@Fradykats wrote:I have recently filed CH 13 and will have a 5 year term payment plan. I know I cannot apply for new credit till it discharges. What I am seeking is information on things that I can do during this 5 year wait to be in the best postion that I possibly can to get a secured card and rebuild my scores.
Backstory: I was in 800 just 2 years ago and now around 550 after filing. My husband passed away a year ago and had ran up a lot of debt prior to his car wreck. I don't have any collections to try to get off. I do have a few late payments that I will attempt to try to get off from a year ago but I was making all the minimum payments but just not making any progress (due to high balances and interest) so I decided to file Ch 13 to keep house and reaffirm my car.
I just joined Navy Federal Credit Union and will have my direct deposits go and build my savings there over the course of the 5 years. Are programs like Kovo, kickoff, self, chime, etc worth doing during this time priod or just have to wait?
Don't waste your time trying to get the late payments off your reports, your bankruptcy makes them irrelevant. As for the programs you listed, they are basically gimmicks, I would avoide them like the plague.
Now, for what you can do, every Trustee is different, some like mine do not allow any credit at all, not even secured credit, others allow secured credit only, and still others allow you to start rebuilding during the plan period; check the details of your plan to find out for sure. I've been on this board for over three years and my unofficial gut guess is most Trustees allow for secured credit; if yours does, then applying for a secured credit card would jumpstart your rebuilding effort; Navy Federal's nRewards card seems to be hands down the best secured card for folks in your situation (if your plan allows). If your plan is like mine was, then you live off your debit card and bide your time.
