How much did your score drop with BK?

[anonymuse]

Some people start with decent scores pre-bk, but others are already with fair-poor scores.

How many points did you score drop with your BK?

[aa06a47]

My score initially dropped 120-130 points when the bk was filed. It has creeped back up 20-30 points when the credit card companies showed all balances of zero. So in rerality, 100 points was my drop.

[emoney]

Score Drop

Before filling BK 7 in August my middle score was 813. A month after filling it is now 624.
Thanks,
emoney

[ekelly4200]

Some people start with decent scores pre-bk, but others are already with fair-poor scores.

How many points did you score drop with your BK?

While in a DMP my scores were in the 620-630's.(not much different than b4 DMP) After I stopped paying for the past 3 months in preparation for filing they dropped 100 pts and I haven't even filed yet. Should be fun to see what they are once I file.

[razorguns]

i had massive debt - so it went UP after bk.

r

[CATCHMEIFYOUCAN]

I'll find out next year, since I've already had my "free," credit reports for the year. btw - this is a FREE way to be able to get all your credit reports from all three bureaus (no credit card required either!):

https://www.annualcreditreport.com/cra/index.jsp

I got this from the CCS class I had to take just before I filed

Best Wishes, Catchmeifyoucan

[miss puff]

i had massive debt - so it went UP after bk.

r

OMG razor, lol. That is exactly what happened to me. Shocked me, had to look at the numbers twice.

[HHM]

There is no set formula for how much your score will drop after a BK, and if your score is really in the toilet, your score will actually go up after BK.

Remember, your credit score is a determination of how risky you are relative to a potential lender. If you have a ton of unsecured debt, and it all gets whipped away in BK, and you have a job, you suddenly look a lot better to lenders becuase you don't owe a lot of money.

But yes, BK is, generally, a negative factor on your CR, but if you have a solid credit rebuilding plan, nearly all the negative effects of yoru BK will be eliminated after 2 years (despite the fact that a BK can be "reported" on your CR for 10 years, although it usually drops off after 7).

[BassBoy]

I agree HHM, after BK (discharge) we are a better cresit risk. My scores went up as well. They didn't go up a lot, but they went up.