Bankruptcy removal

C-Chedda · ‎12-31-2010

Once my bankruptcy fall off my report next year how much will my score be raised?

haulingthescoreup · ‎12-31-2010

What else will still be on there in terms of lates and other negatives? What will be your longest history? Your AAoA? If you have credit cards, do you allow balances to report? If so, on how many cards? What is your typical reported revolving util?

In other words, you don't necessarily get a blanket increase of X number of points.

With that said, an increase of 75 points is common IF there are very few or no negatives left reporting and util is under control.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎01-04-2011

Which begs the question:

No matter what someone does with the current and on-going credit (right mixture of cc, auto loans paid, home loans, student loans paid off), the score will never get above 750ish with a bk?

MarineVietVet · ‎01-04-2011

@Anonymous wrote:
Which begs the question:

No matter what someone does with the current and on-going credit (right mixture of cc, auto loans paid, home loans, student loans paid off), the score will never get above 750ish with a bk?

I don't think anyone can answer that definitively because every situation is different. I would have been delighted with a score of 750 post BK and before it finally went away.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Anonymous · ‎01-04-2011

My goal is 700 by the end of 2011 and I guess the prior post had me thinking about getting myself a reality check if that was not feasible.

JM-AM · ‎01-04-2011

@Anonymous wrote:
My goal is 700 by the end of 2011 and I guess the prior post had me thinking about getting myself a reality check if that was not feasible.

Anything is possible as my DSIL has scores ranging from EX 742 (lender pulled) EQ 751 and TU 749 with a BK that is only 3 years old. She was approved for a new mortgage and closed on Dec 23, 2010. Merry Christmas to her. She had reached 700 scores just after 1 year (14 months) post BK.

EDITED to change to sister in law not brother in law my mistake

Good Luck
May all your dreams and wishes become a reality!