Okay....I went into my CU today to talk to an account rep. I explained how I had filed BK 7 in 8/08 and that I had basically become addicted to these forums. I explained the current cc's that I had and how they would not grow with me but were my starter cards. He and discussed a few things and we decided that since I did not have an installment loan "reporting" that I may be better off to go with that rather than another card. I decided to take the hit for the inquiry and take out a "secured" loan for 12 mos...the good thing about it is that I will actually earn interest on that money for the 12 months as well. I figured that I would do this maybe twice then go for something maybe along the lines of a "walmart" card or so. He said that with my current scores I could probably do the next 12 mos loan unsecured in about 1-1/2 years. That made me feel much better. He said that even with my BK that my scores were good. It is basically the only thing hurting me. So...now it is all about time. It really helped that he seemed to be understanding. My equifax score from myFico was the same that my lender pulled today.
Finally getting there
K
I honestly (and if you are in the market) don't think you would have trouble getting a house if you wanted... My friends mom filed chapter 7 2 years ago and just closed on a new house last week...
Great job on your journey!
Starting Score: 06/2010- EQ 464Thanks.....
@jk26978 wrote:Okay....I went into my CU today to talk to an account rep. I explained how I had filed BK 7 in 8/08 and that I had basically become addicted to these forums. I explained the current cc's that I had and how they would not grow with me but were my starter cards. He and discussed a few things and we decided that since I did not have an installment loan "reporting" that I may be better off to go with that rather than another card. I decided to take the hit for the inquiry and take out a "secured" loan for 12 mos...the good thing about it is that I will actually earn interest on that money for the 12 months as well. I figured that I would do this maybe twice then go for something maybe along the lines of a "walmart" card or so. He said that with my current scores I could probably do the next 12 mos loan unsecured in about 1-1/2 years. That made me feel much better. He said that even with my BK that my scores were good. It is basically the only thing hurting me. So...now it is all about time. It really helped that he seemed to be understanding. My equifax score from myFico was the same that my lender pulled today.
Finally getting there
K
I think one successful PIF loan with them will get you a CC from them!
Thanks..LS - thats a goal....I have found that if I set actual goals...it seems to work a whole lot better