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Huge Jump once Mortgage and Student Loans report again?

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afarr
Member

Huge Jump once Mortgage and Student Loans report again?

I know it's the Vantage score (credit karma and sesame).   I got notificaion of a score increase, so I logged in.

 

My finished Ch 13 shows as 'discharged'

 

My Mortgage has a balance now (was $0 during the BK).

 

My student loans (ditto) are showing.

 

Suddenly I bumped 90 points?

 

Myfico here (the free one) was last updated a few days before the above started reporting again.    have to wait a month to see what the 'real' score is.    

 

Is this common?

Message 1 of 5
4 REPLIES 4
castor4072
Regular Contributor

Re: Huge Jump once Mortgage and Student Loans report again?

@afarr 

 

I dunno if this is common, though I'm making my 60th payment 2morrow! I hope I have the same luck too when mine is discharged as well 🤞

Thanks for the DP too!

Message 2 of 5
Thomas_Thumb
Senior Contributor

Re: Huge Jump once Mortgage and Student Loans report again?

Please provide some more detail on before/after account data. Such as open/closed loans along with balance and loan amounts.

 

Do you have other derogatories listed beyond the BK? If your file now shows clean the discharge can boost your Fico scores 60-80 points, possibly more. The open, active, loans could bump Fico 8 scores a bit even though your aggregate B/L ratio is likely quite high.

 

Please report back with before/after Fico scores and more file details.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 3 of 5
castor4072
Regular Contributor

Re: Huge Jump once Mortgage and Student Loans report again?

@Thomas_Thumb 

 

I will report as well as I'm going to sign up for the MyFICO Premier in June. Will have PRE and POST scores when the discharge hits my CR as well. Trying to give this community some DPs'.

 

Cas...

Message 4 of 5
afarr
Member

Re: Huge Jump once Mortgage and Student Loans report again?

Still shows as roughly 590ish here (before the update).   I'll update when my score here updates.   Watching my money CLOSELY, so I probably won't sign up for any of the higher tier reporting stuff.

 

11 accounts over 30 days (some 30 days, some up to 90)  (from before the BK).   Now all are paid/closed (not sure if they're reporting that yet).

 

No other Collections/etc. (filed before that could happen).   

 

2 Cars fully paid off during the Ch 13.   

 

Basically Zero balance now on all accounts (on here) with no update showing yet.   

 

The outside places now show as the Mortgage up to date, Student loans paid as agreed.   They're showing the bump (Credit Karma/Sesame and Cap1 Creditwise (all Vantage scores)

 

Waiting for an Ally $4k and Cap 1 Quicksilver $3k to report (zero balances which is what they'll stay at...although I'm thinking of moving 2 very small ($10 and $20) accounts to those instead of my debit card (and setting auto-pay for the credit cards) to show a tiny bit of utilization.

Message 5 of 5
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