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Regular Contributor
Tpelc23
Posts: 236
Registered: ‎08-16-2010

will my score increase when my BK falls off in June 2012

subject says it all. Thankd
2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUB:smileyhappy:
Established Contributor
aussiesareforever
Posts: 737
Registered: ‎10-04-2010

Re: will my score increase when my BK falls off in June 2012


Tpelc23 wrote:
subject says it all. Thankd

I would expect an increase. Likely a pretty decent increase. Congratulations on almost having that dark stain removed!

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)

Regular Contributor
Tpelc23
Posts: 236
Registered: ‎08-16-2010

Re: will my score increase when my BK falls off in June 2012

Thanks
2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUB:smileyhappy:
Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: will my score increase when my BK falls off in June 2012

My TU score gained 75 points when my CH 13 BK aged off; going from 716 to 791.  Happy days!!!

Just puttin' syrup on something, don't make it pancakes.
Regular Contributor
Tpelc23
Posts: 236
Registered: ‎08-16-2010

Re: will my score increase when my BK falls off in June 2012

oh that is great!
2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUB:smileyhappy:
Established Contributor
SoulMaster
Posts: 976
Registered: ‎11-08-2011

Re: will my score increase when my BK falls off in June 2012

From what I've been reading on these forums, you should expect a 60-90 pt jump. The caveat seems to be that the BK needs to be the only Public Record listed.  If there's another one (like a Tax Lein), you won't see the huge bump until the last one falls off.

 

YMMV,

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 8/2/13: EX 710, EQ 691, TU 709, all 3 LP for a Mortgage (TriMerge Report)
Goal Score: 700+ FICO across the board w/ my BK still on there (until 8/2020) - I think they're all already there... haven't had a bank pull a trimerge in quite a while.
Established Member
rebuildcc
Posts: 31
Registered: ‎10-30-2010

Re: will my score increase when my BK falls off in June 2012

When did you have your BK filed, if you don't mind I ask? Mine was filed in Oct 2005 and was discharged in Jan 2006. I filed before the new BK law changes, so am I expecting that it will be dropped off my CR around Oct 2012 or Oct 2013? or stopped negative impacting my score at that time or it has to be 10 years from file date = 2015? Confuse ... !

Established Contributor
aussiesareforever
Posts: 737
Registered: ‎10-04-2010

Re: will my score increase when my BK falls off in June 2012


rebuildcc wrote:

When did you have your BK filed, if you don't mind I ask? Mine was filed in Oct 2005 and was discharged in Jan 2006. I filed before the new BK law changes, so am I expecting that it will be dropped off my CR around Oct 2012 or Oct 2013? or stopped negative impacting my score at that time or it has to be 10 years from file date = 2015? Confuse ... !



rebuildcc wrote:

When did you have your BK filed, if you don't mind I ask? Mine was filed in Oct 2005 and was discharged in Jan 2006. I filed before the new BK law changes, so am I expecting that it will be dropped off my CR around Oct 2012 or Oct 2013? or stopped negative impacting my score at that time or it has to be 10 years from file date = 2015? Confuse ... !


Did you file a Chapter 7 or Chapter 13. Generally a chapter 7 will stay on for 10 years and a chapter 13 will stay on for about seven years.

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)

Established Member
rebuildcc
Posts: 31
Registered: ‎10-30-2010

Re: will my score increase when my BK falls off in June 2012

In fact, I filed in Sept 2005, and it was discharged in Jan 2006.

 

So in my case, baddies will be off my CR after Sept 2012 counting from filed date or DOFD; and my BK will stay until 2015 or off my CR after Sept 2015?

Established Contributor
aussiesareforever
Posts: 737
Registered: ‎10-04-2010

Re: will my score increase when my BK falls off in June 2012


rebuildcc wrote:

In fact, I filed in Sept 2005, and it was discharged in Jan 2006.

 

So in my case, baddies will be off my CR after Sept 2012 counting from filed date or DOFD; and my BK will stay until 2015 or off my CR after Sept 2015?


I'm assuming you filed a chapter 7. Yes, your badies will fall off about 7-7.5 years after your DOFD. Logic says that most of them should fall off this year or early 2013, depending on when your DOFD was.

 

The BK will stay on until 2016, ten years from your discharge. Many people have reported that their BK came off a few months early. On my TU credit report, my BK is scheduled to come off about 5 months early but who knows if that will change when the day comes closer.

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)


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