Post BK Question

[Legally_Speaking2512]

Hi Fellow FICO'ers:

So in a few days on 6/1/23, my BK Chapter 7 will be 2 yrs old. I was wondering what kind if impact that will have on my score? Will I see a bump up in overall score?

Thanks for any insight guys/gals - much appreciated. 

[FireMedic1]

There are no points gained as a BK ages. The ding is there until its gone. Im over 7 yrs out and nothing. Its the rebuild that raises scores.

[Creditwiser]

As @FireMedic1 mentioned, no boost for age.  I'm 9.5 years out and my only score bumps were from the rebuilding and a huge gain on TU from the EE they did. Maintain clean CR's and keep Utl and HP's to a minimum and you're good !

[CH-7-Mission-Accomplished]

---

@FireMedic1 wrote:

There are no points gained as a BK ages. The ding is there until its gone. Im over 7 yrs out and nothing. Its the rebuild that raises scores.

---

I also expected to see a bump in scores at the two-year, three-year and five-year marks, but there was no bump due to time since BK was filed (or discharged).   It appears that the BK costs a certain amount of points (and based on my FICO scores, 780 and 779 on EQ & EX), I am guessing FICO 8 hits you with 70 points.   I will find out shortly when they roll off or I manage to get an EE from those two.   My TU FICO 8 is at 850 since I got EE at 14 months out through disputing online as "too old to report."

[Catbird_Seat]

I haven't seen a point increase after my Bk7 from 8/20 has aged, however I have seen the majority of accounts that were included in the BK drop off my reports by themselves, with no action on my part. 

The only ones that are holding on are a few Synch & a few Comenity.

Even the two creditors who served me that were the reason why I finally filed, have fallen off my reports. 

(One of those creditors was NCFU, let this be a warning to anyone who lives in a creditor friendly state, NFCU will absolutely sue on defaulted accounts.) 

[Legally_Speaking2512]

---

@FireMedic1 wrote:

There are no points gained as a BK ages. The ding is there until its gone. Im over 7 yrs out and nothing. Its the rebuild that raises scores.

---

Well shoot, that's kind of what I was afraid of hearing but on the positive side - that's one more year closer to having this bad boy drop off my record. And truthfully I can't complain because only 2 of 3 credit bureaus actually have it on my record. TransUnion is none the wiser as we speak lol. 

On the very very very positive side of things - my rebuild has been going phenomenal. I got to give credit where is due - this forum in the advice I receive from people like you and others is first class and second to none. So thank you for the help - much appreciated.