The finish line is in sight!

[Guyatthebeach]

The finish line is insight. My ten year anniversary of filing chapter 7 is the end of the month.  I'm just waiting for it drop off my Equifax report.  I'm not sure where I will be score wise, but I'm definitely curious.

My goals for 2022:

1. Get my Fico scores to 850 by year end.

2. Start trimming two cards a year that don't get used.  I still have some with toy credit lines that I got when I started my credit rebuild.

3. Try to get back into Chase when I'm below the 5/24 rule, or get a pre approval for the Chase Amazon Visa.

For those in the early stages of your rebuilding, you can do this. 

Guyatthebeach

[FireMedic1]

Excellent. Please let us know the score changes once it happens. Congrats!

[Kasuito39]

Fantastic work on your rebuild journey. Keep up the good work! 

[Guyatthebeach]

I just checked Equifax and my bankruptcy is still listed on my CR. I will check it again in December. When it falls off the report, I will order all my Fico scores at time to see where I am. 

Also I just got automatic CLI's with cards with SDFCU, FNBO, and on my EBay card, so my total unsecured credit line is now over $400,000. 

Guyatthebeach

[Kasuito39]

@Guyatthebeach you acquired $400,000 CL in 10 years with BK 7 on record? That is fantastic work. Congratulations!!

I wonder has anyone else with BK 7 crossed this high milestone $400k? 

[Guyatthebeach]

Kasuito39,

Yes, I did. I'm total unsecured credit lines are at $400k and my business CL's are $540k, 2 different lines of credit and a $40k Amex Amazon Prime card.  I modeled my rebuild after Soul Master's rebuild plan. The only differences were I started with 2 secured credit cards each at a extremely conservative conservative bank and credit union, I didn't get back with Discover until late in my rebuild, and I didn't join Navy Federal until year 6.  Also I have a lot of store cards because to take advantage of the rewards and finance offers. After  I was able to get back in with Amex, I built a solid payment history and then got the Amazon Prime card.  They sent me the application for business lines of credit, but I went with a bank because I got better terms.

During my rebuild, I paid attention to the posts on cards that were the flavor of month.  I applied for most of them and got approved for the majority of them. I also don't rock the boat with Syncrony either, since I have 6 cards and a PayPal line of credit with them. So far I've only cancelled 5 cards after my bankruptcy, the 2 secured cards six months after getting them, 2 cards with CapitalOne due CL's being consolidated into a single card, and a Victoria Secret card due the wife not shopping there anymore. 

When I declared bankruptcy, I was very lucky to get a great lawyer. He had me close all my business lines of credit since they all had zero balances, while I has waiting 90 days to file.  I also paid very close attention to the financial advisor at my local CU.

Guyatthebeach

[Duke_Nukem]

Any updates, @Guyatthebeach with the EQ dropping of your BK7?  Hoping you have some good news to share!

I got my and my DW's 3-bureau report this morning and EQ dropped our BK7's a month early without any request from us (which I've heard making a request from EQ can lead to problems at times)!  EQ was the last one showing the BK7's from Jan 2012 for us, and it is sooooo uplifting to finally have that dirty smudge erased from our reports!

I only got a few extra points added to my EQ8 score due to my very active card acquisitions the past 11 months. 

My DW on the other hand was been in the garden for 15 months and got a 70 point boost to her EQ8.  She now has EX8 802, EQ8 797, TU8 834... all with no open loan (our car was paid off a few months ago and her scores dropped 25 points because of no active loan).  WOOOHOOO!!

[Guyatthebeach]

Duke_Nukem,

It's still there!  I will check it again at the end of December.  I'm not expecting a huge point increase to due getting some new cards this year. I'm hoping to see a Fico score in the 770 to 780 range. Honestly I just want to see the bankruptcy gone from the CR. 

Guyatthebeach

[Caribsa89]

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@Guyatthebeach wrote:

Duke_Nukem,

It's still there!  I will check it again at the end of December.  I'm not expecting a huge point increase to due getting some new cards this year. I'm hoping to see a Fico score in the 770 to 780 range. Honestly I just want to see the bankruptcy gone from the CR. 

Guyatthebeach

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What was your actually filing date on your report?  The end is also near for me.  The BK7 fell off TransUnion a year ago by dispute and just fell off on it's own a couple of days ago on Experian.  My filing date on my report states 03/30/2012 so I was pleasantly surprised it fell off over 3 months early.  I had plan to ask for EE on 12/30.  On to Equifax, it is still showing.  The only one now reporting the BK7.  I want to know when yours drop off and what was your filing date to gain an idea when it will fall off for me.

[Guyatthebeach]

Caribsa89,

I filed 11/30/2021 for chapter 7.  When I looked at Equifax and my bankruptcy fell off finally. The Vantage 3.0 score is 774. 

I am so glad that is now in the past.

Guyatthebeach