My bankruptcy will be 1 year old on April 4th (it's been a long year). For the last 4 months my scores have been sitting between 620-630. Since my bankruptcy I haven't had any lates or negative marks but my score is not really rising. I'm wondering if I will see any kind of increase in April since it will be one year since I've had a degratory mark on my report.
I'm not the community expert on lates, but I think you might see a slight rise if you had only 1 or 2 lates in the last year that were not more than 30 days late. If you had 60+ day lates, they would need to age at least two years before they'll ease up on your score.
But chances are, your scores are being held back due to your 39% util rate. Look up the AZEO concept here. After a few months of that, you should see your scores start to move north.
You are on the right track. The biggest thing is getting your utilization down to below 30%. Your goal should be 10%. Once you, you will see an increase on your FICO score. Also if you can get keep a balance on one card at under 10% utilization and pay the other cards in full, you will definitely see some solid FICO scores increases.
Keep on doing what you’re doing, you will get there.
Thank you for your advice. I'm paying my balances today. I'll try to keep it under 10% so I can see a change.