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Established Member
Posts: 74
Registered: ‎07-10-2012

bankruptcy rumor

I had heard a BK rumor long ago. It was explained to me that your credit score is compared with everyone elses's while a credit report with a BK is scored on sort of a tiered scale. Your score with a BK is only based/compared with those with a BK?
Regular Contributor
Posts: 205
Registered: ‎08-29-2007

Re: bankruptcy rumor

True. That is why SOME people after the BK has been removed from the CR see their scores go down becuase they are "rebucketed". But if you follow the advice here, you should be fine, if not better off because you will not have any debt or a BK holding you back.

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

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New Contributor
Posts: 57
Registered: ‎03-31-2012

Re: bankruptcy rumor

My BK is due to fall off this month (filed in Nov 2002).  On my report are a few credit cards (less than $10K between all of them) and one auto loan.  Had other auto loans previously but now paid off.  "Bads" are ONE 30 day late 4 years ago on an old auto loan, and the cards I do have are at high util.  But always paid on time.  Truly hoping my score will go UP!  Holding off applying for an auto loan - time for another car - until it falls off.  I hope I will get an alert in the next week or so with the new score.

Regular Contributor
Posts: 230
Registered: ‎09-22-2012

Re: bankruptcy rumor

If it was in Nov 02, you can dispute for removal now. TU will remove a month or two early, the others the same month. Why wait? 

Starting Score: EQ 416 TU 498 EX 468 Lender Fico's July 2012
Current Score: EQ 674 TU 679 Ex 686 EX
Goal Score: For now: 640s

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