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Frequent Contributor
Posts: 309
Registered: ‎04-04-2012
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BK Pending to Discharge...How does it affect my credit score?

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? 

Mega Contributor
Posts: 19,798
Registered: ‎03-19-2007
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Re: BK Pending to Discharge...How does it affect my credit score?

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.

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