cancel
Showing results for 
Search instead for 
Did you mean: 

bankruptcy & score & utilization & buckets

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Frequent Contributor

bankruptcy & score & utilization & buckets

Hello everyone,

 

I am seeking some advice, maybe someone has been through a similar situation, or knows of one

 

i have a bankruptcy joint.. that was discharged back in nov 2004, and a priemer credit card that shows as part of the bankruptcy as a separate item, but thats it..

 

I have nothing else negative ever since 2004, and two of my credit reports show no inquries anymore, as i stopped applying for credit cards. i have 9 accounts in good standing, two of which i am authorized user on my wife, and one we are joint. we have no mortages, but i have one car loan from 2005 and the car is almost paid off..

 

my fear was to pay off the car loan, or shall i leave it on there reporting for a little longer, does it really matter, since i am still part of the bankruptcy bucket, which makes me wonder about credit utilization, i am at 11 percent now.. does going down to 7 or 5 % really matters for someone still in that bankrupty category

 

appreciate the insight

 

BK7 Discharge: October 2004 Starting Score: 590 March 2018 EQ & EX & TU FICO Score: 846 & 847 & 850

Goal Score: 800+ across the board | Goals Hit: 3 Active Cards: 2

Gardening Since: October 2015 Garden Goal: Oct 2018

Wish List: | None



Message 1 of 3
2 REPLIES 2
Highlighted
Established Contributor

Re: bankruptcy & score & utilization & buckets

Yes, utilization does still effect your score. I'm not sure how much your score would improve going from 11% U down to 5-7% though.

 

My scores never went much above 730 while my BK  still reported. Never had my utilization down to 11% then either. Best thing I had going for me was AAAs.

Message 2 of 3
Highlighted
Frequent Contributor

Re: bankruptcy & score & utilization & buckets

thanks..

 

i figured there is only so much u can do scoring wise having that bankruptcy under your belt

 

I am glad I get an insight for a similar experience

 

BK7 Discharge: October 2004 Starting Score: 590 March 2018 EQ & EX & TU FICO Score: 846 & 847 & 850

Goal Score: 800+ across the board | Goals Hit: 3 Active Cards: 2

Gardening Since: October 2015 Garden Goal: Oct 2018

Wish List: | None



Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.