UPDATE LIFE AFTER BANKRUPTCY

Anonymous · ‎02-15-2021

Hi this is an update for everyone. I went into the Garden in the early 2020 prior to the pandemic.

My BK was d/c'd officially in February 2018. My wife and I worked really hard and our DTI was under 5%. We have worked our income over six figures. We purchased a house FHA w/DPA and officially closed end of July 2020. Since then I opened two additional (personal) cards: credit union visa's one for 2500 second for 5k. Approved for Home depot for 2k.

We continued on the strict train and I offically filed an LLC. and launched my business in Janurary 2021. On the business side I got a 2k Spark Biz card and opened a net 30 with Quill no pg. I just applied for Home Deport charge card (biz) for 60 days and it's under review now (pg required since my biz is new). My current score is 671exp. I still need to pull this year's equifax, transunion. I was contemplating on the Wells Fargo secured biz card however I'm unsure if i'll pull the trigger on that one.

All seems to being going as planned. I've stayed away from all the big card issuers to save the embaressment of being declined. In addition I received credit increases on my existing cap-one, kohls and yes credit one (lol!! it was my first builder card.) Discover declined my credit limit increase and so did our walmart cap-one. Discover I realized afterwards I had not updated my income, or employment status. I'll call this week.

Life three years after bk and I'm going back into garden for 6 more months. Thank you everyone for your help and this forum it has so much value and I hope this helps others that are rebuildling.

Thanks!

AllZero · ‎02-15-2021

Congratulations on your success! Looks like you are doing great.

thornback · ‎02-15-2021

Congratulations on your successful rebuild -- well done!

@Anonymous wrote:
Discover I realized afterwards I had not updated my income, or employment status. I'll call this week.

^^Make sure your income/employment update can be verified by your recent tax filings. Disco, seemingly at random, has been verifying income via IRS 4506t requests and if income provided doesn't match what was filed on your recent years' return, they will shut down your card -- this includes common discrepencies such as providing household income when you file separately or including a recent bonus or pay raise for which you have not yet filed taxes. Just wanted to give you a head's up... jic.

Personal Aphorism:"Forget What You Feel, Remember What You Deserve"

Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA: 4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
Report Status: Clean
Garden Status:

Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.

gdale6 · ‎02-16-2021

Looks like you are off to a very good start. You can join DCU for a free monthly EQ Fico score, the first 1K in savings returns 6% APR too, dont need a CC to get the score either.

Anonymous · ‎02-16-2021

Congrats on making the right moves and getting yourself into what looks like a great position for continued success

Anonymous · ‎02-21-2021

Thank you I"ll definetly look into this! Oh and one last thing......... I just nabbed an Apple Card approval 4k I accepted and now I'm skipping back to the garden. ;-)