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Chap 7 Petition To Discharge

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Chap 7 Petition To Discharge

Is there a difference in scoring once a petition changes to a discharge? Most of my balances have already reflected a $0 balance just by filing the petition. I didn’t know if one is better than the other on FICO. Thanks
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Re: Chap 7 Petition To Discharge

Once you recieve your DC. It can take up to 30 days for everything to settle down. You'll want to pull your reports and make sure everything states IIB and 0 balance. Then you will see a small score boost since your out of debt. There will be many changes from now until then. Dont freak out. Once it all settles. Then you'll know where your rebuild scores will be at when it comes time to start.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
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Re: Chap 7 Petition To Discharge

Thanks so much for the reply! I have another question as far as utilization. Does an AU account utilization count the same as a responsibility account? Basically, if I have 9% on a 10k AU and 0% on my own account will that maximize my FICO or do I need to add 1-9% on my own account for best score? Thanks again.
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Re: Chap 7 Petition To Discharge


@Koyote22 wrote:
Thanks so much for the reply! I have another question as far as utilization. Does an AU account utilization count the same as a responsibility account? Basically, if I have 9% on a 10k AU and 0% on my own account will that maximize my FICO or do I need to add 1-9% on my own account for best score? Thanks again.

Swap them. Looks better for you since your the primary holder of your own account. Cool?





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
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Re: Chap 7 Petition To Discharge

If I can’t afford to pay off the AU account in full to 0% is is still okay to put 1% on my individual and have two balances reporting? Thanks.
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Re: Chap 7 Petition To Discharge


@Koyote22 wrote:
If I can’t afford to pay off the AU account in full to 0% is is still okay to put 1% on my individual and have two balances reporting? Thanks.

The fewer the balances reporting, the better.  Unless you have a card at 80% and you can transfer 40% of it to another card.  2 balances reporting under 50% is better than a maxed out card reporting, which is 75% or higher in most instances.

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Re: Chap 7 Petition To Discharge


@twono wrote:

@Koyote22 wrote:
If I can’t afford to pay off the AU account in full to 0% is is still okay to put 1% on my individual and have two balances reporting? Thanks.

The fewer the balances reporting, the better.  Unless you have a card at 80% and you can transfer 40% of it to another card.  2 balances reporting under 50% is better than a maxed out card reporting, which is 75% or higher in most instances.


Your close dude. Over 89% is maxed. Next lower threshold is 69%.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 7 of 8
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Re: Chap 7 Petition To Discharge

So the bankruptcy court will notify all creditors of the discharge and then the creditors update to the bureaus? I’m due to discharge Friday.
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