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What kind of credit can she expect?

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Anonymous
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What kind of credit can she expect?

A friend of mine has had a BK in 2003.  Since then she had one account.  It was a Capital One credit card that charged off in 2004.  She checked her score about a year ago and it was about 600 (EX).  She is planning on checking her scores next month and maybe start the GW process.  What should she expect? Would she have a very low score because that the only activity is the Crap One, or would her score become relatively good because of the passage of time.  I know time heals all scores.  And inactivity may hurt scores. 
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granny031350
Established Contributor

Re: What kind of credit can she expect?

I think she just needs to have her credit report reflect those accounts that she included in her BK as IIB with a zero balance owing.  The last date of report should be the date the BK was filed.  Her one new account should be a positive tradeline (hopefully) and she should probably apply for a few more tradelines and pay them off in full each month which could boost her score up more.  I have read on this forum that after a BK the highest score one could achieve with a BK on the record is around 750.
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