How can this be?

[aa06a47]

I know I should have a low credit score because of my BK. However, how can it even be possible that my credit score is higher than 30% of the population? Shouldn't my score be somewhere like at the bottom 2%? If I understand things right, about 1-2% of the households in america files bk. Since my score is ranked above 30% of the population, does this mean 30% of the population should declare bk but haven't?

[SinkingFast]

At least you aren't at the bottom of the heap??!!

Your score is down there right now because of the hit of BK. Prior to this time, you paid as agreed and had a decent credit score.

You will rebound!!

[Pinktiger]

You don't understand? Your score is below 70 percent of everyone else.

[aa06a47]

You don't understand? Your score is below 70 percent of everyone else.

Yes it is but at the same token, I just filed BK, I would think it should be closer to 98% of the people have better scores than me, not 70% have better scores than me. I think you miss my point. Point is, if someone can file BK and the credit score is better than 30% of the rest of people, then how the hell is those 30% making it?

Also, let's look at the glass 30% full instead of 70% empty!!!

ps...I subscribe to true credit. Transunion has my credit score at 682, Experien and Equifax are 572 and 569. Transunion still shows me as "fair" risk, while the others show me as a "poor" risk.

Transunion has several mistakes on my credit report...showing BK accouts as paid and closed. I won't be challenging those mistakes!!

[FilingOnMyOwn]

Think about it this way. You now have zer0 debt. There are other people who have debt, possibly lots of it, and still have a higher score.

[SinkingFast]

Think about it this way. You now have zer0 debt. There are other people who have debt, possibly lots of it, and still have a higher score.

Yep! Yep! That was us. 685, making monthly payments, with a ton of debt.

And there's more than debt to impact Credit Scores.

Think about how many people out there with Judgements, Liens, and whatever else in the way of negative "Public" reporting that drags down their scores.

And possibly maxed out cards. Maybe not a ton of debt but every card maxed out.

Slow pays. Haven't truly missed payments yet, but always pay late.

Lots of Credit Inquiries. People mindlessly loan shopping dealership to dealership or mortgage lender to mortgage lender type thing.

People with no credit. Like our parents. They've only ever had a mortgage and a car loan here and there over the years. Houses paid off long ago. Never had a CC. Only took a personal or store loan to buy a fridge or stove when the old one died and they absolutely had to have another. Or like our Son. He's getting CC offers almost daily. We checked at annualcreditreport.com and got no hit off the CRA's on Son. No Creditor inquiries and no CC's so no Credit.