topic Re: Chapter 7 bankruptcy fell off credit report and score dropped in General Credit Topics

Chapter 7 bankruptcy fell off credit report and score dropped

LH88 — Tue, 07 May 2019 17:56:10 GMT

I had a chapter 7 fall off my Transunion credit report and my credit score dropped 4 points. I did not expect that. I have heard several people have had the same impact when their bankruptcy was removed from their credit report. Anyone experience this?

Re: Chapter 7 bankruptcy fell off credit report and score dropped

SouthJamaica — Tue, 07 May 2019 18:05:44 GMT

@LH88 wrote:
I had a chapter 7 fall off my Transunion credit report and my credit score dropped 4 points. I did not expect that. I have heard several people have had the same impact when their bankruptcy was removed from their credit report. Anyone experience this?

That would not have caused your score to decrease.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

FinStar — Tue, 07 May 2019 18:44:47 GMT

OP, what may have likely been the culprit are the rebucketing factors that have placed your overall profile (sans BK) in the 'new' scoring bucket.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Revelate — Tue, 07 May 2019 19:33:45 GMT

@FinStar wrote:
OP, what may have likely been the culprit are the rebucketing factors that have placed your overall profile (sans BK) in the 'new' scoring bucket.

+1 if we're talking FICO scoring and generally thin / short files especially; but would ask OP where did you get your scores from?

Re: Chapter 7 bankruptcy fell off credit report and score dropped

LH88 — Wed, 08 May 2019 15:10:00 GMT

I received my scores from Myfico.com. I received an alert that the BK fell off and my score dropped 4 points.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Anonymous — Wed, 08 May 2019 19:10:42 GMT

LH88 sure is unusual ... my score went up 80 points on all three bureaus using FICO Scores not Vantage when the big BK went away. Interested in why this happened. Did catch a poster mentioned "rebucketing" and that can certainly happen.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

RobertEG — Wed, 08 May 2019 21:41:41 GMT

Do you have any unpaid collections or charge-offs that were also recently updated to show that they continue to be unpaid?

That is often a hidden culprit that affects scoring, as it extends the effective delinquency period......

Re: Chapter 7 bankruptcy fell off credit report and score dropped

LH88 — Thu, 09 May 2019 20:55:39 GMT

I do have one small unpaid collection but the rest of my credit is good. I have 10 current accounts all good. I was expecting a score increase when the bk fell off. I guess the rebucketing remark is correct.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Anonymous — Thu, 09 May 2019 21:58:27 GMT

When you get rebucketed after BK falls and still have a dirty file, it’s very likely you will have your score drop unfortunately. Things that weren’t penalizing you as much because they are more common on a BK card hurt more when you’re averaged against the rest of the public.

Regardless of the score, your file is much more favorable to lenders without the black eye of a BK so take it for the win it is and congrats! 4 points is not much of a loss anyway and well within the normal monthly swings that TU credit reports can experience.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Anonymous — Mon, 01 Jul 2019 22:51:26 GMT

How long did it take for your ch7 bk to fall off?

Re: Chapter 7 bankruptcy fell off credit report and score dropped

pizza1 — Wed, 03 Jul 2019 15:35:12 GMT

@Anonymous wrote:
How long did it take for your ch7 bk to fall off?

@Anonymous m depends on the type of BK. A 7 stays on reports 10 yrs from file date, and a 13 stays on for 7 yrs.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

pizza1 — Wed, 03 Jul 2019 15:43:03 GMT

@LH88 , your reports are still dirty, just less dirty now that the BK if off. When was the collection paid? You could try to GW it to remove it sooner, but if unsuccessful, it will follow the rule of DOFD...So, it will fall off reports from the date of first delinquency.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Anonymous — Wed, 03 Jul 2019 15:40:04 GMT

How did you do it? The high cl. I get only 300$

Re: Chapter 7 bankruptcy fell off credit report and score dropped

pizza1 — Wed, 03 Jul 2019 15:42:24 GMT

@Anonymous

Id suggest making your own thread in the BK section with your own questions, so it doesn't deter away from the OP, and possibly get lost in the thread We can answer your questions there, and help you.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Anonymous — Wed, 03 Jul 2019 15:44:43 GMT

I had no collection a few lates having to do with mortgages yet unable to get higher credit limits. Chase n citi and discover won't give me secured card because of bk.
Any assist appreciated. Ty

Re: Chapter 7 bankruptcy fell off credit report and score dropped

pizza1 — Wed, 03 Jul 2019 15:51:17 GMT

@Anonymous wrote:
I had no collection a few lates having to do with mortgages yet unable to get higher credit limits. Chase n citi and discover won't give me secured card because of bk.
Any assist appreciated. Ty

Like Ive already suggested...you need to go post your own thread in the BK section here on the forums with your own questions. We can help you there, so we dont take away from this thread.

Re: Chapter 7 bankruptcy fell off credit report and score dropped

Anonymous — Thu, 11 Feb 2021 02:41:47 GMT

My Chapter 7 just fell off my Experian report and my Fico score dropped 16 points. 😩