Re: Bankruptcy FAQs
03-23-2010 04:30 AM
"So much for trying to do the right thing, I filed in 2005, and I still have a score below 640."
Yes, it can seem that way with a Chapter 13. I filed in 2005 also. Discharged in May 2009. My credit would be in better shape now if I had filed a Chapter 7 in 2005. I would be 4 years post discharge, rather than less than 1 year post discharge. If you are talking about your mid score, then less than 640 doesn't sound too bad. You only need about a 620 middle score to get a FHA or VA mortgage. Which is all that matters for me, because I pay cash for everything else. My middle score is around 625. I am only guessing though. Since you can't get an Experian FICO, to be on the safe side, I assume that the lowest of the scores I do have available is my middle score. If I am wrong, and my Experian is actually higher than my lowest, then that is all good.