Discharged a few weeks ago - scores 630+

[Anonymous]

This is my first post to the forum, what an amazing wealth of information.

I filed in October 2014, and received my discharge papers a few weeks ago.  I was surprised when my credit scores did not drop as much as I expected them to.  EX 645, EQ 633, TU 630.  After reading many posts on here, I expected my scores to drop well into the 500s.  Are starting scores after BK7 around 630+ typical?  I did have a good credit history prior to filing with my only real bad area being my debt-to-income ratio.

[StartingOver10]

Where did you get your scores?

[Anonymous]

Equifax.com - ordered my FICO score for all 3 bureaus.

[StartingOver10]

Only the score power score is a FICO score. The other scores that Equifax sells are for consumer education only and they are not FICO scores, they are called Equifax Credit Scores.  This is the written disclaimer directly from the Equifax website on page one where you order the reports and scores (below):

2 The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau credit scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income

The lenders do not use the Equifax Credit Score model. These scores are revenue generators for Equifax and each CRA has their own scores they sell. We call those scores FAKO here because no lender uses these scores to analyze you for a loan.

You can get actual FICO scores here   Check the link to "Products" at the top of the page here on MyFICO. If you want one time scores (to see almost all your score types - not just FICO 08) check out the 3B report.

[TRC_WA]

I actually did have 630-640 FICO scores across the 3 CRAs at discharge... but I filed Ch 13 and wasn't discharged until 4 years after my filing date. 

I maintained a car payment outside of the Ch 13 plan which reported as normal.  I had no CC's.

My reports will be free and clear of IIB accounts and the public record in the next 8-12 months (assuming early deletion prior to 7 years from filing which is April 2016) and I expect a bump well into the 700's...

My scores were in the 500's at filing which is the norm.

[0REDSOX7]

I was 625 average across all three five days post discharge - and those were all FICO scores.

I did a Ch. 7 and worked hard to clean up reports prior to discharge since I knew I would need auto loans.

[Anonymous]

Just ordered my FICO 8 for Equifax from myFICO, and it's 622, so not hugely different than what Equifax gave me from their score method.

I'll take it immediately post discharge.

Thank you for the help in understanding the difference.

[Anonymous]

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@Anonymous wrote:

Just ordered my FICO 8 for Equifax from myFICO, and it's 622, so not hugely different than what Equifax gave me from their score method.

I'll take it immediately post discharge.

Thank you for the help in understanding the difference.

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Welcome to the forum...

[pizza1]

welcome to the forum....

my scores were all mid 400's at discharge. I was also delinquent for a whole year prior to filing on all CC, but not car loan, so it took me awhile to get my scores up to the low 600's.

give it time, and it will happen

[TRC_WA]

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@pizza1 wrote:
welcome to the forum....

my scores were all mid 400's at discharge. I was also delinquent for a whole year prior to filing on all CC, but not car loan, so it took me awhile to get my scores up to the low 600's.

give it time, and it will happen

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... and now you have $100k in available credit with 650 scores 18 months out of a Ch 7 discharge on an $1800 monthly budget as you listed in your 9 page Venture thread.

A year delinquent too eh?  You must have blind creditors.

Very impressive rebuild.  We should all be taking notes from you. 

BTW, I don't doubt you at all... I've seen your list of cards in a recent thread.  You've got some impressive store card limits in addition to NFCU.  I am just shocked that someone with your scores and recent BK waas approved for the accounts you listed.  Obviously your $1200 Sallie Mae and $800 Discover aren't nearly as blind as some of your other creditors. 

The credit system makes no sense.