Credit Bump Immediately After Filing Ch 7

[Jules215]

Since this was something I was interested in, I thought I'd share.

My Ch 7 was filed late yesterday afternoon so I thought I would check my credit score one last time until my case is discharged so I'd know how far down I'd fallen and where I was going from there...To my BIG surprise, Transunion already had the BK posted and my score had gone up 76 points...( It hasn't hit the others yet )...First, I thought my score would fall even further than the last time I saw it a few weeks ago, and certainly never expected it to rise yet...Or to that degree...Should I expect another small bump at discharge now?

After what has been a very stressful few weeks making this decision, etc. it was a nice little surprise...Would anyone else care to share the types of "good" bumps they saw and at what stage of the BK process??

[FireMedic1]

Welcome @Jules215 

Once you file all creditors have to 0 out your balances. So legally your out of debt. That why we tell folks dont apply for credit until that happens. That much of a gain is probably Vantage. Good luck on your DC.

[pizza1]

Where are you getting your scores from? Vantage scores? Those mean nothing. FICO scores are what matters when you. You would receive an increase initially after the BK posts, and all accounts reflect zero, due to having no debt, and your DTIR probably went from very high, to very little or zero .

[Jules215]

2 were Vantage and the other Fico...( And I'm aware the Vantage scores are what they are )...But I did have a similar increase across the board...It doesn't matter as they're still not great, but I wasn't expecting that and found it interesting as a reference point.

My situation is perhaps a little different in that as of July 1 of this year my credit scores were in the Good range and by Sept 26 they had fallen to the low 500s...The factors that led me to file came very quickly, and unexpectedly...But I knew there was not going to be a way to rectify things, so I pulled the trigger on filing pretty quickly. ( Oct 16 ). I filed before some of my accounts were even 30 days late. If you had told me in mid-July I'd find myself in this situation, I'd have never believed it.

[pizza1]

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@Jules215 wrote:

2 were Vantage and the other Fico...( And I'm aware the Vantage scores are what they are )...But I did have a similar increase across the board...It doesn't matter as they're still not great, but I wasn't expecting that and found it interesting as a reference point.

My situation is perhaps a little different in that as of July 1 of this year my credit scores were in the Good range and by Sept 26 they had fallen to the low 500s...The factors that led me to file came very quickly, and unexpectedly...But I knew there was not going to be a way to rectify things, so I pulled the trigger on filing pretty quickly. ( Oct 16 ). I filed before some of my accounts were even 30 days late. If you had told me in mid-July I'd find myself in this situation, I'd have never believed it.

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When I had filed, I unfortunately had lates before I filed, and when the BK hit, I was 500's as well. As I started rebuilding, which was immediately, day of discharge, things progressed quickly from there.  It wasnt long before I was 600's, then low 700's, which is where I had remained for the last 4 years of my BK. 

[Rogue46]

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@pizza1 wrote:

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@Jules215 wrote:

2 were Vantage and the other Fico...( And I'm aware the Vantage scores are what they are )...But I did have a similar increase across the board...It doesn't matter as they're still not great, but I wasn't expecting that and found it interesting as a reference point.

My situation is perhaps a little different in that as of July 1 of this year my credit scores were in the Good range and by Sept 26 they had fallen to the low 500s...The factors that led me to file came very quickly, and unexpectedly...But I knew there was not going to be a way to rectify things, so I pulled the trigger on filing pretty quickly. ( Oct 16 ). I filed before some of my accounts were even 30 days late. If you had told me in mid-July I'd find myself in this situation, I'd have never believed it.

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When I had filed, I unfortunately had lates before I filed, and when the BK hit, I was 500's as well. As I started rebuilding, which was immediately, day of discharge, things progressed quickly from there.  It wasnt long before I was 600's, then low 700's, which is where I had remained for the last 4 years of my BK. 

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That's pretty much how I progressed, Sat in the mid to high 600's for the first 2-3 years and finally hit low 700 about 4-5 years in and stayed there until about year 7 when I slowly creeped up to high 700's. The scores in my signature are almost 9 years post bk7

[Nailqueen]

I am 6 days away from discharge and my fico scores have jumped almost 100 points 

[Nailqueen]

Same. I filed Sept 19 discharged Dec 26 I did start rebuilding a few days after I filed though so I now have 3 months of on time payments but I started in high 400s and I am now around 600-620 across the board 

[ldyredd27]

My BK7 discharged on 7/24/23.

My scores are currently EQ662/TU641/EX629. Hoping to maintain this and grow to 700s quickly.

[Horseshoez]

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@ldyredd27 wrote:

My BK7 discharged on 7/24/23.

My scores are currently EQ662/TU641/EX629. Hoping to maintain this and grow to 700s quickly.

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@ldyredd27 wrote:

My BK7 discharged on 7/24/23.

My scores are currently EQ662/TU641/EX629. Hoping to maintain this and grow to 700s quickly.

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You'll need to define quickly.

• My wife filed Chapter 7 back in 2014 and eeked her way up into the 700s two and a half (or so) years after her discharge; her bankruptcy fell off her records this month and all of her scores are now up in the 800s.
• I filed Chapter 13 in 2015 and many of my FICO scores never made it above 670 or so before the public record dropped off my reports (7 years after filing) and my scores shot up into the 800s.

What is your plan for rebuilding?