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kendalsgirl1130
Posts: 1
Registered: ‎09-05-2010
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Score increase after bankruptcy removal

I filed BK (Chap 13) in 11/2000 that was ultimately dismissed. The BK has already dropped off TU & EX. I have tried EVERYTHING to get EQ to remove but that wasn't happening and after researching further I discovered EQ keeps dismissed bankruptices on a file for 10 yrs. 

 

So FINALLY  after 10 long years it will be coming off 11/2010. :smileyhappy:

 

I'm estatic about this because it is my only real "baddie". I'm keeping my fingers crossed for a nice (score) increase once it falls off.  Does anyone know how much of a FICO score jump one can expect once a BK drops off.  Thanks in advance!

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chasmith
Posts: 1,062
Registered: ‎05-26-2010
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Re: Score increase after bankruptcy removal

I wouldn't look for a big score increase.  There's a big hit when you file but that has aged over the years and is probably having a minimal effect on your score.  Now some creditors will have a separate rule that holds the BK against you as long as it's on your report and that behavior willk go away, but the score bump will be tiny, IMHO.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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beamMEup
Posts: 4,470
Registered: ‎12-31-2008
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Re: Score increase after bankruptcy removal


kendalsgirl1130 wrote:

I filed BK (Chap 13) in 11/2000 that was ultimately dismissed. The BK has already dropped off TU & EX. I have tried EVERYTHING to get EQ to remove but that wasn't happening and after researching further I discovered EQ keeps dismissed bankruptices on a file for 10 yrs. 

 

So FINALLY  after 10 long years it will be coming off 11/2010. :smileyhappy:

 

I'm estatic about this because it is my only real "baddie". I'm keeping my fingers crossed for a nice (score) increase once it falls off.  Does anyone know how much of a FICO score jump one can expect once a BK drops off.  Thanks in advance!


Hi kendalsgirl,

 

Well, it depends on what you've been doing to rebuild your credit, amongst other things.

What is your current TU FICO and your current EQ FICO?

All other things being similar, that may give you something of a hint, at least in a broad range.

And when 11/10 comes around and you see the difference in your FICO score (other scores really don't count on this one particularly) come back to this post and update is.  Everyone likes to hear good news.

 

Remember, though, that this is yet one more area where YMMV.  It really has a lot to do with what actions you've taken in rebuilding.

 

Best wishes!  And congrats on getting that BK (almost) behind you!

Just puttin' syrup on something, don't make it pancakes.

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