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Question about accounts in BK

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Officer737
Established Contributor

Question about accounts in BK

I filed my Chapter 7 yesterday and have my 341 meeting 2/10/14. I had to list all of my debt in my BK. about half of them were to age off within the next 24 months. Does the BK reset their fall off dates to match the date with the BK or do they stay with their original fall off dates? 

 

I have aver some trade lines that are in good standings. My car I have had for 15 months with no late pays. I have 2 secured cards with no balances andno late pays and was told it would be up the card company to decide if I get to keep them and my student loans are current. Anything else I can do to help myself improve my score?

Message 1 of 13
12 REPLIES 12
ezdriver
Senior Contributor

Re: Question about accounts in BK

You are jumping the gun. Wait until your discharge is issued then wait a week or two before you pull all three credit reports. We'll talk then.

Message 2 of 13
Officer737
Established Contributor

Re: Question about accounts in BK

Thanks for the reply. Yea I plan to do that, was just trying to get an idea of what a good game plan might be. My big question is the aged accounts and if the BK resets their aged date

Message 3 of 13
ezdriver
Senior Contributor

Re: Question about accounts in BK

I had my ch7 discharge in 04/13 and my credit is fully recovered and now I'm gardening. While waiting for your dicharge, there are several threads on this forum that lay out in detail how to establish new credit and how to manage that new credit to maximize fico scores.

Message 4 of 13
Officer737
Established Contributor

Re: Question about accounts in BK

Great advice! I have been combing the board for the past couple of weeks and found an abundance of information to help along with the away.

Message 5 of 13
Scupra
Super Contributor

Re: Question about accounts in BK

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

 

Alllllll the answers and information you need haha 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k 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 | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 6 of 13
grassfeeder
Frequent Contributor

Re: Question about accounts in BK


@Scupra wrote:

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

 

Alllllll the answers and information you need haha 


Can we just get that thread as a sticky and mandatory reading already?

Fico 8 Scores 5/1/22 :
799 EQ | 793 TU | 809 EX
Message 7 of 13
Officer737
Established Contributor

Re: Question about accounts in BK

Funny you should mention that thread, it's one of the first ones I read when I started looking at this forum LOL. Still trying to figure the answer to my first question though.

Message 8 of 13
0REDSOX7
Valued Contributor

Re: Question about accounts in BK

Officer737,

 

With regards to your first question, I just went and checked my credit reports and for the accounds listed as IIB, the clock did not "reset" for them.  It appears to be based off of either DoLA or DoFD, but the filing definately did not reset the 10 year mark...

 

Hope that helps!

BK Discharge 2/11/14

Currently in the garden.
Message 9 of 13
Scupra
Super Contributor

Re: Question about accounts in BK


@0REDSOX7 wrote:

Officer737,

 

With regards to your first question, I just went and checked my credit reports and for the accounds listed as IIB, the clock did not "reset" for them.  It appears to be based off of either DoLA or DoFD, but the filing definately did not reset the 10 year mark...

 

Hope that helps!


Just like REDSOX said, filing does not start the 7yrs over. It will still age off your reports based of DoFD

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k 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 | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 10 of 13
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