POST CHAPTER 7 BK

[Anonymous]

Hello all! 

You have all proven to be EXTREMELY helpful in the past, so thought I'd update a bit. 

Filed Ch. 7: 9/2017.

Discharged: 1/2018.

All debts discharged, did not reaffirm auto title loan. 

Currently owe approx. $3,600 on title loan. Paying it with no issues. It only appears to report to Equifax

Open Accounts:

*Syncrony card: Authorized user (sister added me to her Living Spaces. I paid off $4k worth, it has a zero balance.) Added around 9/2018.

*Credit One Bank: Opened 10/2018, with a $500 limit. After 2 months, went up to $700 automatically.

Paid on time every month, paid it in full May 2019. Did a balance transfer to NFCU.

*NFCU: Opened 5/2019, with a $3k limit. Currently have a few hundred. Rarely use it, but make large payments everymonth. Paid off C1B with a balance transfer from NFCU.

Currently, hoping to get a visa through NFCU sometime in the near future to be able to get rid of C1B. Would be perfectly happy with just a Visa and MC through NFCU. Learned my lesson!

Just pulled my 3 credit scores today using the $1 trial:

8/7/17:

EXP:511      EQU:509      TRANS:512

9/18/18:

EXP: 596      EQU:539      TRANS:496

8/26/19:

EXP:623      EQU:649      TRANS:611

My car has been good to me. It's a 2009, have invested over $5k in repairs over the last 2 years. Ideally, I'd love to keep it for at least another 2 years. BUT, recent issues have me worried it might need to be sooner. I've heard great things about NFCU auto loan process. Can anyone give me their experience? What did you qualify for (rate, amount, term) and what were your scores at the time?

The absolute soonest I'd be able to feel comfortable with buying a new car would be tax time 2020. I'd have at least $5k to give then. 

I hate the thought of not paying off the title loan, even though I didn't reaffirm. I think the current issue my car has is minor, and I have a great mechanic, but still....planning for the worst. 

Would like to add, I have my sights on a 2019 crv lx. Current car is a 2009 CRV Lx and I love it. I have only owned 1 used car (my first car) and after that my cars have all been new. Not a huge fan of used, but if that's all I can get, I would have to. 

Any and all info would be much appreciated. THANKS!

[FireMedic1]

Nice job. You know how many people buy the same model thats 1 yr old rather than new and the money thats saved? Or even get the new car when the newest models are coming out and they have to sell out the old inventory. Thousands saved and you dont have to pay interest on it. Something to ponder on. Good Luck!

[Anonymous]

Thanks for the reply! 

I know...I get about 50/50 split replies from people in regards to the new/used debate when I talk to them. I see the logic and rationale for the "go used" route. The cars I've seen, the difference is literally about $3k. I might be in the minority, but I personally feel paying the difference is worth it. I would probably be holding on to the new car (if and when I do purchase it) for at least another 8-10 years so I would really love to just go new. I'm open to a couple years old, but we'll see. It all depends on the rate I would get. Honestly, crossing my figners and hoping that my current car behaves and lasts at least 2 more years before costs outwigh keeping it around.

[FireMedic1]

If you can hold out hopefully. Your scores will be higher as you rebuild which in turn leads to lower interest. Get my drift?

[Anonymous]

ABSOLUTELY. That is, the preferred route I would love to take.

---

---