It would seem though that any accounts you had with lates or collections "included in the BK" would fall off the same time (or most likely earlier) than the BK, so therefore, you wouldn't have any lates or public records showing (as long as you didn't have any after the BK filing as you were rebuilding credit). So technically, your score shouldn't go down -- if you were then put on a level playing field with others with no BKs or public records or lates, right? This is assuming during the time between discharge and the BK dropping off you've re-established credit, increasing credit limits over time, keeping balances at a reasonable utilization, maybe taken out a car loan or mortgage, etc.
My Ch. 13 BK was just discharged 2/08 (filed 10/04), but during the BK, I re-established credit with a student loan, two unsecured loans with Prosper (installment), a Dell account and an unsecured Household Bank account (revolving) that is now up to $1000 limit (started at $300). My car is paid off, so no auto loan yet, and I am looking at a mortgage hopefully in about 6 months. I also have a credit union LOC for $1000 and an Orchard Bank visa ($750 limit). I am hoping to increase the LOC and credit cards within 6 mos (hoping to have mid score over 700). I have no lates. All negative info is from BK or accounts included in BK.
I guess my question is that once my BK falls off in 10/2011 (another long 3+ years
), if I've "kept my nose clean" from now until then, how can my score go down? I appreciate any thoughts...
EXP 623 3/25/08
EQFX 616 3/25/08
TU 564 3/25/08