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What is your post Chap 7 BK Fico?

Valued Member

Re: What is your post Chap 7 BK Fico?

Hello Everyone! It's been a while but had to come back and report out as I promised I would.

 

Today is November 21, 2012 and I filed October 15, 2005. It's the first real "magic" time in this recovery process ... it's been 7 years since I filed and I want to let everyone know that all my delinquent accounts, late payments, the including in BK accounts are all GONE!!! At this moment all the accounts that show up on my Trans Union and Equifax reports are current and ALL in good standing accounts. I have none of those red negative indicator flags! Yay!!

 

BTW ... that should also answer the question that often comes up if the time starts from file date or discharge date ... it's the file date which is good because that's the earlier date. For me, my file date was 4 months before the discharge!

 

Now the big question ... what kind of bump did this produce on my FICO scores once all those accounts fell off? Well here are my scores in September of 2011 and here they are today ... TransUnion 697 ---> 722 (25 points) ... Equifax 704 --->719 (15 points). Not overwhelming BUT the reality is, I've worked real hard and been real good with my credit since BK that my scores were pretty high even a year ago right!? So I've done nothing different this year and yet my scores took a nice little jump! I'm happy. The better perspective might be that in April of 2007 my TU score was 615 and now it's 722 (105 points)! My Equifax 660 and now it's 719 (59 points)!

 

So everyone, keep your head up, be diligent with your credit and it takes time but you can be back well above 700! I'm certain today I could probably get approved for almost any credit card out there. I'm gardening but I did venture and indulge myself in a Travelocity AMEX card last December and I was so thrilled to get instantly approved with a 4K CL!! I'm thinking I'll treat myself to maybe one application/venture this holiday season. Any suggestions?? I need a good VISA! Seriously, please let me know!

 

Now I look forward to 3 more years and then the BK even comes off. That will be a glorious day! Can't wait!


Current Score: EQUIFAX 706
Current Score: EXPERIAN 712
Current Score: TRANS UNION 722
BK in 10/2005


Message 71 of 113
Established Member

Re: What is your post Chap 7 BK Fico?

Disharged 7/2012

FICO: 568

 

Accepted pre-qualified offer from Capital One and was approved for $500 CL. Think it was because I held a secured card from them pre-BK with $1200CL and was never late on payments for 14months. Was was of the ONLY good accounts I had so I was suprised I was approved. Kinda new to all this credit stuff but me and hubby trying to rebuild for a house in 3-4 years.


Starting Score: Post BK 6/20/12 (434); 11/20/12 TU:530 EX:531 EQ:534 (Lender Pull)
Current Score: 6/30/13: TU:620 EX:591 EQ: ??Moving Up!
Goal Score: 700 & Mortgage Ready
Gardening! Last App: 6/13 No Apps till 6/14 (Mortgage I hope)
Wallet: Cap One Plat $750, Rewards $500,Spark $500, Finger $350, First Premier $300, Matrix $300, Bill Me Later $250
Message 72 of 113
Frequent Contributor

Re: What is your post Chap 7 BK Fico?

"BTW ... that should also answer the question that often comes up if the time starts from file date or discharge date ... it's the file date which is good because that's the earlier date. For me, my file date was 4 months before the discharge!"

 

Actually, the time starts from the DoFD. For me, some of the accounts included will fall off in 2 years And I'm not close to 7 years at all. 


Starting Score: 501
Current Score: 754 EQ,TU 745,EX 750
Goal Score: 800

Message 73 of 113
Valued Member

Re: What is your post Chap 7 BK Fico?

"Actually, the time starts from the DoFD. For me, some of the accounts included will fall off in 2 years And I'm not close to 7 years at all."

 

YES! It is the date of the first delinquency! However as I noted, for ALL my accounts to come off it took the 7 years from the date of file. As you mentioned "some" delinquencies certainly could come off earlier than 7 years but I'm sure most of us filers had a couple that ran with the actual discharge. (Hopefully one wasn't delinquent for 12 months or too long before finally filing!)

 

Actually you'll see I waited 7 years and 1 month from my file date to really get that great rush of seeing EVERY delinquency gone from my credit report!! It would have been torture and unfinished business to see maybe 6 gone and 4 still on, etc. Smiley Wink

 

Now it's "just" 2 years and 11 months to go!! I'll be counting down the days! Now let me go get a nice Visa Signature card! Smiley Happy  


Current Score: EQUIFAX 706
Current Score: EXPERIAN 712
Current Score: TRANS UNION 722
BK in 10/2005


Message 74 of 113
New Contributor

Re: What is your post Chap 7 BK Fico?

4 months post BK Chpt 7 625 FICO

Starting Score: 467
Current Score: 661
Goal Score: 795


Take the FICO Fitness Challenge

Post BK Wallet: Target VISA $10,000 (AU) | NFCU Credit Card $5,000| Walmart $1100| Cap One Platinum $3000 | Amazon $1150 | Discover It Card $500 | Cap One Secured $500 | PayPal Smart Connect $500 | Lane Bryant $1130| Dressbarn $750 |NY & Company $250| Victoria's Secret $250 | Target Store Charge $200 |Capital One Auto Finance
Message 75 of 113
Established Contributor

Re: What is your post Chap 7 BK Fico?


ultimatefighter wrote:

"Actually, the time starts from the DoFD. For me, some of the accounts included will fall off in 2 years And I'm not close to 7 years at all."

 

YES! It is the date of the first delinquency! However as I noted, for ALL my accounts to come off it took the 7 years from the date of file. As you mentioned "some" delinquencies certainly could come off earlier than 7 years but I'm sure most of us filers had a couple that ran with the actual discharge. (Hopefully one wasn't delinquent for 12 months or too long before finally filing!)

 



I was deliquent for about thre years before I filed. I only had one account that went deliquent with the BK. My report is mostly clean, except for the BK and that one account, which comes off in 2015.......aarrrgh....feels like forever.....


BK in January 2008---Barclay's Apple Financing Card ($10,000) --- Capital One Quicksilver ($13,000)--- Platinum Delta Skymiles ($29,500) --- GEMB CareCredit ($10,000) --- AUFCU ($10000)---Discover IT ($28,000)

Experian 746 Transunion 806-- July 2017
Message 76 of 113
Valued Contributor

Re: What is your post Chap 7 BK Fico?

In my signature

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
Take the FICO Fitness Challenge
Message 77 of 113
Established Member

Re: What is your post Chap 7 BK Fico?

4 months post BK: d/c 7/24/2012

 

TU98 - 600

EQ - 605

EX (PSECU FICO) - 625

Auto-Enhanced TU - 650 (10/26/12 pull)

 

What's odd is that EX has the most delinquent info and IIB accounts, as well as the most INQs and is the highest score.

Filed BK 7: 2/28/2012 | Discharged: 7/24/2012
POST BK APPROVALS:
NFCU nRewards Secured Visa: $1000 7/12| Apple FCU Secured Visa: $1000 9/12
Toyota Finance Lease: 0% | 0.0008 MF 10/12
Barclay Apple Finance Visa: $2200 1/13
NFCU cashRewards Visa: $2500 3/13

Message 78 of 113
Community Leader
Senior Contributor

Re: What is your post Chap 7 BK Fico?

BK discharged in 10/24/2012 (start score was 560)

 

TU FICO: 595

EQ FICO: 643

 

Both scores are as of 12/2012

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 79 of 113
Highlighted
Established Contributor

Re: What is your post Chap 7 BK Fico?

Here is my update:

 

Lost job in July 2008.  I tried to keep up with the CCs and SL until Jan 2009.  Then I just stopped paying everything.  Let it ride and ignored all the phone calls.  I was employed at 60% of my former wages in July 2010.  I called all creditors and offered to pay $20.  Everyone refused.  Discover was the most aggressive,  They called at times that were very close to the limits per FDCA.  They sent flunkies to my house too.  I told them that I would pay 20 per month and faxed them a pay stub.  They did not care and filed a lawsuit Jan 2011 and froze my accounts.

 

The State filed a lein as well.  This kinda sucked because I was in contact with them and they wanted a large amount of money.  After BK 7 they took a payment plan.

 

I filed BK 7 Jan 31, 2011.  My account was unfrozed so I could have some cash.  Discharge was Jun 2011.  My score in Nov 2011 was 560.  I was co-signer for my daughters student loan and she kept paying it.  So my score climbed quickly.  I apped for Cap1 for $500 CL in July 2011.  So I had SL and CC reporting.  I also took another job making 90% of my original pay while whiping out 100K in CC debt and a 95K second home mortgage that was underwater by 50K.  So I wrote off 150K in debt.  The foreclosure DOES NOT report because I live in a State that does not use Judicial Foreclosue.  It uses Sheriffs sale where it it published in the newspaper so there is no court documents.  I lucked out I know.  However Freddie knows about it and I cannot build a second summer house until Foreclosure is 3 years.  FHA is thinking of dropping that requirement this year so we will see.

 

My scores steadily increased and now sit at 677 EQ and TU.  Both reports are identical and have been tracking each other for 2 years.  EQ had the date of my lein wrong so I challenged it.  They did NOT update my file and I forgot about it.  I went online to check a second dispute and saw the Lein dispute was 4 months old.  I worte them to delete the lein and they did.  Score only went up 9 points.  EQ has a few more inquires so the 9 point gain equaled TU.

 

I rehabbed 3 SL plus my daughters equals 4 SL total.  My wife and I have 10K combined CC limit.  We carry less than 10%.  I also have a car loan.  Thank God I did not put my electric bill in the BK7,  It is reporting 25 years open.  I had this account when we first got married and carried it with us as we upgraded our houses.  My AAoA is 9 years.

 

So I am under 10% CC ultilztion, I have 22 years as oldest account and 9 AAOA, I have 8 accounts reporting good.  SL for 7 years, CC for 1.5 years, car for 1 year, another CC for 1 year.

 

I am a few week way from the 2 year filing date.  i wonder what will happen? I am expecting a rebucket and possible drop.  The FICO simulator says I should be above 700 in 6 months.

F'08 APR16: EQ714, EX675, TU679; Clean since BK7 D/C 6/2011
Message 80 of 113