Recovering from Chapter 7. Am I doing enough?

[Anonymous]

Good afternoon all,

Its been awhile since Ive posted since my discharge and first wanted to thank all those who have led me in the right direction to rebuild here is a list of my current "setup" to rebuild

AU Citibank Mastercard  10k limit  7k balance with no APR 15 months (Reporting) Card 1.5 years old payments made on time and more than min, card will be 0 balance before APR promotion is done

Cap One Secure 200 limit. Run at 50% effc and pay off in full every month (confirmed reporting)

Reaffirmed autoloan with perfect payment history (Confirmed still reporting)

Citibank premiere AU 7 year perfect payment history  25k limit 0 balance. Monthly payment ~$1000 paid in full on time every month (Confirmed reporting)

Am  I doing too much, too little, suggestions, etc?

[Anonymous]

First off, double check everything is reporting correctly post bankruptcy on all 3 credit reports. Get rid of that au Citibank mc at high utilization, more harm than good. How much can you scrap together for another secure card? Also, go visit some local credit unions after researching if they are bk friendly. Post bankruptcy, you want to build long term positive history as early as possible by getting cards that you can have open for a long time (ie no af and will grow with you). This may not be possible but the goal is to get to these cards as soon as possible. Also, when was bk finalized?

[Repo-ed]

+1 on both the dumping of the $200 secured card as well as joining local CU

[somotao]

I highly recommend you reading this thread (if you have not done so already)....a lot of really helpful advice

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

[Revelate]

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@somotao wrote:

I highly recommend you reading this thread (if you have not done so already)....a lot of really helpful advice

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

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SoulMaster would've done better if he hadn't waited on open the second or third revolving tradeline.  

To the OP, +1 for everything Crashem wrote.

- Get rid of the AU if they aren't keeping it paid down

- Get at least one more card (secured or otherwise), and two is probably better.

- Try to find a creditbuilder-style installment loan much like SoulMaster posted in that thread, a lot of CU's have them and they can help substantially.