How bad are my TruCredit scores?

[JasonM]

Hello,

I'm in the 2nd month of my Ch. 13 bankruptcy-- It's been confirmed and I guess it's time for me to start fixing any mistakes on my credit report so in 4 years I'll be ready to start fresh again. Anyway I signed up for trucredit and my scores are 575, 547, and 575 for the three agencies. How bad is this? I read here that during chapter 13 (48 months for me) this score will hardly change, so I'm guessing even when I'm done paying this off it will be similar. Do I have a looong way to go? I'm pretty sure I will need another car in 4 years and was hoping I will be able to get a loan as soon as this is over. I'll be lucky if the one I have now will stay together until then.

[FilingOnMyOwn]

You're in the beginning. Your scores will improve. Hang in there.

[Hello_It's_Me!]

Hi JasonM!

Those scores aren't "so" bad. I've read here and on other forums about people who had credit scores in the high 300's to low 400's before they filed and/or after they filed.

I know you won't be able to do any credit re-building, however, you certainly could take a look at your credit report to make sure everything is being reported correctly. This could make a significant difference in your scores.

I realize you can't apply for credit while in your CH13, cleaning up the credit report is still a wise choice as it can affect car insurance and the like.

Just having one or two things corrected or removed could, and probably will bring your scores up to 600 range.

I'm no expert as I've only just begun my own journey into cleaning up & rebuilding, but from what I understand you would qualify for prime lending with a score of 620.

Jillian

[JasonM]

Hi JasonM!

Those scores aren't "so" bad. I've read here and on other forums about people who had credit scores in the high 300's to low 400's before they filed and/or after they filed.

I know you won't be able to do any credit re-building, however, you certainly could take a look at your credit report to make sure everything is being reported correctly. This could make a significant difference in your scores.

I realize you can't apply for credit while in your CH13, cleaning up the credit report is still a wise choice as it can affect car insurance and the like.

Just having one or two things corrected or removed could, and probably will bring your scores up to 600 range.

I'm no expert as I've only just begun my own journey into cleaning up & rebuilding, but from what I understand you would qualify for prime lending with a score of 620.

Jillian

Thanks for the info, very interesting! I'm hoping by the time my Ch. 13 ends my scores will be in the lower 600's so I can at least qualify for a car loan. That's the one thing that's going to get me through the 4 years, looking forward to having a new car at the end of this! I'm hoping some of the negative stuff on there will drop off in 4 years time.

[Danielle1981]

I filed chapter 7 in July and my scores are:

TU: 554
EX: 532
EQ: 641

I get my scores from true credit.

[Minnymouth]

Since you are only in the 2nd month of a Chapter 13, you are not going to see a big difference in your credit score for quite some time......

PUll your credit report, look over it closely, make sure everyone is reporting like they are supposed too....... BUT UNTIL your Chapter 13 is over and everything is "reported properly" upon completion of the Chapter 13...... credit repair is going to be very slow for you.......

Thing now to do..... keep a close eye on your credit, get your payment plan in 13 going good, get yourself used to a new style of living on a good budget... AND STICK TO IT......

Make plans, set new goals, and create a new healthy lifestyle to start when this Chapter 13 is over......

Keep us posted as to your progress.............

[HisLoss]

Just keep in mind that TC scores are FACO and not FICO. There could be (and usually is) a big difference.

[sfbehr]

I filed chapter 7 in July and my scores are:

TU: 554
EX: 532
EQ: 641

I get my scores from true credit.

Keep in mind that the TC scores are not FICO scores, so they're going to be different from what most lenders actually use.

[razorguns]

funny how scores differ so much with all 3 cr's.

And to fix them, u gotta do the same work 3x. Ridiculous system. And whne going for credit - creditors just go for the average of 3. Too bad there's no standard in the credit industry. I've seen scores flucutate 100 points each way.

r