Credit Karma

[mountanddo]

I signed up with Credit Karma just prior to filing Chapter 13. My score was 585. Two days after I filed my score went up to 592. One week later my score went down to 562 and that is where it is today.

A couple of things...

I have a chapter 7 that I filed 7 years ago. When will this come off of my credit score and how much do you think it will affect my score given I have just filed Chapter 13 or will it even matter when it comes off?

Someone mentioned in another post that your credit score starts increasing when you file Chapter 13 not when it is discharged.

Given my score now and that I am in a Chapter 13 for 3 years what could I expect my score be once I am discharged?

[df04527]

The Chapter 7 should come off in the month it was filed (usually end of that month) however, most bureaus will delete them even before that. Yes it will increase your score once it's deleted. Maybe not as sizeable an increase as you would have seen if the Chapter 13 wasn't there but an increase nonetheless.

[mountanddo]

Is that 10 years after the Chapter 7 was filed?

[OhioFiler]

Frankly, I wouldn't worry too much about my credit score 2 weeks after filing.

[mountanddo]

Frankly, I wouldn't worry too much about my credit score 2 weeks after filing.

Well frankly, that's you and not me I'm not worried about it. I am curious as to what it might be. The more information you can learn the better IMO.

[OhioFiler]

Well frankly, that's you and not me I'm not worried about it. I am curious as to what it might be. The more information you can learn the better IMO.

Alright then, I'll give it my best shot. 656. :-)

[df04527]

Yes - Chapter 7 is 10 years - sorry I should have added that.

[mountanddo]

Alright then, I'll give it my best shot. 656. :-)

LOL, really I do see your point. Just thought maybe someone might have an idea what it would be.

[OhioFiler]

LOL, really I do see your point. Just thought maybe someone might have an idea what it would be.

I think a sense of humor is required to get through this process.

[df04527]

There's really no way to take a guess - there are so many variables in play it is impossible to guess. Depends on exactly where you are and your financial state when you are ready to pursue new credit but do remember that time is your best friend when it comes to credit reporting. Lay low, get back on track and your head above water and then carefully consider if your ready for new credit. hth

[JackBondLove]

Credit Karma is 50 points too high (vs. Equifax) for me!

[Nicollette]

A Ch 7 comes off your credit report 10 years from the date of filing, and a Ch 13 is 7 years from the date of filing.

[shark66]

I've been in Ch. 13 for over a year and a half, and according to Credit Karma my score hasn't moved a pinch.

We'll see what the discharge brings...if I make it to one...

Good luck to us all.

[mountanddo]

I've been in Ch. 13 for over a year and a half, and according to Credit Karma my score hasn't moved a pinch.

We'll see what the discharge brings...if I make it to one...

Good luck to us all.

Well that shoots down the theory that your credit score improves in a Chapter 13 at filing.

[shark66]

Well that shoots down the theory that your credit score improves in a Chapter 13 at filing.

It did improve a bit with filing, by like 40 points...but has been the same ever since.

One thing to bear in mind is that my debt-to-income ratio is very high. Once the second mortgage falls off after the completion of Ch. 13 (God willing) that should change the situation quite a bit.

Do I really care? Heck, no.

Just want the whole Ch. 13 purgatory to be over so I can move on.

Good luck to us all.