topic Re: Score bump after discharge? in Bankruptcy

Score bump after discharge?

starry1 — Tue, 22 Jan 2013 18:48:45 GMT

Will there be a score bump once BK has changed from "filed" to "discharged"?

Re: Score bump after discharge?

Scupra — Tue, 22 Jan 2013 18:52:43 GMT

I think this is different for everyone. I saw a score bump but have seen others decrease.. YMMV as always haha

Re: Score bump after discharge?

coreyb80 — Wed, 23 Jan 2013 14:05:13 GMT

You should see a bump as long as everything is reporting correctly. I had to fix some things on my report and then I saw a bump.

Re: Score bump after discharge?

starry1 — Wed, 23 Jan 2013 14:09:01 GMT

Ah well, I probably won't get much of a bump unless some things decide to delete because I've been working on my report since I found myfico and everything that's supposed to is already at a zero balance.

Re: Score bump after discharge?

coreyb80 — Wed, 23 Jan 2013 14:32:19 GMT

Is everything reporting as Included In Bankruptcy?

Re: Score bump after discharge?

starry1 — Wed, 23 Jan 2013 14:36:03 GMT

Yes, $0 and iib, or just deleted. Everything except a judgment. I'll work on that when I have discharge papers in hand , that should be in about 2-3 weeks, fingers crossed.

Re: Score bump after discharge?

coreyb80 — Wed, 23 Jan 2013 14:40:06 GMT

Sounds like you're good to go.

Re: Score bump after discharge?

MovingForward_2012 — Wed, 23 Jan 2013 16:40:41 GMT

When my Chapter 13 was discharged in 2011, I think I saw a small bump of maybe 30 pts 3-6 months after the discharge (it wasn't immediate), and it kept going up into the 700+ from there. I first pulled it after discharge for a mortgage preapproval check in July 2012 and my highest fico score was 754. My score has went down about 30 pts since then because an old collection from 2009 added KD to the credit reports which refreshed the collection. Now my highest fico is 718. The Chapter 13 was deleted off my reports at the same time the collection was refreshed and I think that saved my score from a deeper hit last fall.

Re: Score bump after discharge?

hrguy — Thu, 24 Jan 2013 02:24:12 GMT

Usually when it goes from filed to discharged there is a jump. I saw about a 65 point increase.

Re: Score bump after discharge?

starry1 — Mon, 28 Jan 2013 20:13:05 GMT

About how long does it take for the CRAs to catch on and update your report to discharged?

Re: Score bump after discharge?

hrguy — Mon, 28 Jan 2013 20:34:48 GMT

Usually within days - somehow those reports are run daily and they update quite quickly, I got discharged on a Tuesday and by Thursday it had hit my reports as discharged.

Re: Score bump after discharge?

hrguy — Mon, 28 Jan 2013 20:36:31 GMT

But if you are trying to do something immediately like buy a car or such, you can log into Pacer and print the discharge record and most if not all creditors will accept that, you probably wont get the mailing from the court for about 7-10 days after the discharge.

Re: Score bump after discharge?

starry1 — Mon, 28 Jan 2013 20:44:34 GMT

I'm going to NFCU the Saturday after I get my papers, and I'm on Pacer so I won't have to wait for them to arrive in the mail. Wish me luck, I'm hoping that since my scores are now about (or very close to) 600 that they will let me have an unsecured card. But I do have cash in hand if they want me to secure first. Its about an hour's drive to the nearest branch, so I'm planning on Saturday. I got a big score bump 2-3 weeks ago, but I'm being disciplined and not pulling my TU report and just waiting for the free update in March or wait until CK says the discharge has hit and then pull. My fakos are TU 620, EX 592, Equifax 622. The real scores, as I know them, are in my signature.

I was financed for a car two weeks after filing, so that's not an issue.

Re: Score bump after discharge?

starry1 — Sun, 17 Feb 2013 20:38:15 GMT

Well that was fast. Experian already updated to discharged from Friday the 15th. I got a Sesame alert at 430 this morning and then an MPM alert at 930. No score bump as I predicted. Other than that judgment, I left one derog just for the age. Maybe I'm wrong and should try to get it removed. It will drop this fall either way.