topic Scorewatch reported Ch 7 Filed 1/24/14 in Bankruptcy

Scorewatch reported Ch 7 Filed 1/24/14

Anonymous — Sat, 25 Jan 2014 21:29:26 GMT

After lurking these forums and learning a lot for a while now I'm happy to submit my first post! I enrolled in Scorewatch and bought my credit reports after finally paying off my lawyer to file my Ch 7 on 1/17/14. At the time my FICO was 532. Scorewatch alerts me yesterday that a new public record (my bankruptcy) is now being reported, causing my FICO to drop to 524.

This raises two questions: 1- is this the lowest it will get until the discharge and 2- can I expect a sudden FICO increase the day the Ch 7 is officially reported as discharged? If so, how many points do you think?

I know from reading this forum that I'll have to get my 3 reports again and verify everything is reporting IIB and $0 balance once I get the discharge papers and I've bookmarked the thread HOW TO from CH7 to 700 in 24 months but I am wondering what kind of score increase will happen 3 months or so from now. Thanks!

Re: Scorewatch reported Ch 7 Filed 1/24/14

gdale6 — Sat, 25 Jan 2014 21:57:09 GMT

Very well could be as the score was already pretty low. It will depend on how all your accounts are reporting. All the CAs/JDBs should just be dropping off the report once they are notified and all the TLs will goto 0 balance IIB but they will keep the history prior to filing of BK. I would not expect a large jump in FICO post discharge until you start the re build process, the time to start it is day of discharge.

Re: Scorewatch reported Ch 7 Filed 1/24/14

Anonymous — Sun, 26 Jan 2014 02:40:44 GMT

Ok, if I understand what you're saying the collection agencies will fall of my credit reports and instead, the original creditors will report but with IIB $0 bal?