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Rebuilding Advice

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Rebuilding Advice

So, I am not discharged yet. I had my 341 last month. I've read the bankruptcy friendly cards thread and I still have questions about my rebuild because I have screwed just about everyone in my BK7.


Capital One - $5,250 on regular cards split over 4 (including one that started as their secured and was later upgraded to the regular platinum)

Menards/Capital One - $1,000

Wells Fargo - around $500 left (I have a $1,100 limit and it was charged all the way on furniture for my house and I paid up to the $500 off before I filed)

Barclay - $1,100

Target store - $1,300

Discover It - $2,000 (this card was over maxed with fees and they closed it and then sent me a check for my $26 in confused? lol)

Chase - $2,500 (Kicking myself for this because it looks like I can never get back in now)

Walmart store - $500

Amazon store - $850 (this started as a $1,200 CL but they lowered it as I was charging it up quickly)

Ulta (Comenity) - $500

Torrid (Comenity) - $250

Huntington Bank Voice - $1,000 (I currently still have a joint checking account with my mother here and they SAY it is safe to have my money in it and it may be a grey area with my mother's social security in there that they can't legally touch. I loved that bank and I would very much like to move my direct deposits back there. They say they can't take the money without a court order. Does anyone know if that's true? Does anyone know if it would be safe to move the money back if the account is still open after discharge?)


All of these were maxed with the exclusion of Torrid which I paid down to about $200 in the month before I decided to file. A Crate and Barrel card with a $2k credit limit I never used, a Lane Bryant card with a $250 that was paid off, and a Catherines card that had a $250 limit that I also had paid off. They were closed. All store cards through Comenity. The Amazon card is through Synchrony. The Target card is through TD Bank. Walmart is also through Synchrony.


My main question was, what cards should I try for once discharged to start my rebuild? I plan to open a secured card with NFCU as I will qualify for membership because my father was a vet as were both my grandfathers. I am unsure of where else can I go to get secured cards that graduate since I burned Capital One and Discover. Any chance of the Bank of America one? Is it common for credit union/bank cards to graduate so I should try some local credit unions and banks? Are there any store cards that aren't Comenity or Synchrony that I could try for or do they possibly have a shorter time before they let you back in?


Just looking for suggestions and if anyone knows on the Huntington questsion. I may or may not reaffirm my mortgage. My lawyer says I should but is leaving it up to me and I am aware of all the pros and cons. I also will need to get a car loan before long because mine is going bad, I do not have a savings yet, and I have to have a car that will run well to travel for work a few times a week and one that my disabled mother can ride in which is usually an SUV or van so going for the cheapest beater I can find isn't really an option for me. I am still looking for a used one for as cheap as I can go that will fit my needs, but taking a long will likely be unavoidable. Will this lessen the number of cards I need to get for rebuild as the optimal number appears to be 3?


I learned that I have to live on the money I earn and not supplement with credit cards. I plan to use any cards I can get that I can use to pay bills to pay them and then pay them off right away so I am not paying any "extra" on credit cards while rebuilding.


Thanks for taking the time to read my "book". lol. And thank you for any input you can give!

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Re: Rebuilding Advice

BK is a hard lesson....been there done that. 

As for Huntington, I honestly don’t know. But I would err on the side of caution. 


As for the rebuild, try to find 1 secured card and let it report for 6 months. This will give some of the burned creditors time to forgive you. Also....I would still try Capital One pre-qual for unsecured first. 


I know you stated “learned to live on the money you earned and not supplement with credit” which is an excellent idea. With that being said, I’d try to stay away from store cards for a bit. You had quite a few in the past with some maxed out with low limits. Store cards usually cater to wants, not life needs. My profile was similar when I filed, not maxed, but a lot of low limit store cards. During my rebuild, I avoided that by getting majors first. My new store cards are all less than a year old except Lowes and the limits are much higher. 


Good luck op! 

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