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Deleted bankruptcy

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Deleted bankruptcy

How much does your score improve after a bankruptcy is off your credit report?
Message 1 of 105
104 REPLIES 104
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New Member

Re: Deleted bankruptcy

Good Question!  I'd like to know this too!
04/01/2008 EQ-605 / TU-623 / EX-654
Message 2 of 105
Established Contributor

Re: Deleted bankruptcy

It doesn't. After your BK is removed you are grouped with others who haven't filed BK, so your FICO will go down. The sooner you started rebuilding credit after your discharge, the softer the blow.
Message 3 of 105
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Established Member

Re: Deleted bankruptcy

FaircreditguyFL -
 
Won't it improve at all?  If you have re-established credit after your discharge, and the 7 years ticks by and finally the BK drops off, surely your scores will improve, as you won't be showing a "serious delinquency or collection or public record."  Doesn't that make sense?  Or am I missing something?
Message 4 of 105
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Regular Contributor

Re: Deleted bankruptcy



laurenjane wrote:
FaircreditguyFL -
 
Won't it improve at all?  If you have re-established credit after your discharge, and the 7 years ticks by and finally the BK drops off, surely your scores will improve, as you won't be showing a "serious delinquency or collection or public record."  Doesn't that make sense?  Or am I missing something?


Public records in general don't effect your score after 2 years.  It would be safe to say that a BK would be in the same catagory.  Basicly FICO see's a public record's closing date, it doesn't get into specifics on what it's for or how much it was for, just that is was settled/ closed on xx/xx date.
 
The part to look forward to is once the BK falls off, the unfriendly BK lenders will be freindly to you once again.....
Message 5 of 105
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Established Contributor

Re: Deleted bankruptcy

It goes down........
Message 6 of 105
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Established Member

Re: Deleted bankruptcy

Any thoughts on why it would go down?  If anything, it'd seem as though it'd stay the same.   Very strange for it to go down, but then again, maybe it's one of the mysteries of credit reporting...
Message 7 of 105
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New Contributor

Re: Deleted bankruptcy

that stinks... Smiley Sad
Message 8 of 105
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New Member

Re: Deleted bankruptcy

That doesn't seem right...  It should go up... 
Has anyone pulled their credit right after a BK was removed from their credit report who can verify this?
04/01/2008 EQ-605 / TU-623 / EX-654
Message 9 of 105
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Epic Contributor

Re: Deleted bankruptcy

Poster is right, after BK comes off you go down.  Right now your score is simulated based on how you perform compared to others that have filed BK.  When BK drops off, you are put back into that group of people that have NEVER filed bk and never have been late and all that stuff.  Most likely your file isn't going to be quite as strong as theres especially if you have not been rebuilding.
Message 10 of 105
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