cancel
Showing results for 
Search instead for 
Did you mean: 

6 months into car payments. Scores finally bouncing back..

Highlighted
Contributor

6 months into car payments. Scores finally bouncing back..

Ch 7 discharged June 2015. Got a couple of credit cards. Got my car loan through Hyundai Financial in March. Scores were 650-675. Went from a little credit card debt to $30,000 total debt basically overnight. Numbers took a hit. They dropped to 580-600. Now that I'm 6 months into payments, they just took a nice jump UP. Only a 12 month credit history but 100% on-time payments (early and over-paid technically on all my cards). Fresh update and my numbers across all three reports went up 57,54 and 53 points. I figured it was going to take at least until years end to start seeing the rise back up, but it's nice to finally see it. I just got a remote part-time job writing for an automotive repair website. That extra income is going right to my $4000 Quick Silver balance. It will be $0 by my birthday in February so I'm hoping as that balance drops, I'll see 700 by then. There really is light on the other side after bankruptcy.

 

Side note: in the last 3 weeks, the letters from car dealers have started again with the "your bankruptcy was discharged June 2015. It's time for a new car !!" crap lol.

CH 7 Discharged 6/10/15
T/U - 643
EQ - 588
Ex - 647 as of 6/14/15
Message 1 of 2
1 REPLY 1
Highlighted
Established Contributor

Re: 6 months into car payments. Scores finally bouncing back..

Congratulations. A couple of months before you get your new car, leave a very small balance on one credit card & zero balance on the other one. Then just make sure you use either one every few months. These things take time but you are doing great.

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.