Frequent Contributor
fuzzybean
Posts: 305
Registered: ‎04-04-2012
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
RobertEG
Posts: 17,675
Registered: ‎03-19-2007
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.