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How long does it take to get a 700 score after bankruptcy?

lord_kinbote
Established Contributor

Re: How long does it take to get a 700 score after bankruptcy?


@Hopelives2 wrote:

@johncrane wrote:

as long as that bankruptcy is on your report, you will probably not be able to get that score to 700.  


That is blatantly false.

 

The way to 700+ is this:

 

1.  get CC's either secured or unsecured

2.  use them and PIF before due date

3.  DO NOT use between due date and statement date

4.  rinse repeat until you have 3-5 cards

5.  take EACH AND EVERY bad item that is on your CR and offer GW or PIF even if it was included in the BK (there is no penalty for asking them)

6.  rinse repeat until each of those is gone or your score is above 700

 

 


I know this is a super old thread, but can someone explain #3 to me.  I understand that you need to have the balance reflect a low utilization (or 0) at statement cut date, but the "between due date and statement date" is a bit confusing to me.  Am I to presume, that after statement cuts, that I should not use the card until AFTER the due date has passed?  If so, why?  Thanks in advance for any insight.

Message 11 of 12
0REDSOX7
Valued Contributor

Re: How long does it take to get a 700 score after bankruptcy?

That means that if you paying it down, any balance that reports between the due date and statement date would be billed on your next statement, thus reported to the CRAs potentially impacting your score.
BK Discharge 2/11/14

Currently in the garden.
Message 12 of 12
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