Credit Card Center Advertiser Disclosure

New Member
Posts: 4
Registered: ‎02-08-2008
0 Kudos

Chapter 7 filing again/old cc charge offs

I filed ch7 in 1998, when I  became ill and could not keep up with my debts. I am in the process of yet filing chapter 7 again due to a job loss in2003 that I never recovered form. I was only out of work for 6 months but the bills got too far behind. I have 1 car note, and 2 credit cards that are current I'e enver been late on. My problems are the colleections and charge offs for 10 accounts that I attempted to settle btu they are asking for outrageous amoutns of money for accoutns that are 5 years old. The statue of Limitations is 7 years in Ohio. I was being sued prior to filing the credit card balance was 500 they were suing me for 4500. My current Fico is 553 I was wondering once all the 10  delinquent /collection accounts are included in Bankruptcy wiil my fico still drop significantly or will it help it?Ive heard that at times a bankruptcy will increase your fico. I apprecaite your thoughts and opionions, thanks.
Established Contributor
Posts: 972
Registered: ‎12-04-2007
0 Kudos

Re: Chapter 7 filing again/old cc charge offs

you might take an initial hit to the score but it isn't insurmountable.  Your 10 years is almost up for the first BK on your record.  I filed a chapter 7 in 2001, and a chapter 13 in 04, dismissed, and in 05, just finishing up.  My scores are all around 600 now.  It is taking some time to get them up there but it is possible.
New Contributor
Posts: 70
Registered: ‎02-09-2008
0 Kudos

Re: Chapter 7 filing again/old cc charge offs

bk will not really hurt your fico if your fico was bad to begin with.

but as most people here say, the older the baddies get, the less hurtful they become. also, don't hesitate to challenge items in your reports..especially collections....those are perhaps the most hurtful to your score and most likely, they don't bother validating if they have been included in the bk. check for duplicate entries that are baddies. and if you file again and start over, start rebuilding as soon as the discharge comes.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.