touch!

 

Smiley Happy

 

 

 

Chapter 7: Discharged November 2015
Total Revolving Credit Lines January 2016: $2600
Total Revolving Credit Lines January 2017: $148K
11/15 Fico 8: EQ-585, TU-550, EX- 551
01/17 Fico 8: EQ-695, TU-703, EX-673
Advantis CU Siggy Visa $25K, NFCU Cash Rewards Visa $4600> $22K, NFCU CLOC $15K, NFCU Go Rewards Visa $5,500, PenFed Promise Visa $10,500, PenFed Platinum Rewards Siggy Visa $5500, Redi+ Siggy Visa $5K, SPGVisa $4,500, Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Good Sam Visa $1800, Discover $1800>$2K>$2300, Lowes $6K>$17K, Overstock $7K>$7300>$7700, Evine $1K>$5K, HSN $3750, PenFed Thrifty $500, That's right...Credit One Visa is G-O-N-E!

Message 35 of 53
azguy13
Senior Contributor

Re: My BK7 Journey

It has been a journey but I am officially discharged. Sweet Jesus was that a process. Luckily, I had a fantastic attorney. 

 

Hope all is well with everyone! On to Rebuilding. 

Message 36 of 53
WadeDalton
Established Contributor

Re: My BK7 Journey

WHOOOO WHOOOO!!!!!!!

 

A HUGE congrats azguy!! I'm so glad to hear that it's now in the rear view mirror! 

 

Hope you and the Mrs. are doing well and now the rebuilding fun begins!

 

Smiley Very HappySmiley Very HappySmiley Very Happy

 

Haver a great holiday weekend!!

Message 37 of 53
Scupra
Super Contributor

Re: My BK7 Journey


@azguy13 wrote:

It has been a journey but I am officially discharged. Sweet Jesus was that a process. Luckily, I had a fantastic attorney. 

 

Hope all is well with everyone! On to Rebuilding. 


Congrats! Is an amazing feeling Smiley Happy

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
759 EQ FICO 03/2021
754 TU FICO 03/2021
743 EX FICO 03/2021
$29k NFCU Platinum | $30k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold
Message 38 of 53
azguy13
Senior Contributor

Re: My BK7 Journey

Thank You Wade and Scupra! The discharge came at the perfect time as well considering I need a new vehicle for my daily commute. Now that all of the medical bills are gone, I can afford to be frugal in my purchase as I have worked out an amazing budget for myself. With that being said, last night I decided to check Cap1 prequal for an auto loan. I put in my info and amazingly I was pre-qualified.

 

Now, this is not the blank check program but instead the program where I can shop online and see what the APR is based on the vehicle and loan terms I select. Oddly enough, a week or so after discharge, I am finding nice used vehicles for 5.8%. Granted it is not the amazing 1.74% I had with DCU but for a week after discharge you better believe I am happy as can be. 

 

While having to file BK7 is/was a dissapointment, I can find an underlying joy in being able to rebuild and see those scores increase again. When I filed I was well into the 700s. I am hoping within a few years I can do it again. I know we have that discharge - 700 thread going but I may have fun with this in my own way. 

Message 39 of 53
pizza1
Community Leader
Super Contributor

Re: My BK7 Journey

Az....Im so glad things are working out for you with your wife,j ob, and now the BK behind you. Time to move forward, and you already know what to do from here, so no coaching needed. Smiley Happy

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 40 of 53
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.