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My Fico Jumped 521-650 after filing BK?

Established Member

My Fico Jumped 521-650 after filing BK?

I am a little bit confused.  I filed for C7 BK on 2-5-13 with a Fico score of 521 and 27 collection accounts.  Now all 27 collection accounts are gone from my most recent 03-03-13 CR.  It now shows two old credit cards IIB and a paid in full student loan.  Nothing else is on there.  My score went from the 521 to 650 in one month.  Is this normal?  Are the creditors that used to be listed just gone for good or do they come back as IIB after the discharge in a few months?  If anyone has any knowledge on this please help me out...

Message 1 of 12
11 REPLIES
Community Leader
Senior Contributor

Re: My Fico Jumped 521-650 after filing BK?


Abanomi24 wrote:

I am a little bit confused.  I filed for C7 BK on 2-5-13 with a Fico score of 521 and 27 collection accounts.  Now all 27 collection accounts are gone from my most recent 03-03-13 CR.  It now shows two old credit cards IIB and a paid in full student loan.  Nothing else is on there.  My score went from the 521 to 650 in one month.  Is this normal?  Are the creditors that used to be listed just gone for good or do they come back as IIB after the discharge in a few months?  If anyone has any knowledge on this please help me out...


Thank the heavens and hope it stays that way! Congrats

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 2 of 12
Regular Contributor

Re: My Fico Jumped 521-650 after filing BK?

Normal score bump but you got a LOT of extras! Congrats!


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


Take the FICO Fitness Challenge
Message 3 of 12
Established Contributor

Re: My Fico Jumped 521-650 after filing BK?

Just want to add a caution. If that is only one report you are looking at, the other two won't necessarily be the same. I had the same thing happen on my EQ report after I filed. I'm thrilled about that, my EQ score at one point was near 700. At the same time, EX and TU were low 500's. After your discharge, be sure to get your full reports from all 3 CR's. I waited about 30 days after discharge to give everything a chance to report. Now I'm in the cleanup mode trying to get my TU and EX reports where they should be.

 

Don't mean to rain on your new joy, I just think it helps to be prepared so you won't go into shock later.

 

And congratulations on your fresh start!

Message 4 of 12
Established Member

Re: My Fico Jumped 521-650 after filing BK?

Thank you for the advice, much appreciated!  My 341 meeting is tomorrow morning and then hopefully on to a new financial life...

Message 5 of 12
New Member

Re: My Fico Jumped 521-650 after filing BK?

Your score jumped because your debt to income ratio decreased.  In short, you eliminated your debt by filing Chapter 7 and now you have more disposable income.

Message 6 of 12
Community Leader
Senior Contributor

Re: My Fico Jumped 521-650 after filing BK?


armyranger44 wrote:

Your score jumped because your debt to income ratio decreased.  In short, you eliminated your debt by filing Chapter 7 and now you have more disposable income.


He also had 27 accounts magically go away rather than report iibk haha! Over 100pts is quite drastic. 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 7 of 12
Established Member

Re: My Fico Jumped 521-650 after filing BK?

That's kind of where I am confused.  All of the 27 accounts were medical collections.  They all disappeared within this past month since I filed.  Other than that, I only have the two CC's now IIB (they had small balances) and a bad bank account I had overdrawn.  I guess since I really didn't have any revolving debt it must have helped me out?  Really, I am not sure exactly.  I had my 341 meeting today and it went just like I have read on here.  Nothing to worry about with the Trustee just having me confirm everything I had put in my papers.  Here is hoping this is painless in the future...

Message 8 of 12
Established Contributor

Re: My Fico Jumped 521-650 after filing BK?

All my collections (except 1) disappeared after filing as well, mine were not medical though.

Message 9 of 12
Moderator Emeritus

Re: My Fico Jumped 521-650 after filing BK?

Congrats!  Now it's time to start healing and growing!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 10 of 12