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New Visitor
Docker
Posts: 2
Registered: ‎07-26-2011

Raising Score After Bankruptcy

Hello, I'm new to the sight and this is my first posting.  I had bankruptcy in 2008.  (Not proud) Anyways, since then I've disputed negative credit reports and established positive credit w/ credit building loans and a new car loan.  We've never paid late and all accounts are current.  Debt to income ratio is extremely low, low credit card balances and we've done everything correct.  My median FICO score is still only 625!  What in God's name can keep it that low 3 years after a bankruptcy?  I was expecting 660 or something.  Please help.  We'd like to build a home but I don't want to have a huge interest rate due to bad credit. 

Established Contributor
casmith1980
Posts: 633
Registered: ‎03-20-2010

Re: Raising Score After Bankruptcy

Is your median FICO score from myfico? Also, are you enrolled in score watch? The best part (IMO) is the credit simulator.

Also when you say low balances...what % utilization? Your income has nothing to do with fico scoring. When was your auto loan originated?
EQ Fico 2009 500's
TU Fico 2009 500's

EQ Fico 04/10/2012 663 (SW alert)
TU Fico 04/13/2012 653 (Walmart)

Goal: 760 by 12/2013 and close on my first house :smileyvery-happy:

Goal - 720 by 12/31/12

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
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