@teflon_Cat wrote:
I filed in 2018, initially I filed 13, however that became very hard to keep up with and maintain two homes, at the time which pushed me to convert to chpt 7, which I finally did in 2022.
Most of the IIB, will fall off in 6/24.
I had AX since 2007, would like to get back in with them I think I can app next year, I am waiting to see the 25K, AU report before I try them and see if I get some love or I am still on the bad list.
Ch 13 is 7 years from filing.... or 2025 according to your 2018 filing date. I would assume that since you converted to a Ch 7 that the PR would be stuck on the reports for the normal 10 years that comes with Ch 7 filing. The individual IIB accounts would be 7 years from DoFD.
Without paying AmEx back they won't let you back in for a very long time... if at all.
@teflon_Cat wrote:Hello Members,
Trust that all is well with everyone here, I wanted to seek some assistance and if any input on my rebuild. I will make the post short, and clear for all members so please bear with me. Here goes: AAOF 9yrs, credit file is 16 years old.
Had total a few cards, score was 784, 750, 774, before BK, cards, home loan, and car loan, went thru a horrible divorce so things took a dive and well to say things got pretty bad.
Had the following:
AX- 15k burned in Chpt 7, Chase CSP,7K, SW,3K, Citi 2 cards total burned 14K, Lowes 19K, Navy 5K, PenFed- PLOC 15K, MECU 15K, FHA loan for $250K. Car loan 10K. All lenders were burnt in the chpt 7 filing.
All in Chpt 7. I filed in 2018, initially I filed 13, however that became very hard to keep up with and maintain two homes, at the time which pushed me to convert to chpt 7, which I finally did in 2022. I just could not keep it up an it was taking a toll on me my mental. So I decided to proceed with chpt 7. I finally received my Discharge papers in sept 2022. Since then I have began the rebuild phase, I have frozen sage, lex, and innvois, at an attempt to clean up files a bit. Freezing reports doesnt clean up reports. Most of the IIB, will fall off in 6/24. I currently have the following cards, with AU pending which should report on my files in April, since I was only added back in March.
Ollo $4500
Cap One $3000
Walmart Cap One $3000
A friend recently added me on his Navy Card as a AU, with a 25K Line & Chase $4500 line, I think he added me on a discover line of 14K, as well in an effort to help me rebuild to some decent cards. Current Equifax score is 608, Experian is 629, and TU is 0. I am still trying to get that one fixed. I have held a steady job, making over $160K, and this year my bonus should be in the ball park of 25K, before taxes.
I had AX since 2007, would like to get back in with them I think I can app next year, I am waiting to see the 25K, AU report before I try them and see if I get some love or I am still on the bad list. I can pay Navy the 3K. I am only interested in the following a new home later this year, and some decent limit cards from Credit Unions. So, just wanted to see how the Gurus on here would apply themselves if they were in my shoes. Thanks, for any help and or sugguestions. Peace & Love!!!!
You'll have to pay back AMEX and hope for a Optima program invitation. All these AU accounts wont really help much. Most lenders ignore them when applying. You have enough cards to rebuild on your own. They wont cover up the BK filed. Since you converted to a 7. Its still fresh. You'll have to rebuild like the rest of us. One step at a time. What are the balances on your friends NFCU/Chase cards? Yes pay NFCU back to get back in. It will take time.
As said previously the AU cards won't really help you at this point as the bk is dragging you down. The cards you have now are helping but only time and patience will have the desired outcome. Amex has a very, very long memory even if you pay them it might be a very long time before they let you back in.
@teflon_Cat wrote:Hello Members,
Cap One $3000
Walmart Cap One $3000
A friend recently added me on his Navy Card as a AU, with a 25K Line & Chase $4500 line, I think he added me on a discover line of 14K, as well in an effort to help me rebuild to some decent cards. Current Equifax score is 608, Experian is 629, and TU is 0. I am still trying to get that one fixed. I have held a steady job, making over $160K, and this year my bonus should be in the ball park of 25K, before taxes.
I removed what doesnt count any longer since the BK was changed to a 7. So for now you have 2 cards. A third card on your own will help. Do you have any type of installment loan? As stated earlier. Pay back NFCU/AMEX. You'll get the secured nRewards Card with NFCU and hopefully an invitation to AMEX Optima program. You wont see those 770's for yrs. Two yrs out is just like the rest of us who had to file. One step at a time.
@teflon_Cat wrote:@FireMedic1 I appericate the response!!!
I have two Cards from Cap One- 3K for plat, and walmart 3k, ollo 4,500. I dont have any installment loans at the moment. I was thinking about getting a car to put on Turo to make some passive income. I know it will take some time for me to ever see 750 scores again just want to see how I can clean up the files a bit, and watch the scores gradually climb the 700 mark. How do I even get those account removed, due to the dischared bk? I was told to join first tech cu, and once scores hit 650 app for a cc, they giving out 15k-20k lines, I only want 2 decent lines for travel. I am comfortable atm until I get this rental property in florida and live in my 1500 apt. I will not make any of the mistakes I made before, and not put myself in that position ever again. I am happy with the current bonus structure at my job which will allow me to build a heavy nest egg and if I choose to get the car I can pay off in 2 years with the bonus.
So you do have 3 cards. Cap, Walmart and Ollo.
First you can try to upgrade your Plat to a QS with 1.5% CB here:
https://www.capitalone.com/?external_id=%2Fproductupgrade
In the meantime if you have savings with NFCU. You can apply for the Secured Savings Loan. Take the loan out for $3001, Once its done. Pay it down to $250 and pay $1 a month. Theres your installment. Should gain some decent points for the credit mix. Theres no cleaning up files. Once they hit the 7yrs after the DoFD. That will gain points. You wont see 15-20k lines for a while. Point is you can make half million a year and own a million in property. But the credit world is on its own thing. Yes maybe 7-8yrs after DC. For now your a rebuilder. More credit doesnt mean higher scores. That mess below took 7 yrs. Really didnt into a higher gear till 5 yrs out.