Just received discharged score still very low.

[Anonymous]

Hey everyone, looking for some help here, from reading past post, most of you seem updated on this topic.

I recently received a discharge ch 7, and my scores went up a bit, currently....equifax 556, experian 526, and transunion 560...I kept one smal car loan, in perfect standing 6mos old...and currently got a navy fed prepaid card for 1k.

When I see my report, I still see negative accounts in the equifax summary...but the trade lines show $0 balance.

Basically, my question is probably very simple, but here goes...Do I have to initiate any disputes with Equifax, Experian, and Transunion, after a bankruptcy, in order to get this credit thing back on track.

My other question, is it possible to go from my score to 700+ in 12-16mos, which I had back in 06, when I purchased my home?

Thank you in advance for reading this message.

[Javomaldo]

I’m not an expert but can share my experience. After my BK my score dropped to just below 400.

Because of the BK I was able to qualify for a car purchase, granted at a higher rate than I wanted but not crazy and I was able to also apply for a capital One credit card, a very expensive rate. But I had to pay my dues.

The BK was in late 2010 and as of today, almost 3.5 years later, my FICO score has jumped to 677, so the improvement has been a steady climb. You will need to use your credit card and pay of most but not all of the balance. The banks will report the activity which does reflect on your FICO score. Once the credit card company increased your limit, as it happened to me, your score seems to jump by 10 or so point.

It’s really a time thing. Not sure if this helps but it’s all I can share with you. Good luck.

[Anonymous]

Its not unheard of to have 700+ scores 24 months after a CH7 discharge. Work the Navy Fed card, and get a second secured card. You should be able to 'graduate' to an unsecured card in 6 months or so.