Credit Score after filing

[calgirl67]

We filed in Feb, had our 341 on Monday and I thought I would pull our credit reports and see what will need to be cleaned up.

My husband's score was 670, 682, 698 which shocked me... I was expecting a 499 score! Pre-filing it was 592, 610, 570.

So all the CC's now show IIB Included in Bankruptcy, except Wank of America.. so I will contest that.

All CC account that show IIB show NO lates (have not paid for over a year). Mortgage accounts show NO LATES (have not paid since Oct 09 and tried to get a loan mod 3 times). Weird... The 2nd mortgage says IIB account closed or something.

[Ann]

calgirl, I never like to give my input unless I really know something for sure (since at this time I' STILL going through the process of trying to file) but I would say those are pretty good scores considering the whole bankruptcy. My question is even if we come out with decent scores just the fact that we have the big "B" on our report I'm thinking that is going to be scrutinized HEAVILY by any new creditor. Am I way off on this???

[calgirl67]

Your score is what counts the most. They look at the BK somewhat but if you have paid your bills on time since filing and have not taken on a huge CC debt again, you're pretty much in the clear.

I know this as I know a mortgage broker at Wells Fargo who confirmed this an also a F & I manager at a Honda dealership who went as far to say they don't care about a B or judgement, just your score and current income.

I have also been told that filing Ch 7 IMPROVES your creditworthiness.. the predators are free to pile more credit offers on you - most people don't learn their lesson and take them, get into the debt cycle again and CAN'T FILE FOR ANOTHER 7 YRS. HUGE profits to be made off high interest and judgements on someone who can't file for BK protection.

If you file keep in mind you have to come out of it using it to improve your situation and not be taken in again with easy credit.

[yourbabymomm]

Thanks for posting this, has anyone else done the same thing?
I pulled my EQ a few days before the 341 to see where I was at because I want to pull again after the discharge to see if there's a difference in scores.
Mine won't be quite as good; I had a 450 score or thereabouts.
Did you pull your scores through FICO's site or did you use a monitoring site? Those tend to be off as far as scores go (FACO hehe), but are a ballpark.

[screentest]

Hi calgirl,

I noticed the same thing when my in-laws filed last October. They were discharged in January and I ran their credit report for errors two weeks ago.

They walked away from everything including their mortgages and now have a credit score of 688, 698, 672. I was stunned to say the least.

In comparison, my credit score is coming in across the board in the low 600s and I have never missed or been late on anything ever. I am just drowning in debt...lol Going to be late for the first time this week.

I could not believe they have a recent BK and have much better credit that I do. Sounds like their is hope after all this mess.

ST

[ryan]

We filed in Feb, had our 341 on Monday and I thought I would pull our credit reports and see what will need to be cleaned up.

Isn't it possible that checking scores this early won't reflect where they will ultimately 'settle'?...seems like I'd want to see scores after 6 months or so.