September Credit AMA [Ask Me Anything] with MOD @SunriseEarth - Get to know him.

[Anonymous]

Hello Peeps,

We don't often get the chance to interact with our MODs on this site.  In this Credit AMA, @SunriseEarth will be taking questions about his credit decisions, why he joined the board, what he has learn so far that can be an inspiration to others, mistakes to avoid among other things. Please feel free to ask any question and at the same time, remember to be polite.

So let's get going and will get us started.  @SE, can you tell us a bit about yourself?

[SunriseEarth]

Hello everyone!

To tell you a bit about myself, I am in my mid-30s and live in Southern California.   I went through a Ch 7 BK in 2004, due to tons of mistakes with CCs.   I didn't really learn after that and had two COs post BK.   I finally started a rebuild in 2013, which is how I came to this site.   I found this site in my quest to learn more about credit, as I had just had success with a JCP CLI at that time...and I wanted to have that experience again!

[pizza1]

Didn't realize this was happening tonight!

Nice of you SRE to volunteer for it this month!

[SunriseEarth]

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@pizza1 wrote:
Didn't realize this was happening tonight!

Nice of you SRE to volunteer for it this month!

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Thanks!   There could possibly be a part two, for those who weren't able to join tonight. 

[pizza1]

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@SunriseEarth wrote:

Hello everyone!

To tell you a bit about myself, I am in my mid-30s and live in Southern California.   I went through a Ch 7 BK in 2004, due to tons of mistakes with CCs.   I didn't really learn after that and had two COs post BK.   I finally started a rebuild in 2013, which is how I came to this site.   I found this site in my quest to learn more about credit, as I had just had success with a JCP CLI at that time...and I wanted to have that experience again!

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SRE....

One thing Ive always really like about you, is that you are an advocate for the store cards, because they are great rebuilders!  With that said..Was the JCP cc your first CC to start rebuilding with?

[Anonymous]

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@SunriseEarth wrote:

Hello everyone!

To tell you a bit about myself, I am in my mid-30s and live in Southern California.   I went through a Ch 7 BK in 2004, due to tons of mistakes with CCs.   I didn't really learn after that and had two COs post BK.   I finally started a rebuild in 2013, which is how I came to this site.   I found this site in my quest to learn more about credit, as I had just had success with a JCP CLI at that time...and I wanted to have that experience again!

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What were some of the mistakes that were made that led to the BK?  I hope it is not too sensitive of a topic to discuss...

[ddemari]

hi there sunrinse! whenenver i think of you I think of JCP card so i laughed a little with you mentioning that haha. your background sounds very similiar to mine! i did a bk in 2004 and didnt start to seriously rebuild until 2012-2013. 

Im curious, because I did this myself after your bankruptcy did you make any small mistakes? for example, I let a couple of capitalone plat. Mc's charge off in 2007 and 2008 and again with a Von Maur store card in 2010. I guess circa 2004, no one told me that you could have credit again and show positive payments right away and you arent cursed for 10 years. 

Curious what you did after your bk? 

[SunriseEarth]

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@pizza1 wrote:

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@SunriseEarth wrote:

Hello everyone!

To tell you a bit about myself, I am in my mid-30s and live in Southern California.   I went through a Ch 7 BK in 2004, due to tons of mistakes with CCs.   I didn't really learn after that and had two COs post BK.   I finally started a rebuild in 2013, which is how I came to this site.   I found this site in my quest to learn more about credit, as I had just had success with a JCP CLI at that time...and I wanted to have that experience again!

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SRE....

One thing Ive always really like about you, is that you are an advocate for the store cards, because they are great rebuilders!  With that said..Was the JCP cc your first CC to start rebuilding with?

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I actually had three rebuilder cards prior to JCP.   I had two Cap One rebuilders, but I ran up the bills on those and they closed (they have since fallen off my CRs; one was unsettled, one settled in full).   I then got Credit One, but I didn't like their lack of grace period and their pay-for-CLI.  However, my credit was bad and they seemed to be the only ones that wanted to extend credit.  I was able to get a Household Bank rebuilder (eventually turned into my Cap One QS WMC).   So JCP was after those, but they were my first card post BK that didn't have an AF.   And they were one of my first to give a CLI (without my paying for it).  

[joltdude]

Iv watched a bit of your rebuild Sunrise, youve come a long way from those earlier times.. But my question to anyone going through a rebuild.. what would you have done differently or recommend to others that you may have done knowing what you do now?

[SunriseEarth]

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@Anonymous wrote:

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@SunriseEarth wrote:

Hello everyone!

To tell you a bit about myself, I am in my mid-30s and live in Southern California.   I went through a Ch 7 BK in 2004, due to tons of mistakes with CCs.   I didn't really learn after that and had two COs post BK.   I finally started a rebuild in 2013, which is how I came to this site.   I found this site in my quest to learn more about credit, as I had just had success with a JCP CLI at that time...and I wanted to have that experience again!

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What were some of the mistakes that were made that led to the BK?  I hope it is not too sensitive of a topic to discuss...

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Not at all.   I ran up about $30K in CC debt, mainly on media items for myself and my SO.   We generally lived beyond our means.  Eventually, the bills got too high and I tried debt management, but that also became unmanagable.   Once Discover decided to sue me to collect their balance, I knew it was time to seek BK relief.