Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
Re: Chapter 13 closed accounts

If every account is closed, and have no open accounts, and the BK reports too then you wouldn't have a FICO score at all. Once you open a new account in the future, then a FICO would be generated because you already have a lengthy history to back your credit up. If you remove these old accounts, then you lose that leverage and your starting FICO score will be much, much lower with only the BK and a new account showing. Even though an IIB account is a negative, not having the length of history to prop up your credit hurts more.