Just got discharge & checked credit scores

[calgirl67]

Got our discharge a week ago so decided to pull the credit reports and start work on cleaning them up.

Some old accounts over 7 yrs old, etc.

The biggest shock was our credit scores:

Him: 677/673/654
Me: 664/673/685

I thought it would be totally in the toilet. I was expecting in the low 500's.

And as expected, got 2 credit card offers in the mail today. One from Capital One and the other from Orchard Bank. Both unsecured cards with low fees and interest.

[keepmine]

Credit scores are pretty meaningless for awhile post bk.
Some lenders won't touch you as long as the bk is onthe public record section of your credit report. Others will want to see a few years of the bk aging before you qualify for any loans.
In these situations, your credit score won't matter if you don't fit the lending criteria.

[BCA2009]

Are all o your account showing discharged? Possible some haven't reported yet. Mine fell to the low 600's, my wife to mid 600's, but I have a 5K credit card and a 2k card that somehow survived the BK. ( they have zero balances), so I'm not really worried about my score for a while. I'll use them strategically to help rebuild my credit.

[calgirl67]

Yes everything is reported as IIB included in bankruptcy except for:

2nd mortgage - reported as CLOSED

3rd mortgage - reported as PAID AS AGREED (I have not paid it for over a year)

I put in disputes on these items to have them changed to IIB, yesterday.

ps... I am not really concerned about my score I was just surprised it was so high - in light of a BK on my record. Believe me I LOVE living the cash life!

[liz417]

I started working on cleaning up my credit reports about 2 weeks after discharge and I pulled them again after a few more months (some items did change within that time). Anyway, I was surprised too at how my credit score rebounded after discharge


Good Luck!

[SMinGA]

But what scores did you pull? They're meaningless unless a potential lender is using those particular scores to evaluate you for a credit decision. I know they are not FICO, because FICO now only sells the Equifax & Transunion score. (Experian will not allow their FICO to be sold to consumers, don't know why.)

My understanding is FICO is the standard, in that many lenders use FICO. Yet there are dozens (maybe more) scoring models out there. Very few get used by creditors.

I don't mean to burst your bubble - working to correct any errors on your report will be useful down the road.