Score drops as accounts start to show Zero and IIB

[Anonymous]

I recently filed Ch. 7 on 2/13/15. Is it normal for a fico score to drop after accounts start to show a zero balance and a status of Ch 7 Bankruptcy Petition. Two old accounts ( Ford Motor Credit, and Verizon) made my score drop by 10 points. 

[Scupra]

---

@Anonymous wrote:

I recently filed Ch. 7 on 2/13/15. Is it normal for a fico score to drop after accounts start to show a zero balance and a status of Ch 7 Bankruptcy Petition. Two old accounts ( Ford Motor Credit, and Verizon) made my score drop by 10 points. 

---

It can go up, down, down more, up again, down more... Your score doesn't matter right now. What's important is making a clean, healthy, thick credit profile and I promise your score will follow.

[Anonymous]

Lol... Thank you for such a quick response. This forum has been a big help. I plan to follow the From BK7 discharge to 700 in 24 months to help guide me. 

[Scupra]

---

@Anonymous wrote:

Lol... Thank you for such a quick response. This forum has been a big help. I plan to follow the From BK7 discharge to 700 in 24 months to help guide me. 

---

No worries! That is a very good place to start and has worked for a lot of us. Start cleaning your reports now to get a slight jump on things. Good luck! 

[TRC_WA]

Yeah... your scores should be the least of your concerns right now.

[Anonymous]

My credit score droppe 98 points when we switched from chapter 13 to chapter 7. We had an auto loan that showed that it was closed along with home. We have our 341 meeting next week and going to reaffirm the car and hopefully it'll repost our on time payments which will increase our credit score.