09-19-2012 03:36 AM
For some reason on of the CRA was still showing our BK as pending when it had been dishcharged 12/05. Now that it correctly reflects the discharge, will my credit score go up?
09-23-2012 12:25 PM
In my opinion, it might go down.
I dont believe reporting of a pending BK proceeding is scored by FICO as an actual BK, as it has not yet been adjudicated, and thus is not a final BK decree.
The date for CR exclusion of a BK is based on "the date of entry of the order for relief or of adjudication, as the case may be." FCRA 605(a)(1).
The period, depending upon its type, is 7 or 10 years from that date.
I would suspect that once ajudicated, it would then count as a BK adverse item for scoring, with its exclusion date based on the adjudication date.