FICO jumped ~60 points after ch7 bk fell off

[eharley0142]

After 10 years, my chapter 7 bankruptcy finall fell off all three credit reports. Earlier this year, my scores were:

EQ: 707

TU: 706

After the bankruptcy fell off and no other changes except for a declining balance and increased average age of accounts:

EQ: 785 (+78)

TU: 753 (+47)

I haven't pulled Experian yet, but when I applied for a mortgage two years ago, the lender provided score with the bankruptcy reporting was 721.

I alreday have a great rate on my mortgage, and my car loan. The only thing that I'm looking at is getting a rewards credit with a decent balance. Time to say goodbye to the Orchard Bank (now Capital One) card with the $450 credit limit and 24.99% APR.

[azguy13]

Thats fantastic! 10 years is a long time and I'm sure that BK7 was the last of the evidence of that time. 

Congrats!

[eharley0142]

So long. And yeah, all the bad stuff had long fallen away.

If I ever have to get another car loan, I don't have to get the "So I see you had a rough patch there..."

[azguy13]

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@eharley0142 wrote:

So long. And yeah, all the bad stuff had long fallen away.

If I ever have to get another car loan, I don't have to get the "So I see you had a rough patch there..."

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I got that after I had an auto loan CO in 2005. It actually really angered me because it was none of their business. I got it from the salesman who showed me the printout of my CR. Needless to say I went somewhere else. 

[Anonymous]

Savor the moment! Working your way through 10 years of hell is hard. Been there and don'it. Felt great getting pre-approved offers from prime lenders after the big BK7 left my profile. Even some of the lendors I had included in the BK gave me prime credit. You have moved out of the FICO Scoring BK bucket and joined the great credit masses now. It must really feel great! Best wishes.

[azguy13]

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@Anonymous wrote:
Savor the moment! Working your way through 10 years of hell is hard. Been there and don'it. Felt great getting pre-approved offers from prime lenders after the big BK7 left my profile. Even some of the lendors I had included in the BK gave me prime credit. You have moved out of the FICO Scoring BK bucket and joined the great credit masses now. It must really feel great! Best wishes.

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Congrats to you as well Wanderer!

Just getting through 10 years of that and maintaining is a sign that you are much less of a risk than many others that never filed BK7. 

[pizza1]

Wow !! That's great!! Congrats to you!! My journey has just started I have 9 yrs and 11 months before Mine falls off!! Savor the moment and keep us posted please in the new cards you're getting!! Don't leave the forums just yet! Lol

[jk26978]

So happy for you, I can only imagine the feeling - the relief

K

[ultimatefighter]

Thanks for sharing your experience!

That's great to hear! I'm "only" 2 years away so now I know what I can look forward to. To be honest, it was getting a little frustrating because I believe I'm about as high as I can get without the BK coming off. I pay my balances in full, never been late or similar since my discharge, etc. I could probably keep my use lower and that may gain me a few points but probably not 10 or 20 right and I like getting my rewards. Maybe I'll request some CL increases or just apply for more credit cards so my usage to CL will be lower.

Anyways, thanks again for the info!