cancel
Showing results for 
Search instead for 
Did you mean: 

Credit score immediately after discharge?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Established Contributor

Credit score immediately after discharge?

During bk i disputed everything on my report and got everything changed to iib and zero balance. This shot my score up 150 pts as my cards were no longer at 100% amd collections were now 0.

 

Upon discharge should I expect any more increases once the discharge notation is on the report? All balances will be at zero as they are now. Does fico take into account an active bk vs a discharge? 

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019
Message 1 of 7
6 REPLIES 6
Highlighted
Valued Contributor

Re: Credit score immediately after discharge?


@CreditGuy03 wrote:

During bk i disputed everything on my report and got everything changed to iib and zero balance. This shot my score up 150 pts as my cards were no longer at 100% amd collections were now 0.

 

Upon discharge should I expect any more increases once the discharge notation is on the report? All balances will be at zero as they are now. Does fico take into account an active bk vs a discharge? 


I can only speak to what happened to me.   I did exactly what you did and disputed everything prior to discharge and got everything to show IIB and zero balance.   My score also rose from about 525 to about 620.   I was hoping discharge would provide an additional boost but in my case the discharge didn't move the needle even a single point.   Others can chime in with their own experience.

Congrats on your progress so far!

FICO 08: EX-698, EQ-738, TU-721 - [8/2/2019]
FICO 09: EX-748, EQ-785, TU-770 (8/2/2019)
Mortgage: EX-737, EQ-769, TU-761 - [8/2/2019]
NFCU NavChk 15K | NFCU Visa 50K | CapOne Venture Visa 50K | CapOne Savor 30K | Barclay Aviator MC 12.5K | Discover It 32K | Alliant 3% Cash Back Visa 25K | BECU CLOC 10K | BofA AK Air Visa 5K |Amazon Prime 10K.
239.5K Total Revolving. Alliant Car Loan 15K/31K
BK 7 Filed 8/23/2013 - Discharged 11/27/2013.
Message 2 of 7
Highlighted
Frequent Contributor

Re: Credit score immediately after discharge?

I was at 497 with Ex when my discharge occured. Once I was completly done (all accounts at zero balance 13 total), my EX score shot up to 568. Once I got my first credit card (6 months out of my discharge of December 2016) it went up to 612. I hope that helps.









Message 3 of 7
Highlighted
Established Contributor

Re: Credit score immediately after discharge?


@CH-7-Rebuilding wrote:

@CreditGuy03 wrote:

During bk i disputed everything on my report and got everything changed to iib and zero balance. This shot my score up 150 pts as my cards were no longer at 100% amd collections were now 0.

 

Upon discharge should I expect any more increases once the discharge notation is on the report? All balances will be at zero as they are now. Does fico take into account an active bk vs a discharge? 


I can only speak to what happened to me.   I did exactly what you did and disputed everything prior to discharge and got everything to show IIB and zero balance.   My score also rose from about 525 to about 620.   I was hoping discharge would provide an additional boost but in my case the discharge didn't move the needle even a single point.   Others can chime in with their own experience.

Congrats on your progress so far!


Thank you as this is what I should expect.

 

So when did your score start to rise?

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019
Message 4 of 7
Highlighted
Valued Contributor

Re: Credit score immediately after discharge?


@CreditGuy03 wrote:

@CH-7-Rebuilding wrote:

@CreditGuy03 wrote:

During bk i disputed everything on my report and got everything changed to iib and zero balance. This shot my score up 150 pts as my cards were no longer at 100% amd collections were now 0.

 

Upon discharge should I expect any more increases once the discharge notation is on the report? All balances will be at zero as they are now. Does fico take into account an active bk vs a discharge? 


I can only speak to what happened to me.   I did exactly what you did and disputed everything prior to discharge and got everything to show IIB and zero balance.   My score also rose from about 525 to about 620.   I was hoping discharge would provide an additional boost but in my case the discharge didn't move the needle even a single point.   Others can chime in with their own experience.

Congrats on your progress so far!


Thank you as this is what I should expect.

 

So when did your score start to rise?


It's been nearly 6 years so I don't exactly remember.   I know getting to 620 was way easier than getting to 680.   My Experian score has never passed 700 on FICO 08.   My FICO 09's have been up to 780, which is amazing.    What helped me most was getting my first secured card and a share secured loan from my local credit union.   I didn't do anything else for a full year, which was kind of stupid.   When I opened my second and third cards my scores rose further.   I prefer secured cards to the predatory subprime ones (Credit One, First Premier, etc.), but those subprime cards are easy to get.   I would probably let the one card report for four months and then apply for a Capital One (unsecured) card.   You could also start with the Discover secured which graduates quickly (like 6 months).   If you can get into Navy, they are the best of all.  Open a secured credit card for the minimum amount -- I forget what it is -- and you will go from like $500 to $2500 when it unsecures to 25K or more within a couple of years.   I'm at 50K now on one card with a 15K line of credit.   Feel free to ask any other questions.   You are doing great so far.

One word of caution:   I would seriously try to avoid store/retail cards.   Most people go crazy getting them and wind up shutting them down within a year.   Some people OD on them.   Look for store cards that you can imagine using for 20 years or more -- like Amazon, Wal-Mart, Lowes -- as opposed to cards that might cater to young people's fashion tastes or whatever -- cards/stores you will outgrow.   I would not do any Comenity cards (they finance 100s of stores -- go to their site and you can see).   

Again, you are doing great.   I do think it's best to wait at least 4 months between new apps and at those 4 month points open at most 2 cards. In the interim read up about different cards and figure out what the best cards you can get will be.   Do not waste your time with Chase, AMEX, BofA (unsecured), Citibank (unsecured).   Credit unions are your best friend.

FICO 08: EX-698, EQ-738, TU-721 - [8/2/2019]
FICO 09: EX-748, EQ-785, TU-770 (8/2/2019)
Mortgage: EX-737, EQ-769, TU-761 - [8/2/2019]
NFCU NavChk 15K | NFCU Visa 50K | CapOne Venture Visa 50K | CapOne Savor 30K | Barclay Aviator MC 12.5K | Discover It 32K | Alliant 3% Cash Back Visa 25K | BECU CLOC 10K | BofA AK Air Visa 5K |Amazon Prime 10K.
239.5K Total Revolving. Alliant Car Loan 15K/31K
BK 7 Filed 8/23/2013 - Discharged 11/27/2013.
Message 5 of 7
Highlighted
Established Contributor

Re: Credit score immediately after discharge?

Thank you for that information. I will look into secured cards
Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019
Message 6 of 7
Highlighted
Super Contributor

Re: Credit score immediately after discharge?

Once the BK filing hits your reports and then all the accounts report correctly. The DC is just a comment added once it happens. Some people will have dismised or some other comment. Just like any other account. Its just a comment like open, closed, charged off, settled, ect to describe the CC account. Same applies to the BK. No points gained.





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 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.