10-30-2012 07:35 PM
11-01-2012 07:25 AM
If every account is closed, and have no open accounts, and the BK reports too then you wouldn't have a FICO score at all. Once you open a new account in the future, then a FICO would be generated because you already have a lengthy history to back your credit up. If you remove these old accounts, then you lose that leverage and your starting FICO score will be much, much lower with only the BK and a new account showing. Even though an IIB account is a negative, not having the length of history to prop up your credit hurts more.
11-01-2012 09:50 AM
11-01-2012 09:56 AM
You had mentioned that only the BK would show so I was assuming that you didn't have any opened accounts. If you do have opened accounts, then obviously you do have a FICO score and are on the way to rebuilding the score back up.
You still need to weigh the age of each IIB account in relation to your AAoA, and to the age of your overall length of history. While a IIB notation on your CR within a given tradeline is a negative, the history can help more than the baddie hurts. In other words, in some situations, removing a IIB account can drop your score because you are losing history.
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