Omg...my credit score is 550..discharge 9/23/2010

[tcreegan]

Hi all,

Just an FYI, lenders on reaffirmed or ride throughs will stop reporting b/c they are worried about violating the automatic stay or discharge injunction but they can start reporting again if they have your permission. Call them up and ask them to start reporting again, most will. Some will want a letter. Beyond the auto-stay and discharge injunction there is no law to prevent them from reporting on a ride-through or any acct you voluntarily keep paying.

Good job pulling your reports and cleaning them up HOMEBODY, 90%+ of the time they are inaccurate!

Tom in Colo

[btbeme]

My friend, it is not a credit score, it is a debt score. Every facet of how you are "scored" has to do with debt - how much you have, how much you have paid for how long, etc.

You are now debt-free. Most people, with a little effort and some good will power, can stay that way and still live their lives very well, even on a very modest income. Let your friends and neighbors stay up all night worrying about bills. Having positive net worth is a very nice thing - that is the sense of relief you felt when you made those deposits. Don't go into debt just for a "credit" score. You CAN afford to live on cash, within your means. You can. You can...

You will be absolutely amazed at what you can accomplish if you have cash. Believe me, you will think twice about buying something that depreciates faster than you can save money (like a new car).

[tobee43]

My friend, it is not a credit score, it is a debt score. Every facet of how you are "scored" has to do with debt - how much you have, how much you have paid for how long, etc.

You are now debt-free. Most people, with a little effort and some good will power, can stay that way and still live their lives very well, even on a very modest income. Let your friends and neighbors stay up all night worrying about bills. Having positive net worth is a very nice thing - that is the sense of relief you felt when you made those deposits. Don't go into debt just for a "credit" score. You CAN afford to live on cash, within your means. You can. You can...

You will be absolutely amazed at what you can accomplish if you have cash. Believe me, you will think twice about buying something that depreciates faster than you can save money (like a new car).

excellent prospective.

[HOMEBODY]

Ok..so I went through all the credit bureaus on 9/27/2010 and check the reports and made sure it was all accurate and disputed the ones that were not. Today I checked with Experian and they are now reporting accurate but guess what?....my credit score is still 550. Why is that? Does it take time for the score to change after the credit bureaus updated the reports?

[SunshineGal]

I'm telling you...there is no rhyme or reason to credit scores. Regardless of what your score is today, most lenders will have use automated underwriting system that will kick you out because of the recent bk. The lenders that are after recent bks won't care about the score. Quit stressing, keep paying on your reaffirmed debt, establish a credit card or two if you can (Important...do not max it out! They are looking for no more than 33% of the limit used) and let six months go by....you'll see an increase in your score....I promise.

[mickeyme]

One year out of BK my credit score was in the mid 600's. All we had left reporting on our credit report after the BK was our cars that we reaffrimed.

[tobee43]

I'm telling you...there is no rhyme or reason to credit scores. Regardless of what your score is today, most lenders will have use automated underwriting system that will kick you out because of the recent bk. The lenders that are after recent bks won't care about the score. Quit stressing, keep paying on your reaffirmed debt, establish a credit card or two if you can (Important...do not max it out! They are looking for no more than 33% of the limit used) and let six months go by....you'll see an increase in your score....I promise.

well you got that correct...since after reading this post why would ours just being discharged be 690 and 685....while others it's a year later as the poster and they at least have a car payment. (we don't we surrendered a car and our house). go figure!

and lets NOT forget..... and this use to really get me.....even when our scores were up in the 800's we would be told ...o sorry your credit score is NOT good enough to get the zero financing....i would ALWAYS bring a copy of the report me, (in those days i had copies quarterly), with me when we would shop for a car or large purchase...and pull it right out and ask them to explain what it is that' exactly wrong with the 820 and 840 scores that would make us NOT eligible for the zero finacing....???? were they looking for a 1500??? this is NOT the SAT's!!

sunshine's surely correct there simply is no rhyme or reason!

we just feel now we are forunate at this time of our lives....the only big purchase we would ever need again would be another car if something happened to our car now which is pd in full and has 70k easy miles on it....but we would buy used and pay cash.

oh!! and except my cases of grey goose! other than that what's left to buy...

[Meatstick]

Homebody just keep in mind those scores you are getting from the Experian, Equifax and Trans Union websites are FAKO scores. IF you really want to know what your true scores are you need to get the FICO score for each.

[tcreegan]

"FAKO" scores... Thanks for the laugh Meatstick !

[SunshineGal]

Actually, Equifax sells the actual beacon score unless they changed it recently. But yes, the other two are "Fako" scores, lol.