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Hello,
Congratulations!
You are definitely on the right track. Personally, I would wait until you haave 6 months of payment history on those new credit cards, and try to refiance your car loan to a lower rate. I would not do anything else until those credit cards unsecure.
Keep us updated.
Guyatthebeach
@Guyatthebeach wrote:Congratulations!
You are definitely on the right track. Personally, I would wait until you haave 6 months of payment history on those new credit cards, and try to refiance your car loan to a lower rate. I would not do anything else until those credit cards unsecure.
Keep us updated.
Guyatthebeach
Thanks, will do!! I'm totally fine with gardening until then!!
Use those new credit lines you establish responsibly and get some sleep now that you are debt free!
@PattaurusRex wrote:Hello,
Long time lurker here! I finally filed BK7 on 4.1.20. I was discharged 11.4.20. I burned Cap1 and Credit One. I did not reaffirm my mortgage or car loan. My student loans have reappeared on my credit report which is fine with me because I was in good standing with those prior to filing.I opened a NFCU savings account the day after discharge. I was approved for Discover It Secured about two weeks after discharge, so right before Thanksgiving. I put $500 down as my deposit. Earlier this month, I opened a NFCU nRewards card and used $500 from my savings acct as the deposit. I’m looking forward to both of my cards graduating with responsible use. Yesterday, I reached out to my main CU to see if they offered secured CC products. After applying, verifying my income and student loan status I was approved for $2500 unsecured! I can’t believe it. Before BK7 I didn’t have that much credit. I’m also an AU on a Barclays with a $5000 limit.I’m hoping to buy a bigger house in a few years and pay off the rest of my current car loan. I read through the posts and it seems like I won’t be able to refinance my car loan because I didn’t reaffirm. It’s a 2017 and I still owe about $20k at 9%. It’s due to be paid off in mid ‘23 but hoping to pay it off early by throwing money at the principal when I can.I’ve met my goal of three cards fresh out of BK so I’ll be in the garden! I know you guys have great insight so any tips and tricks you can think of, please throw my way!My current scores are:F8] EQ: 633 TU:594 EX:621F9] EQ: 665 TU:653 EX:637Auto F5 F4 F2] EQ: 678 TU:638 EX:684
What a year it's been!! Dropping in to give an update. My two secured cards graduated - nRewards $500 went to $900 then to cashRewards $2k and Discover from $500 to $2k. In addition to the three cards, I pulled the trigger last week and applied for NFCU Go Rewards and was approved for $12k instantly.
I also decided to upgrade my car in October '20. It was the last financial tie to my ex husband and I knew I could lower my payment and interest.
Now that I am a little over a year post discharge, I'll be gardening my 4 cards and saving for the next house which I hope yo
qualify for by the end of the year!