Can you get a 760 credit score with a bankruptcy?

[CreditGuy03]

Is it possible to get a high credit score with less than 3 years out of a bankruptcy, foreclosure or short sale or are you in that particular bucket for a while? 

[EW800]

I am really looking forward to seeing the answer to this.  In my case, I had a foreclosure that finalized about 14 months ago.  We were below 550 when that happend.  Since then, I have brought UTIL down and made sure everthing else is paid on time.  I have been able to get my scores up to very close to 700 (TU FICO 08 is showing 710 and Discover is showing 703) in just these 14 months.  This was a much quicker rebound than I ever anticipated.  I am not sure how much higher I can get it without more time going by, but hopefully each month that goes by it will be less painful.  I am really hoping to get to 720-725 range in the next year or so, but not sure how realistic that is with the foreclosure being as recent as it is.  

[Revelate]

I'm not certain; if CribDuchess checks here she might be able to shed some light on that, and there's a few other high achievers that have had blemishs on the past when it comes to FICO '08.

I'm 99% confident it's impossible on FICO '04 and older, but it might be feasible on FICO '08 with how it appears to focus on more recent history.

That said within 3 years?  No chance.  7-9 maybe.

[wHiTeSoL]

I believe I've seen gdale6 say with a BK on TU they can only max out at 714 or 723 or something around that area. 

[user5387]

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@CreditGuy03 wrote:

Is it possible to get a high credit score with less than 3 years out of a bankruptcy, foreclosure or short sale or are you in that particular bucket for a while? 

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If you do this Google search:

   site:myfico.com maximum score bankruptcy

you will find some interesting material.

[user5387]

One way of coming at this is to ask what the maximum score is you can achieve WITHOUT a major derogatory.

For many people, this is much less than 850, because of short account age, thin files, high utililzation, lots of inquiries and new accounts, and so on.

Obviously BK is a big deal, but it might be worth establishing a threshold value first.

[gdale6]

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@wHiTeSoL wrote:

I believe I've seen gdale6 say with a BK on TU they can only max out at 714 or 723 or something around that area. 

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I have said that in my case I have been range bound on TU 712-723 for several yrs while the other 2 have soared as there is no BK reported on the other 2.

[Revelate]

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@gdale6 wrote:

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@wHiTeSoL wrote:

I believe I've seen gdale6 say with a BK on TU they can only max out at 714 or 723 or something around that area. 

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I have said that in my case I have been range bound on TU 712-723 for several yrs while the other 2 have soared as there is no BK reported on the other 2.

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Which FICO version are you tracking for that gdale?  I would've guestimated around 720 with '98 and '04 just as a swag as that appears to be similar for any public record derog like a tax lien.

[Anonymous]

My own experience using FICO '04 took from 2001 to 2011. It seems others have improved their scores more rapidly. As has been mentioned utilization. AAoA and oldest accounts affect the outcome (thin file etc).

[CribDuchess]

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@Revelate wrote:

I'm not certain; if CribDuchess checks here she might be able to shed some light on that, and there's a few other high achievers that have had blemishs on the past when it comes to FICO '08.

I'm 99% confident it's impossible on FICO '04 and older, but it might be feasible on FICO '08 with how it appears to focus on more recent history.

That said within 3 years?  No chance.  7-9 maybe.

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I actually don't have any experience with major derogs (30-day lates are as bad as it gets for me).  I've had the good fortune of never having to file bankruptcy.

But I'm pretty sure I've seen posts from others who have reached "high achiever" status with a BK reporting, although I'm not sure of the age of the BK (I would imagine quite old....perhaps about to fall off?).