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Hey all. I'm working hard to rebuild. I did have decent credit (close to 700) and had quite a few cards I was using then paying off. Sadly our lives took a turn in 2018 when my kids dad became depressed and turned to substance abuse and caused us to lose everything including our home. I was then a single mother, single income trying to rebuild my kids life. I got back on track then my daughter became critically ill in Oct 2019. I lost my job due to her medical needs and couldn't even afford her medical needs, let alone credit payments. This is when my credit took a major tank. Then in Jan 2021 the homeowner decided to sell the home we were renting and we face homelessness as a result. My credit scores are unfortunately currently down in the 400s. I am slowly trying to rebuild with what I can. My question is...

If I settle with collection accounts that were with previous creditors (such as Syncrony and Comenity) what is the likelihood that the original creditor may approve me in the future (once I rebuild and improve my scores of course)? I do still have 2 cards with Comenity still open. They have been late on quite a few occasions but I was always able to handle them in time before they were closed.

I did not file bankruptcy. I am working to rebuild without it. 

Message 1 of 3
Community Leader
Mega Contributor

Re: Rebuiding

I wouldnt put much into getting back in when your already in on other cards with those banks. Theres plenty of companies out there once you recover to build on. As we say here dont put all your eggs in one basket. Work on fixing whats broken first. Then scores rise and better odds at approvals in the future. Sorry for the hard balls thrown at ya. In time it will all work out in the end. Keep at it. Thats why were here. We were in the bottom also.

Homeowner Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my recovery after BK from learning here. Started 540's. EX FICO 9 801 as of 05/03/2023. I stayed around to pay it forward for those who helped me back then.
Message 2 of 3
Moderator Emeritus

Re: Rebuiding

Synch & Comenity do not blacklist you like some others may do. Once you have settled with them and you are in a better financial position you wont have a problem getting back in with them. Good luck in your life Smiley Happy

Message 3 of 3
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