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

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
c00mtg
Valued Contributor

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?




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 13 of 16
NormanFH
Super Contributor

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.

Most Recent FICO 8 Scores EX616/TU587/EQ607 01/09/2018 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
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
c00mtg
Valued Contributor

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!




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 16 of 16
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