Score drop.

[Anonymous]

I have quite a few questions, first, I'm getting alerts from accounts that are closing on my credit report. So I go and look and monitor those accounts. I check my scores and they are in the high 400s now(498, 496)😖. Will they rise back up just a little towards the end or once the BK hits? Last I read I took a 65 point hit. What kind of cards can I get with that score to start rebuilding? I was looking at applying with PedFed (for checking/saving and possibly cc). Do I need to wait for my discharge to do that? And lastly, is chexsystrm affected by filing bankcruptcy?

[pizza1]

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@Anonymous wrote:
I have quite a few questions, first, I'm getting alerts from accounts that are closing on my credit report. So I go and look and monitor those accounts. I check my scores and they are in the high 400s now(498, 496)😖. Will they rise back up just a little towards the end or once the BK hits?
yes, its very normal for you scores to take that inital hit when they are being closed. From the sounds of it, you havent filed BK yet? When you do, you might see a little more drop or just staying where they are, but once the BK reports officially as DC to the CRA, you'll see those scores go back up.  Last I read I took a 65 point hit. What kind of cards can I get with that score to start rebuilding? You wont be applying for any credit until after your BK is offically DC'ed and shows DC on all 3 CRA's, and all your accounts that were IIB (included in Bankrputcy) show closed/$0 bal/IIB notation on your reports. Once that happens your scores will go up and will be 580-610 guessing. I was looking at applying with PedFed (for checking/saving and possibly cc). Do I need to wait for my discharge to do that? You could apply for checking/savings now, but you'll be declined for a CC. I would wait until at least a year post DC before trying to apply for a CC with them.  And lastly, is chexsystrm affected by filing bankcruptcy? Yes. I would pull your chex report, and make sure its clean before applying to any banks/CU's.  Lastly.......Once your BK is showing DC on your reports, and all your accounts reflect as they should as well, then check for pre-quals on Cap 1 site. Also....you need to list out who you're going to burn...all lenders, and we can tell you who is friendly post BK, and who isnt...

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[Anonymous]

@pizza1 i saw you mentioned to apply for savings / checking.  does my bank accounts get closed when i file for bankruptcy or what?

[pizza1]

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@Anonymous wrote:

@pizza1 i saw you mentioned to apply for savings / checking.  does my bank accounts get closed when i file for bankruptcy or what?

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@Anonymous , it depends on the bank or CU. Your attorney might suggest that you open an account at a different bank, (one that you're not buring in your BK), for the possiblity that your current bank might freeze your accounts. Who do you currently bank with?