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Help! Can't seem to get over the 700 hump...Any suggestions?

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rsl1313
New Contributor

Re: Help! Can't seem to get over the 700 hump...Any suggestions?

Hi,

 Thanks for the tip ! It looks like TU has my AAofA at 4 years 3 months, Experian and Equifax has it at 6 years 10 months...

Message 11 of 16
rsl1313
New Contributor

Re: Help! Can't seem to get over the 700 hump...Any suggestions?

Hi,

 TU has my AAofA as 4 yrs 3 mos., EX and EQ has it at 6yrs. 10 mos....I guess the new accounts are probably holding me down a bit...I know everyone's situation (and credit file) is a bit different I guess I should have been more proactive in the first year post-BK....

Message 12 of 16
Anonymous
Not applicable

Re: Help! Can't seem to get over the 700 hump...Any suggestions?

Yes, everyone is different.  Did you not start rebuilding right away?  When did you start after ch7?

Message 13 of 16
Anonymous
Not applicable

Re: Help! Can't seem to get over the 700 hump...Any suggestions?


@rsl1313 wrote:

Hi,  I read posts on here all the time about going from BK to 700 in 2 years but I must be doing something really wrong. I have  a Chap. 7 BK that was discharged 313. It was almost all federal tax debt. My car was included in BK, although I kept the car, made the payments religiously, paid it off early and still have it There were also a couple of credit cards included, pretty small balances...

 

I know that part of my problem is I didn't do anything for the first year. I finally applied foraCapOne secured MasterCard after a year. Now I have 4 credit card accounts, I always pay in full but leave a small balance on one. I also have a  small installment loan and a mortgage..Does anybody have any ideas about what I might be  not doing correctly? I do have 3 new accounts this year (mortgage and 2 credit cards). Will my credit score  start to increase as the BK ages or will I just have to wait until it falls off?

 

Thanks to everyone for the great posts!!!!

 

Chap. 7 BK discharged 3/2013

10/1 FICO EXP 686 TU 654 EQ 687

QS1 $7000/QS VentureOne $30000/Discover It $10000/Alaska Airlines Visa $3000

 

 

 


The "newness" of those accounts are the issue. Just give it time and they will age. High scores are mostly about low balances and AGE.

Message 14 of 16
rsl1313
New Contributor

Re: Help! Can't seem to get over the 700 hump...Any suggestions?

hi,

I didn't apply for any credit for a year after my BK discharged...foolish I know, but that's just the state of mind I was in...

Message 15 of 16
Anonymous
Not applicable

Re: Help! Can't seem to get over the 700 hump...Any suggestions?

It's ok, you'll get there.  Just keep  making your payments ontime, don't carry high balance and those scores will come!

Message 16 of 16
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