Bankruptcy

[britestar969]

Can anybody tell me why there is  such a huge difference in the credit scores post bk7? BK 7 was filed 3/12 and discharged 7/12. Not sure what the starting credit scores were but I know they weren't good at all...

TU: 619

EXP: 556

EQ: 590

[Scupra]

Everybody has a different report with a different situation. Have you cleaned up your report after the discharge? I feel like your eq and ex scores are pretty much on par with what I have seen from people in the forums after BK. Your TU seems low but my TU score is also the lowest of my three, Just start slow and get as much help as you can from people on these boards. It can seem like a lot at first but the people here are great and have awesome advice/experience. One step at a time and you will get there.

[britestar969]

Thanks! I'm addicted to this site. I'm amazed at how much credit people are able to get after a bk7.  I have First Premier (300.00) and Merrick Bank (600.00). Not going to go on any sprees for a good minute.  These boards have clearly showed me that this is not the thing to do!!

[Scupra]

Awesome! Sounds like you have a good start. Now just remember 10% util and alternate the two for a while during some gardening and wait for your scores to come up! Good luck

[shols44]

The major reason for most score jumps post BK is typically utilization IMHO. 

If you have charge offs, collections, judgements etc...most these automatically report your utilization as 100%.

They day after BK, this drops to a whopping zero! 

[Scupra]

Not to mention some people have multiple good old tradelines that come into play