I filed a chapter 7 BK which was discharged in Oct of 2008. I currently have 5 open cc accounts, Visa and Mastercard, no store cards. These range from 1.5 to 2.4 yrs in age. Overall AAoA is 6yrs 2 months. I have a car loan that is only 10 months old.
My Fico score from this site is currently 651 up from 650. This increase happened after I paid my cc balances down from approx 41% to 9%
I have had no lates or collections in over 4 years. The only negatives on my report are pre BK.
Why won't my score move up?
The information that is showing for why my score is low lists
1. You have a public record, serious delinquency and a collection on your credit report.
The public record is the BK and the serious delinquencies and collection are pre BK.
2.You have multiple accounts showing missed payments or derogatory descriptions.
All derogatories are pre BK, but I have some accounts that are listed as Current Status 90 days past due or current status BK and a
Status as of Feb 2012. I don't know why these accounts are updating this way but several are.
Status as of Date opened [?]Date of last activity [?]Account number [?]Largest past balance [?]Account Type [?]Account holder [?]Scheduled Payment Amount [?]Industry
| Aug, 2010 |
| May, 2006 |
| Dec, 2007 |
| XXXXXXXXX9339 |
| $127,920 |
| Installment |
| Individual |
| $984 |
| All Banks |
Descriptions
[?]- Account transferred or sold
- Real estate mortgage
No contact information provided by Equifax
Balance [?] Current Status [?]
Seven year payment history
[?]30 days late60 days late90+ days late
| 2 times (Jan 2008, Dec 2007) |
| 1 time (Feb 2008) |
| 0 times |
Worst Delinquency
[?] | 60 days past due |
The above account is a mortgage account that was transferred just prior to the BK filing. The payments weren't really late they were actually paid to the company the loan was transferred to and both of these account show as negative. They have the same date opened the same amount but different closing dates Could these accounts be the reason my score is stuck? Is FICO interpreting these accounts as currently past due? There are several other accounts that have a negative status and a current date of status. Is this my problem? The other reasons FICO gives for low score are the reaching for straw ones like 3.Length of credit history, mine is over 10 yrs 4. You have recently been seeking credit there are 4 inquires. These are from the car loan and an app for a credit union checking and savings (no cc or loan app at this time.) Can anyone shed some light on this and let me know what I can do to get my score to go up? Thanks for your help. |
