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Valued Member
Posts: 45
Registered: ‎07-05-2007
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Bankruptcy, Student Loans and FICO score

Hello all.. I am currently trying to get my credit fixed.. I have all of my bills being paid on time now.. I don't really have that much debt that can be paid down other than student loans.  I have one credit card with a $300 limit.. I charge on it sometimes but always pay it off every month.  I also have another credit card to a clothing store with a $300 limit, that I charge on sometimes but pay off.  Other than that I have one small loan of $318 which is being paid. I have an auto loan of $15k, which I pay monthly on time, and then I have student loans.  I have 2 government loans, totally $6k, and a Sallie Mae loan for $5k.  When I first started school I was not aware that these loans showed up on my credit report.  I'm not even fiinished school yet. By the time I get done I should have another $20k in loans.  Do these loans hurting my credit badly?
Another issue I have is bankruptcy.  It was discharged in January of 2000, how much does that raise my score when it gets taken off in 10 years?
Something else I have a question about is collection items.  I have about 4 being listed on my credit report that are all paid.  Does this hurt my score?  
I'm trying to do whatever I can to fix my credit as I'm hoping to buy a house soon, and I would just like to be able to buy things without cosigners, etc. 
Thanks for any help. 

Starting Score: 1/24/12 - EQ 550
Current Score: 6/26/13 - EQ 710, TU 686
Goal Score: 750+

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Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
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Re: Bankruptcy, Student Loans and FICO score

Loans and other credit items that are current help, period. CC util is ideal at 1-9 percent. See the Scoring 101 thread.
BK hurts less over time. At 7+ years, BK probably ain't hurting much--other than likely preventing one from getting an AMEX CC.
COLLs hurt, period. Paid or unpaid. If they are paid, try GW.

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