my bk story

[jason0618]

Long story short, I filed for chapter 7 bankruptcy.  I'm sure my story is the same as most others, just with minor differences in the details.  Now I'm curious aboutthe rebuilding process...  

I am burning the following:

1-Cleveland Clinic for about $60,000 after insurance paid what they would pay.

2-Ally Bank--voluntary surrendered car.  Deficiency balance $9,900

3-local credit union--voluntary surrender wifes car.  Deficiency balance $13,400

4-Capital One--2 credit cards, totaling about $3,000

5-Barclay Bank--2 credit card totaling about $4,000

6-Navy Federal--1 credit card totaling about $5,000  I know, they're a bad one to burn.  

7-Kohls credit card--$300

8-Old Navy Card--$100

9-Walmart card--$100

My wife had a judgment from Capital One for $3,500

Several collection accounts and charged off credit cards, etc.  

In this forum, it looks like Capital One, Barclay, NFCU are all good for post bk rebuilding.  Since I'm burning all of them, it makes me wonder if I have any options.  I'd like to rebuild as quickly as possible.  I've seen that Bank of America and Discover both have good secured cards that will graduate.  Any other options that come to mind?  I'm also a member of USAA, if that counts for anything.  Not sure how bk friendly they are.  

[Anonymous]

USAA is not BK friendly at all. Good luck with that. 

I kept my account with them since I do have my auto insurance (and they do still give me great rates) with them. My insurance rates have not seem to have taken a hit at all due to the BK. 

[svtthis]

Capital one may let you back in even after burning them. I had 2 small cap one accounts that I burned and they let me have a secured card. Check theit pre qualify page after you discharge to see what comes up. If the pre qualification comes back with set apr's then you should be approved. Only other options on the unsecured side are first premier and credit one. Both are VERY expensive to have but in some cases are a necessity to have for rebuilding purposes.

[Pway]

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@jason0618 wrote:

Long story short, I filed for chapter 7 bankruptcy.  I'm sure my story is the same as most others, just with minor differences in the details.  Now I'm curious aboutthe rebuilding process...  

I am burning the following:

1-Cleveland Clinic for about $60,000 after insurance paid what they would pay.

2-Ally Bank--voluntary surrendered car.  Deficiency balance $9,900

3-local credit union--voluntary surrender wifes car.  Deficiency balance $13,400

4-Capital One--2 credit cards, totaling about $3,000

5-Barclay Bank--2 credit card totaling about $4,000

6-Navy Federal--1 credit card totaling about $5,000  I know, they're a bad one to burn.  

7-Kohls credit card--$300

8-Old Navy Card--$100

9-Walmart card--$100

My wife had a judgment from Capital One for $3,500

Several collection accounts and charged off credit cards, etc.  

In this forum, it looks like Capital One, Barclay, NFCU are all good for post bk rebuilding.  Since I'm burning all of them, it makes me wonder if I have any options.  I'd like to rebuild as quickly as possible.  I've seen that Bank of America and Discover both have good secured cards that will graduate.  Any other options that come to mind?  I'm also a member of USAA, if that counts for anything.  Not sure how bk friendly they are.  

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Captial One is the most forgiving lender, hands down.  I burned them as well in my bk.  I could not get back in with them after discharge, it took me about six months or so.  I had to go the secured route to get the ball rolling on my credit rebuild.  I then opened up a fingerhut account to help me out.  

I would obtain a secured card before I would go with First Premier or Credit One.  Just my opinion.  Some has been able to obtain a Discover secured while others has been denied.  BOA I am not sure about, they are a bit on the stricter side when coming out of bk.

I wish you and the wife the best in your rebuild.

[kugel]

Wen did u file ?
And what 2 Barclays u have ?

[jason0618]

We just filed this month.  Had Barclay Apple card and a Barclay Rewards card.