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New Member
Posts: 5
Registered: ‎08-24-2013
0

Just filed ch 7. How am I going to fix my situation?

Hello everybody!  I have just filed a ch 7 bankruptcy this month and my credit is SO low right now (436).  I feel like it is never going to get any better.  I have been reading other posts about steps to take and things like that to improve but I haven't found anyone with a starting fico as low as mine.  I feel like a lost cause.  Is it possible to come back from this?  Does the usual advice apply?  Any advice would be greatly appreciated.  Thanks!

Contributor
Posts: 92
Registered: ‎07-10-2013
0

Re: Just filed ch 7. How am I going to fix my situation?

I am pretty much in the same boat my score was in the 400's as well when I started but I am not discharged yet and according to score watch it has gone up to 523 and I am not even discharged yet.  So I think with time and patients and hard work it will go up.  I keep telling myself that it didn't take a day for my score to get the way it was so it certainly isn't going to take a day to fix it as much as I would like it to LOL :smileyhappy: Good Luck

Frequent Contributor
Posts: 470
Registered: ‎02-14-2013
0

Re: Just filed ch 7. How am I going to fix my situation?

Just wanted to offer some encouragement. It's not unusual for your scores to tank after filing BK. Mine were so low, I couldn't generate any fako scores for two months. YMMV, but your scores should go up about a month after discharge if all your accounts are reporting correctly. Some start the cleanup right away, I waited about a month and a half then ordered my full credit reports, and started disputing any accounts not reporting correctly. My scores went to the low 600's quickly, and after adding some positive accounts, nine months out are now in the mid-600's.
It's good that you are reading so much now. Be sure and read Soulmaster's post.
http://ficoforums.myfico.com/t5/Bankruptcy/UPDATED-HOW-TO-From-BK7-discharge-to-700-in-24-months-or-...
New Member
Posts: 5
Registered: ‎08-24-2013
0

Re: Just filed ch 7. How am I going to fix my situation?

Thanks for the replies!  Before I filed I thought bottom was around 500 or so and I was really shocked to see that 436.  Is it worthwhile to start disputing now or should I wait for discharge?   My creditor meeting is mid september and I was told that I should be discharged the end of november.  I am trying to tell myself nothing happens overnight but it is hard. I will need to get a car shortly after discharge since I am surrendering mine.  My income is decent and I have a paid off car on my record so I hope I don't end up with a terrible auto loan.

Frequent Contributor
Posts: 402
Registered: ‎11-03-2012
0

Re: Just filed ch 7. How am I going to fix my situation?

Dont worry about it JanelleOH. Your score at this moment is not real and certainly should be ignored entirely. In fact, your primary concern should be checking PACER like a mad person to see when your discharge is final. At that point give a few days, pull all three reports and look for wrong reporting, duplicates, balance errors etc. Make sure everything is reporting correctly and dispute what isnt. Once this process is complete, this is the only time I would even consider looking at your score for the first time right before you apply for your first rebuilder. 

 

 


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

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