Score after BK ages off?

[Anonymous]

Hello Everyone,

My chapter 7 is finally due to age off 10/2016. I have been reading and it looks like most people see an increase after the BK falls off. Is there any way to tell how much of an increase I might see? 

[SouthJamaica]

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@Anonymous wrote:

Hello Everyone,

My chapter 7 is finally due to age off 10/2016. I have been reading and it looks like most people see an increase after the BK falls off. Is there any way to tell how much of an increase I might see? 

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It depends on the rest of your file, but it will likely be huge.... probably 60-70 points or so.

[Anonymous]

Thanks for your reply

I have 5 cards 2 retail 1 Bofa and 2 cap 1 total cl 6600

1 installment loan reporting right under 80%

Last 30 day late 13 months ago all accounts current since 

1 collection on Eqifax to also drop off in sept, no chg off or collection on Ex or TU

[Revelate]

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@Anonymous wrote:

Thanks for your reply

I have 5 cards 2 retail 1 Bofa and 2 cap 1 total cl 6600

1 installment loan reporting right under 80%

Last 30 day late 13 months ago all accounts current since 

1 collection on Eqifax to also drop off in sept, no chg off or collection on Ex or TU

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Hard to say with that late still on there, especially if there are other deliquencies on the file which your phrasing suggests.  How big and how many and dates?

I'll be very interested to see what your score does if you don't mind reporting back when it updates, what's your AAOA and oldest account date?  I'm not expecting 60-70 points with the deliquencies still on there, but if we're talking FICO 8 you probably get some unless it's revolving utilization holding you down.

While the BK definitely dumps you into the ugly scorecard (with me I might add with my old tax lien that falls off December next year) I haven't seen a tremendous amount of good data on deliquencies of various ages and types without a PR/collection of any sort.

[Anonymous]

Thanks Revelate,

I just started to work on my file last may. My last 30 day late was March 2015 and i do have other 30 day lates on my 2 cards that i had at the time that are slowly aging off. 

Yes i will update this post to report back when my files update planning on asking for early exclusions starting next month with TU.

My oldest account is 16.9 years and my AAOA is 5.3 years (opened new accounts last year brought it down) My utilization is 8% percent right now I try to keep it below 10%.

I am trying to raise my Equifax fico 4 which is 638 and my fico 8 scores are Equifax 666 TU 704 and Ex 668

My ex fico 8 won't budge. I am wondering if there is anything else i can do besides wait for the BK to dall off, wait for the 1 collection on eq to fall off in sept and continue to stay current w/ low utilization that will help raise my scores?

[RonM21]

There should certainly be some sort of increase. As mentioned it does depend on the rest of the file. Usually it seems like if it's the last baddie coming off, it gives the biggest boost in score.

[elim]

I lost a PR this year on EX and EQ.  This was my only baddie and I gained 60 points.

You'll be happy    :]

[Anonymous]

Thanks elim,

I will keep my fingers crossed

[Anonymous]

Hi There RM21,

It is the last major derog to come off but i do have other baddies aging off (30 day lates) so I will take any increase i get 

[pi-r-squared]

On TU, I had a BK-7 and 2 collections reporting.  The collections were from Aug 2011.  The BK was due to fall off next month but TU removed it 6 months early so it was gone after this past Jan.  But, since my 2 collections still remain, my TU FICO did not change.  

Your 30-day late is more recent than my collections so I wouldn't expect an increase.