BK'd credit or no credit?

[Joekster]

I have a unique situation. Due to a very long story (hopefully not important to my question here), I have a choice between my using my credit report that went through bankruptcy or a completely blank credit report. Would establishing all new credit be harder than re-establishing my dammaged credit. I filed in mar 2010 and discharged in July 2010. I had approx 3 trade lines with 2 years history and only 1 30 day late at the time of filing. My credit score was approx 650-680 minus whatever hit the bk did. None of the accounts survived the bk.

Thoughts anyone?

[LSUTiger32]

LOL! I am not touching this one with a ten foot pole!

[Logan]

You would still have a BK on your public record which should report on both credit reports.
I don't think it would matter either way but that's just a guess.

Logan

[Joekster]

I checked both credit reports last week. The old one does have the bk public record as well as all the trade lines. The new one is completely blank - no bk public record or any trade lines - not even any hard inquiries.

[justbroke]

To get really high scores, you need a credit history. Starting off fresh is difficult. You'll have to figure this out.

[nfreeze]

I can only assume you are referring to one of those CPN's or SCN's one would see advertised which I believe are illegal and could land you in a bunch of trouble. I did do some looking into this and everything I found ended up no good. They even offer to sell tradelines to create a "FRESH START" but I don't think it is a very good idea. Just my opinion which doesn't mean much but...... having filed bankruptcy, I think I have enough problems on my hands without complicating issues with a fake SSN. If this is not what you are referring to, I am sorry for chiming in.... lol

[backtoschool]

changing your ss# or trying to get a fresh report through another id number is illegal. Period. If your report split and half of it is showing blank, then the creditor most likely will see both reports, since they are tied to your ss#.

All models that creditors use, assume that having no credit at all at an adult age, is an indicator of something negative, either fraud, or no resources to obtain credit and pay for things. Fraud modeling is built into credit card applications, and having no credit history is a huge red flag for fraud, unless you are still of college age or younger.

[Joekster]

I can assure that nothing illegal is going on. I can have the two files merged if I choose or not. So my question is still the same. Is credit with a bk on it better or worse than no credit at all?

[justbroke]

They will more than likely get merged eventually. Much of the credit reporting agency data is based on name and address, not social security or taxpayer identification number. Unless you talk to Fair Isaac, there is nothing anyone can tell you except what I already posted.

Time heals all wounds. Length of credit history is second only to payment history..

[backtoschool]

I can assure that nothing illegal is going on. I can have the two files merged if I choose or not. So my question is still the same. Is credit with a bk on it better or worse than no credit at all?

Length of credit history is very important. Having a new, empty file at an adult age will be negative. There is no way to quantify whether it will be more negative than having the bk showing, but, it will be negative.

[ccsjoe]

When I moved back stateside permanently I had no credit history here. I was already an adult and building up credit from scratch and it was a pain it the posterior....took me almost a year of having a checking account to be allowed to apply for a secured card...and even then only after almost 1 year with a secured card was I able to get a regular from a different lender. In addition, I had to use subprime cell phone service providers due to no credit history, pay deposits for utilities, etc. No thank you, never again. Gimme a damaged one that I can fix.