BK

[smallfry]

Currently my FICO score is 708. I went bankrupt in 2000. I understand this will fall off my report in 2010. I only have one CC currently and the utilization is way high over 90%. I am going to pay it off next month. I took an interest free deal with a store for a purchase a few months ago still owe about 80% of the original loan on that item. I plan on paying that off in two months. What kind of a bump up in my score can I expect when I pay these two items off? Any idea what kind of bump I will see in my score when the bankruptcy falls off? TIA.

[Anonymous]

My understanding is that the FICO score looks at your last two years of history.  A mortage appl. will look at things like BK.  Good for you in paying off those two loans that quickly.  You score will probably jump up a few points - but who knows for sure!

In anycase, so long as you're above 700 that's pretty good anyway (you'll get car loans, CC etc).  I wouldn't worry about it. Your in good stance and just keep paying cash so you'll never have to look at the BK again !