What are your scores post-BK/Discharge?

[mom2three09]

We are 7 mos. post discharge and our scores are still in the 500's We have done a lot of CR cleanup, but TU seems to be one that is a real PITA because they refuse to show $0 balance (and instead leave it blank) and all of our IIB are marked "Unrated"

We have two low limit CC's (Cap1 & Best Buy) and an auto loan (all received within the last 3 mos. or so). We have used the Cap1 card for a small amount so we can get a CL increase that they offered us (after making 3 payments), but have not touched the BB card.

I guess I had hoped to see our scores rebound a little quicker than they are But then again, our scores were tanked before filing because we had not paid on anything in about a year.

Just curious where everyone else stands as far as scores go. Please put your discharge date and if the scores are FICO or FAKO

[HHM]

That is still pretty early to see a meaningful boost. A lot depends on where you were going into the BK. Actually, what probably hurt you is that you have 3 new loans within the past 3 months. Granted, you need to establish some credit usage after BK, but you need to space it out. Getting a bunch of new loans all around the same time is actually a short term negative on your credit report.

Normally, I would expect your scores to be over 600 by the 12 month mark after BK.

At the same time, I wouldn't worry about it that much. Start saving money. Your credit will take care of itself, you have done the post discharge clean up, you have some new accounts, time will take care of the rest. There is nothing more you can affirmatively do to alter your credit at this time, so stop worrying about it and live your life.

[mom2three09]

That is still pretty early to see a meaningful boost. A lot depends on where you were going into the BK. Actually, what probably hurt you is that you have 3 new loans within the past 3 months. Granted, you need to establish some credit usage after BK, but you need to space it out. Getting a bunch of new loans all around the same time is actually a short term negative on your credit report.

Normally, I would expect your scores to be over 600 by the 12 month mark after BK.

At the same time, I wouldn't worry about it that much. Start saving money. Your credit will take care of itself, you have done the post discharge clean up, you have some new accounts, time will take care of the rest. There is nothing more you can affirmatively do to alter your credit at this time, so stop worrying about it and live your life.

Thx, HHM!

Yes, we did lose 10 pts on EQ after our new lines of credit started reporting. We have gained back a few points, but it sure is a slow process We're through applying for new credit ... our plan is to just let the credit we have age now... I know time is our friend, but I am just such an unpatient person

[jennordhavn]

Last time I checked which was about 1 year post-discharge my scores were TU 627, EQ 611 FICOS and my EX FACO is currently about 613. My scores prior to BK were 531, 457 and 464.

[liz417]

My score prior to BK was hoovering around 565 (I stopped paying my CCs 1 year prior to filing for BK) and I just pulled my Fico Score lat month (discharged 9/11/09) and it was at 653. Since Bk, I've taken out one Capital One Card and just recently opened a second Credit Card to help my score.

I think whats hurting your score right now is the "Unrated" accounts. I think you need to address that issue with the CAs.

[backtoschool]

My score was around 600 when I filed for bankruptcy (I had not paid on some cards for almost a year and had been paying on others right until I filed). I was discharged in early 11/09.

Right now my score is somewhere between 665 and 675 depending on the bureau. What is helping my score is that I have a long history of auto loans with no late payments, with several cars paid off that are still showing on my reports, and I have a long history of student loans with no late payments that gives my file some age. I have 4 credit cards post discharge, two capital one cards (one with a $2,000 limit and one with a $1,000 limit that is about to go to $1,500 because I just made my 3rd payment...) An orchard card with a $300 limit, and a secured visa from my credit union with a $5,000 limit that I use for business travel since I cannot get an amex because I bked them. I pay all of my cards off in full each month, and do not carry a balance on any of them.

Age of accounts, mixture of accounts, length of credit history, and what your score was prior to bankruptcy all affect your score. If you were in the low 500's before you filed and are in the high 500's now, that is about the same relative improvement that I have gotten 6 months post discharge. If you start lower, you have higher to climb unfortunately.

[SeattleBK]

My score was around 700 something when I filed.

Right after the discharge it was around 570, and I was really surprised, but some credit card companies that I don't owe anything to, never closed the accounts and are still reporting, "paid as agreed".

I did include all my credit cards in my bankruptcy and I don't have a clue as to where the credit cards with the still open accounts are, since I haven't used them in years anyway.

I just checked my score out of curiosity and it's 643 and I haven't done zip to clean up my credit report. I'm on a cash basis right now and still unemployed, and I'm not really interested in applying for credit cards even when I'm working again.

However, I can understand wanting the security of having a credit card or wanting to build credit to buy a house.

[backtoschool]

I actually went and looked at my old credit reports right before I filed, just to check what the score was. (I was guessing in my last post). My scores right before filing were actually a bit higher than I thought (620, 630, and 621), and I checked my credit cards and the longest I went without paying them was 10 months (that was only one card) several of them were at six months of no payment, several of them were at three months no payment, and the rest I paid up until I filed.

I pulled my scores this morning. (equifax and transunion only. I don't use experian's proprietary score). My equifax fico score is 671 and my transunion fico score is 678. I have been discharged since 11-5-09. (6 months)