So back in 12/01 we filed for BK, and Now 12/11 is coming shortly and I am biting at the bit to see it come off of the reports. First thing I am curious is have any of you seen a jump in scores? and if so what could I expect? Does this truly mean that I am now Prime Time ready? Prime Credit cards that is...It has been 10 years since I have seen a discover or any nice cards and I would love to kick the starter cards to the curb. All my scores are in the mid 600s.
First off, congratulations! I filed CH 7 BK in 5/2002. My 10 year point is almost here. I have been doing a lot of research on this subject also. Provided all the bad accounts fall off, and the public record is removed on time, I have found that it will be anywhere between 15-20 point increase. My brother's FICO went up 18 points when his fell off.
All of my BK accounts were removed (without my prompting) about 5 years ago. The only thing that lingers is my public record. Also, I have seen a fair amount of people have their public records removed the month prior to filing. I wouldn't be surprised if yours has fallen off already.
Starting Score 5/1/2002: 553 Current Score 5/30/2012: 785 (EQ FICO) Current Score 10/2/2012: 803 (TU FICO) Goal Score: 800