Hello everybody! I have just filed a ch 7 bankruptcy this month and my credit is SO low right now (436). I feel like it is never going to get any better. I have been reading other posts about steps to take and things like that to improve but I haven't found anyone with a starting fico as low as mine. I feel like a lost cause. Is it possible to come back from this? Does the usual advice apply? Any advice would be greatly appreciated. Thanks!
I am pretty much in the same boat my score was in the 400's as well when I started but I am not discharged yet and according to score watch it has gone up to 523 and I am not even discharged yet. So I think with time and patients and hard work it will go up. I keep telling myself that it didn't take a day for my score to get the way it was so it certainly isn't going to take a day to fix it as much as I would like it to LOL Good Luck
Thanks for the replies! Before I filed I thought bottom was around 500 or so and I was really shocked to see that 436. Is it worthwhile to start disputing now or should I wait for discharge? My creditor meeting is mid september and I was told that I should be discharged the end of november. I am trying to tell myself nothing happens overnight but it is hard. I will need to get a car shortly after discharge since I am surrendering mine. My income is decent and I have a paid off car on my record so I hope I don't end up with a terrible auto loan.
Dont worry about it JanelleOH. Your score at this moment is not real and certainly should be ignored entirely. In fact, your primary concern should be checking PACER like a mad person to see when your discharge is final. At that point give a few days, pull all three reports and look for wrong reporting, duplicates, balance errors etc. Make sure everything is reporting correctly and dispute what isnt. Once this process is complete, this is the only time I would even consider looking at your score for the first time right before you apply for your first rebuilder.