How has life been after BK-7 for you?

[bullio67]

My BK-7 was discharged around January of 1999. It has been almost 6 1/2 years for me, and I can't wait for this BK-7 to drop off my credit report.

So far, I have done well rebuilding my credit, but I still can't get any of the so-called "prime" cards or credit yet. Have any of you had any luck regarding this?

I have 11K from Providian Visa Gold, 3K from Household Bank Gold, and 8K from my Credit Union Gold card, and that is all the credit I have ever need, I think. I have always paid off my credit card balance every month for the past 6 1/2 years. I have also just paid off my new car with my Credit Union after 2 years.

I tried to get a gas card, but so far has been unsuccessful with Shell, Mobil, and waiting for Chevron's decision (which I do not have lots of high hope for!). I tried for American Express "anything" for the past several years without success (American Express is very picky regarding BK). I recently tried to apply for the BoFA regular card and was also turned down. All of them cited "bankruptcy" as the reason.

Now, my last step is to try for a department store card, but I do not want to be rejected and charged with a hard inquiry. Does anyone have any recommendation of which department store is BK-friendly?

It seems that besides the sub-prime creditors and your own credit union, there is nobody out there who want to touch the BK crowd. Am I wrong in this?

PLEASE SHARE YOUR EXPERIENCE. ANY ADVICE AND SUGGESTION WILL BE GREATLY APPRECIATED!

Transunion: 745

Experian: 725

Equifax: 739

8) 8) 8)

[jq26]

There's a good sticky about this in the "Obtaining Credit Cards" section. I followed the advice starting in November 2004. My BK7 discharged in 10/2004. Its been a mixed bag since. The BK on there does catch the eye of a lot of creditors, so its best to stay away from them.

Its been almost 7 months since out of BK. My experience so far:

Approved for:

American Pacific Secured Card $300

Providian Platinum Unsecured $2000

Orchard Bank (Household) Unsecured $300

Target Card Unsecured $300

Patelco Visa Unsecured $1000

American Express Corporate $5000 (guaranteed by my company)

$500 Credit Union Secured Loan

Denied for:

Kay Jewelers

Secured Bank Loan (large national bank)

BP Gas Card

Lowe's Card

That's about it. I guess I have the attitude that it is THEIR LOSS if they don't wany my business. I don't carry any balances on any cards over $5 anyway, so even if the interest rate is 30%, its not an issue.

Let me add that thanks to b*mpage, I have managed to wipe out all but one inquiry with EQ and TU (I have 7 w/ EXP). I'm sure that helps the cause a little when I go to apply for additional credit.

26-May-2005 FAKO EQ630/ EX672/ TU641

[LadynRed]

Bullio, have you engaged in ANY credit repair in the last 6-1/2 years ??

Have you checked your reports to be sure that everything is being reported CORRECTLY ?? If not, then you need to dive in and start disputing any irregularities.

My sister filed late 1999, she has been able to get decent, unsecured cards in the last couple of years. The last nasty - from FUSA - will drop off her reports the end of this year and her score should make a pretty good jump once FUSA's pile of dung is removed.

[bullio67]

I have been using all the credit-repair techniques taught here in this board WITH GREAT SUCCESS. I thank you all for all the great information here.

I removed ALL negatives and inaccuracies from my credit reports from ALL 3 credit bureaus. My credit reports are squeaky clean, except for the BIG BAD BK-7.

The funny thing is now my top reason for not achieving a higher score (besides my BK-7, of course) is "short credit history". My credit history began back in 1987, and has been great until I filed BK-7 in 1999, so all of those older accounts dropped off from my reports, and the only accounts left are the rebuilding accounts I have established since my BK, and they are only 6 1/2 years or less. I have scores that can be considered "good" (720-740), but with a BK on my reports, I do not know if those scores are useful for practical financial purposes.

I have not been able to get any of the "prime" credit cards like American Express, or BoFA card, and the only cards I can get are from those banks that specialize in sub-prime customers like Capital One, Providian, and HouseHold. Not that these cards are bad, they have been treating me well, but I would like to be able to get at least one of the "prime" cards out there. I am currently only have 3 major credit cards from Providian, Household, and my Credit Union, all unsecured cards with generous CLs. Should I have more?

I know that I am considered the "top-tier" customer with these sub-prime providers. For example, Providian gives me 1% cash back on all purchases I make with the card... which I think is quite rare among this type of bankcard.

Also, the gas cards have been quite difficult to get. I got turned down by Shell, Mobil, and maybe Chevron as well. I am now trying to get a good mix of credit, and that's why I am trying for the gas cards and maybe one useful department store card.

I appreciate any response, advice, and/or comments. Thanks a bunch.

[braxas]

Use a debit card, forget the gas cards!

[ksblond]

How soon after my discharge should I start trying to apply for credt card cards to help rebuild my credit? Believe me I learned from my mistake of living way beyond my means....

[kjunior]

Good morning everyone,

Since filing my bk ch7 6/03 dishcarged 9/03. i have purshased a home 5/4/05, gotten best buy card $2,500, circuit city card $2000, home depot card $500, Old Navy $800, Union plus $3500, 1st premier $250 in which i am going to close, orchard bacnk card $300 limit just increase t $500, but may close that one as well once the others i first listed season for about 12 months or so, but will keep very low balances on all just to keep open. i just needed to re-establish since by bk and be ready to refi my mortgage in 2 years.

[creditobsessed]

Have you tried disputing the BK? My husband and I filed Ch7 in 1997 and I was able to dispute with the CRA's and get the BK removed last year. It was 7 years old, but atleast I didn't have to wait 10 years. I got it deleted off all 3 CRA for me and my husband. You're at the point where the actual TL's should start falling off. If there are any left with the BK notation try to get those off first. If they are all gone try disputing the BK. If if doesn't fall off wait a period of time and try again. If you could get it off atleast one report then you might could get a prime card through someone that pulls from that CRA atleast.

Good Luck!

[bullio67]

Have you tried disputing the BK? My husband and I filed Ch7 in 1997 and I was able to dispute with the CRA's and get the BK removed last year. It was 7 years old, but atleast I didn't have to wait 10 years. I got it deleted off all 3 CRA for me and my husband. You're at the point where the actual TL's should start falling off. If there are any left with the BK notation try to get those off first. If they are all gone try disputing the BK. If if doesn't fall off wait a period of time and try again. If you could get it off atleast one report then you might could get a prime card through someone that pulls from that CRA atleast.

Good Luck!

Yeah, that sounds like a good idea. I will try to dispute the BK-7 itself on the 7th year anniversary date. Anyway, I have nothing to lose, and I feel I have suffered enough for filing BK-7. If successful, I will shave off 3 years of waiting, and that is better than nothing.

Update: I got the Chevron card with $300 limit and I already used it. I plan to use it once or twice a month, and pay it off every month.

Thanks so much for your advice and good luck to all of you out there.

[credit123]

Have you tried disputing the BK? My husband and I filed Ch7 in 1997 and I was able to dispute with the CRA's and get the BK removed last year. It was 7 years old, but atleast I didn't have to wait 10 years. I got it deleted off all 3 CRA for me and my husband. You're at the point where the actual TL's should start falling off. If there are any left with the BK notation try to get those off first. If they are all gone try disputing the BK. If if doesn't fall off wait a period of time and try again. If you could get it off atleast one report then you might could get a prime card through someone that pulls from that CRA atleast.

Good Luck!

I saw that you were successful at removing your BK from all 3 CRA's. I filed in 1998 and successfully removed the BK from Equifax; however, they are still reporting on TU and EXP. TU has my "Assets and Liabilities" as $0.00 . I disputed it with TU but they are saying it's verified. I don't have any accounts which were included in the BK reporting.

How did you remove yours so successfully from all three?

[credit123]

Have you tried disputing the BK? My husband and I filed Ch7 in 1997 and I was able to dispute with the CRA's and get the BK removed last year. It was 7 years old, but atleast I didn't have to wait 10 years. I got it deleted off all 3 CRA for me and my husband. You're at the point where the actual TL's should start falling off. If there are any left with the BK notation try to get those off first. If they are all gone try disputing the BK. If if doesn't fall off wait a period of time and try again. If you could get it off atleast one report then you might could get a prime card through someone that pulls from that CRA atleast.

Good Luck!

I saw that you were successful at removing your BK from all 3 CRA's. I filed in 1998 and successfully removed the BK from Equifax; however, they are still reporting on TU and EXP. TU has my "Assets and Liabilities" as $0.00 . I disputed it with TU but they are saying it's verified. I don't have any accounts which were included in the BK reporting.

How did you remove yours so successfully from all three?

[creditobsessed]

I just disputed as "not Mine". I disputed several items at once and stuck it in the middle so it would appear as just another mistake on my credit report, and it was deleted. I had disputed alone in 2003 but it was verified, so I redisputed in 2004 when it was 7 years old and it fell off. It was my first big step toward credit repair.

[mrbreeze]

How soon after my discharge should I start trying to apply for credt card cards to help rebuild my credit? Believe me I learned from my mistake of living way beyond my means....

I am also curious about this. Any advice?

[LadynRed]

You should really wait a few months. You need to do some credit repair FIRST, starting about 3 months after your discharge. Once you've got the obvious errors corrected, THEN start looking for the best deals in credit cards. A secured card is best to get started and there are those that don't REPORT as secured.

[mrbreeze]

You should really wait a few months. You need to do some credit repair FIRST, starting about 3 months after your discharge. Once you've got the obvious errors corrected, THEN start looking for the best deals in credit cards. A secured card is best to get started and there are those that don't REPORT as secured.

Thanks. My BK was discharged on 2/25/05 and I am still currently recieving offers for UNSECURED cards. Is it just possible that they are unaware of the BK?

Also, at the time of my BK I had a CC that I had never used that was not included. They have yet to cancel that card. Is it safe to use that one?

Thanks for all the help.

[mrbreeze]

You should really wait a few months. You need to do some credit repair FIRST, starting about 3 months after your discharge. Once you've got the obvious errors corrected, THEN start looking for the best deals in credit cards. A secured card is best to get started and there are those that don't REPORT as secured.

Thanks. My BK was discharged on 2/25/05 and I am still currently recieving offers for UNSECURED cards. Is it just possible that they are unaware of the BK?

Also, at the time of my BK I had a CC that I had never used that was not included. They have yet to cancel that card. Is it safe to use that one?

Thanks for all the help.

Anyone........Anyone? Bueller?

[mrbreeze]

You should really wait a few months. You need to do some credit repair FIRST, starting about 3 months after your discharge. Once you've got the obvious errors corrected, THEN start looking for the best deals in credit cards. A secured card is best to get started and there are those that don't REPORT as secured.

Thanks. My BK was discharged on 2/25/05 and I am still currently recieving offers for UNSECURED cards. Is it just possible that they are unaware of the BK?

Also, at the time of my BK I had a CC that I had never used that was not included. They have yet to cancel that card. Is it safe to use that one?

Thanks for all the help.

Must be a tough one. I figured as much.

Anyone........Anyone? Bueller?

[willingtocope]

MrBreeze: About the credit card you've never used...

Technically, when you file a BK, ALL of your debts are included whether they are listed on your papers or not. This CC was included. Now, because they weren't listed, they may not have been notified by the court, but chances are they caught it off your CRs.

You might want to check your CRs to see if there's any indication there...if not, you might want to check with the CC's customer service just to see...

[mrbreeze]

MrBreeze: About the credit card you've never used...

but chances are they caught it off your CRs.

That's what I figured, but as of now I still have an account and just recently received new cards from them.

Also, I am STILL getting offers for unsecured cards.

Wondering if it just taking this long for them to realize that I filed, but my discharge was in FEB.

edit

ALL of your debts are included

As I said, I NEVER used it so it wasn't a debt at any time. More confused.

[willingtocope]

If you never used it, that might be a consideration, although I'd bet they'll cancel it as soon as they hear. To be safe, I'd either not use it and let it stay on your CRs as a positive TL (assuming it is now), or call customer service and ask. Last thing you need is credit complications because of this...and, if there's some kind of yearly service fee on this, you'll want to know if it can be used.

[mrbreeze]

So I guess the consensus is that the CC company AND the others sending me unsecured offers are STILL unaware of my CH7? That's what I'm tryin to figure out.

[willingtocope]

Maybe they're unaware. Doubt it. But there's only two reason for this: 1.) you have to fill out an application and send it back before the card is issued...then they'll check your credit and deny (dinging you with a hard inquiry on the way), or b.) They know and know that you can't file BK again, and, if your employed and making money, they know they'll get paid (and make lots of money in interest).

[mrbreeze]

They know and know that you can't file BK again, and, if your employed and making money, they know they'll get paid (and make lots of money in interest).

That is what I am figuring, since it's been 5 mos since discharge. Just wondering if I should attemot to use the existing card. I guess i should pull my reports first.