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@Startnover2 wrote:My slow payment occured with my car payment when I lost my job. Yes it happend 1 year after my BK. I have 1 year of great payment then lost my job. 60 days late on my car note. It is caught up now
Start GW'ing your little heart out is all I can say. Try anything and brown nose to try and get those lates removed.
^^^Agree.
Sometimes we have setbacks after starting to rebuild. The setback can be over come, but it will take time. The best thing to do is to continue to pay on time now. Keep sending those Goodwill letters in to have the lates removed. Worst case senerio, the lates are never removed. However, the older they become the less weight they have on your score. Eventually they will come off your report anyway. The GW letters just speed that process up...
please provide an example of what a good will letter is
@Startnover2 wrote:please provide an example of what a good will letter is
You can search for samples on here or Google. I would just say to make them short, simple and sweet. Also, in your own words will always do better.
Thank you so much for all your help. This forum has been a live saver
I agree with Scupra...congratulations on your discharge. In my opinion, your best "next move" is no move at all. Sending out applications for credit to credit card companies is just going to "ding" your score weather you have a high score, or a low score.
However:
I am guessing that, with a score of 650, you will get a card, but it will be a higher interest card. When you do get a card the key is to stay below the max by 75% at all times, and pay the card off each month. For instance: If you get a card with a $1000 limit, dont use more than $250 per month. In fact, the best thing to do for the first six months is to use the card for a tank of gas ($70?) and pay it off each month.
From my experience, 30% of your score is calculated by your behavior with "Revolving Credit". That is, credit that you carry in your pocket but do not use. Banks and Lending Institutions want to know that, even though you have that credit in your pocket, you have the dicipline to avoid using it. This goes a long way with them. So if you follow the instruction above, you should see your score jump each quarter.
Finally, I am assuming that after filing for Chapter 11, you had to pay cash over these past seven years. So you are probably really good at that! Why not just keep paying cash and therefore buying things you can afford, than slipping back into credit card debt. Save your lending power for the important things; Car/ House/ School. And try to pay for the small stuff as you need it.
Good Luck.............Triracer
@Startnover2 wrote:Thank you so much for all your help. This forum has been a live saver
No problem! You are in the right place. Keep us posted and good luck at getting those lates removed