Hi Everyone—I’m a long time lurker of these forums and want to thank everyone on here who takes time to post and respond to help others out with their journey. I seriously am obsessed reading these forums and have learned so much so far.
This is my first post so I apologize if it’s long. I have so many questions. Little back ground about myself—about seven years ago I got myself into credit card debt and paid all my cards off with ClearPoint Debt Consolidation. After I paid those cards off I started utilizing credit cards again. Long story short I racked up the credit card debt again. At the same time I also was going through a divorce and was trying to provide for my children and it hit rock bottom. As of March 2019 I filed for Chapter 7 Bankruptcy and have been discharged as of June 2019.
I am needing advice on how to rebuild my credit when I have burned so many. I was recently was approved for Capitol One and also Maurice’s.
These are my scores from FICO. SEPT 2019 - EX: 604 EQ: 607 TU: 591 (EX HASN’T UPDATED YET 08/29)
What credit card companies will let you back in after Chapter 7?
How long should I wait before I apply?
Do the reconsideration lines work if denied credit and also after filing bankruptcy can I ask for a reconsideration?
I have never owned a home and my goal is to eventually be able to get approved for a home loan. Any insight on buying a house after chapter 7?
Will the credit cards that I paid off through the debt consolidation company not let me back in either even if they were not included in my bankruptcy?
I have been trying to do the shopping cart trick but it’s not working. Is it because my scores are too low at the moment? Or basically because I burned Comenity?
Is there anything I can do or any advice to get rid of late payments or high balance's that are listed on my credit report that would have been IIB?
CC that were paid off with the debt consolidation company. These were paid off as of 2015:
Capital One (Two accounts)
Comenity Bank: Maurice’s, Pottery Barn, Victoria Secrets
Synchrony: Walmart, JC Penney, Old Navy, American Eagle
CC that I burned when I filed for bankruptcy:
Comenity Bank—Buckle, Express, Gander Mountain, Limited, Victoria Secret, HSN, Ulta
Credit One Bank
Capital One and Capital One Quicksilver
Several Payday Loans:
Welcome to the forums. The ones that will let you back in its too soon just yet. You dont mention Discover. Give their secured card pre-approval website a hit and see what pops. Could go either way. Then there's Merrick Bank that will double your CL with responsible use. The one that will approve without a HP is Open Sky to get things started. If any of these is a go. Then spread out apps at least 3 months. Around 9-12 months out. You can start hitting up the Cap1 pre-qual site. Its going to take a little time to kick start the rebuild. As time goes by things will get easier. Good Luck!
+1 to what FireMedic said.
Be very selective when apping for new cards- do your homework & do NOT cold app! If possible, always check out the pre-qual sites to see if you can qualify. Discover is probably the best card to get, but I would wait a few months before apping. Do a lot of reading on this board, and plan your rebuild smartly... and you'll be up there real soon.