Bankruptcy deleted with call to equifax

[Anonymous]

Well Ive had a chapter 13 on my report since 2005. I was under the impression that it was to stay on your report for 10 years.  I called to get an early exclusion. Sept wil be the ten year mark.  The agent told me that it stays on your reprot for seven years and he processed my request and stated the bankruptcy will be removed within 30 days from my account yayyyyy. Score jump coming.

[morgacj2004]

I certainly am no expert on this subject but have been told that once your BK is removed you will be judged by a different set of criteria. In otherwords you will now be compared to others who do not have BK on their record. Have been told that some times scores go up and sometimes they go down, depending on how the rest of your credit hx looks. Keep us updated. Curious to know how this works for you. My BK is only 3 yrs old so I still have a long way to go.

[Anonymous]

Congrats on that removal!

I watched my scores as my seven years were up in May of this year. The bankruptcy fell off in April. When that happened I began cleaning up what was left that needed correction in my reports. It resulted in an approximate 100 increase in my credit scores. Experian is still low because they have not yet removed everything they should have. I have a dispute filed with them to get them updated.

Check out my scores and credit line. This has happened for the most part in two and one half months. You can do it, too!!! I am so happy to see a fellow Chapter 13 forum member make the "new" start! Best of luck to you!

In my wallet: Quicksilver 5000; Venture 15,000; Barclay Apple Rewards 2000; CareCredit 3300; Bank of America Platinum Visa 2000; Bank of America Travel Rewards 3500; Bank of America Travel Rewards 3500; Amazon Store Card 5000; Discover 10,000; Barclay Ring Platinum MasterCard. 12,500. Total Credit: 61,800.
6/27-FICO: EQ - 789; TU - 781; EX - 681; GOAL: 780 across the board then 800 across the board. Inquiries: EQ: 4; TU: 6; EX 7; Chapter 13 seven years May, 2015. Reset my garden date to 6/27. Gardening until further notice.

[pizza1]

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@morgacj2004 wrote:

I certainly am no expert on this subject but have been told that once your BK is removed you will be judged by a different set of criteria. In otherwords you will now be compared to others who do not have BK on their record. Have been told that some times scores go up and sometimes they go down, depending on how the rest of your credit hx looks. Keep us updated. Curious to know how this works for you. My BK is only 3 yrs old so I still have a long way to go.

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youre correct...

once the major derog of a PR..(BK) falls off, y ou are then "rebucketed", and then graded again amongst the people who fit your current credit profile, and your scores will reflect that. YOu may or may not see a huge jump like you want, or you might...depends on how you are graded by FICO in your new rebucket

[morgacj2004]

Thanks Pizza 1 . "Re-bucketed" is the exact word that slipped my mind.

[Anonymous]

Hopefully Im graded good. I mean The bankruptcy wasnt a huge affect for its almost ten years old and I have over 150,000 in credit on my own with it on there with 1% utl overall.  Now I see that a discharged chap 13 stays on for 7 years and a dismissed stays on for 10 years.. Well I shall se in 30 days or less how this score goes. right now im at 641eq 680tu 690ex the bankrupcty is only on the eq reports and not the other two.

[Anonymous]

I was informed that my bankrupcty will fall off within 30 days.  Is there anybody here who's fel off before 30 days and if so how long did it take

[pizza1]

they say 30 days, but its usually like within a week, if not 48hrs.. but I wouldnt go apping until I had proof it was gone, and then pull your new scores here at fico

[Anonymous]

thanks @pizza but no apping for me until 2016. I have to many cards and alot of points to go on vacation with

[TRC_WA]

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@Anonymous wrote:

Hopefully Im graded good. I mean The bankruptcy wasnt a huge affect for its almost ten years old and I have over 150,000 in credit on my own with it on there with 1% utl overall.  Now I see that a discharged chap 13 stays on for 7 years and a dismissed stays on for 10 years.. Well I shall se in 30 days or less how this score goes. right now im at 641eq 680tu 690ex the bankrupcty is only on the eq reports and not the other two.

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Yes that is correct.

TU and EX have been known to delete dismissals at 7 years provided they were voluntary (and not for default) but EQ pretty much sticks to the 10 years.

You can also get early exclusion... 6 months for TU and 3 months for EQ/EX are the norm.  My discharged 13 is set for April 1st removal... so I'll be calling TU in Sept/Oct and EQ/EX in January.

Grats on your removal... I'm expecting a boost well into the 700's once mine fall off.  I'm 678/687/665 with the bankruptcy and IIB accounts still on all 3 reports.