Chapter 13 BK removed, points drop??

[Anonymous]

I recently had a dismissed Bk chapter 13 removed from Experian (EE). The date of the BK is 05/09/12. Anyhoo, I noticed when it was removed on 3/18 most my scores dropped on Experian. I still have some CO’s present so I didn’t expect a jump but didn’t expect a drop either, does anyone know why this happened? Here’s before and after scores
From 3/17 then changed on 3/18
Fico 8 627>626
Fico 2 572>558
Auto 2 486>475
Auto 8 559>570
Bankcard 8 600>616
Bankcard 539>538

[SouthJamaica]

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@Anonymous wrote:
I recently had a dismissed Bk chapter 13 removed from Experian (EE). The date of the BK is 05/09/12. Anyhoo, I noticed when it was removed on 3/18 most my scores dropped on Experian. I still have some CO’s present so I didn’t expect a jump but didn’t expect a drop either, does anyone know why this happened? Here’s before and after scores
From 3/17 then changed on 3/18
Fico 8 627>626
Fico 2 572>558
Auto 2 486>475
Auto 8 559>570
Bankcard 8 600>616
Bankcard 539>538

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No it would make no sense. Your score should have increased, probably dramatically. Perhaps it's a temporary blip based on your switch in scorecard, and the new scorecard not having updated yet.

[Anonymous]

Your scores won't drop IMO from the removal of a BK.  They may not necessarily go up much as you indicated that you still have other major baddies present.  What is the age of the CO(s) that you have?  I'm thinking that they're relatively recent (younger) compared to the  removed BK?

[Anonymous]

Thank you both, I know I’m not that crazy especially from reading on the Understanding Fico section daily. On Experian, I have two CO. Opp Fin opened 4/1/2017 and DOFD on 10/2017 the other is Fingerhut opened 09/01/12 and DOFD 10/2013. The fingerhut is not that far off from the start of BK date . I also have a 60 day late from 01/2018 if that matters. Overall utilization is 49% , so I know I’m losing points in that area also. My auto score is super low at 475.

[Anonymous]

I would say that your CO from 2017 is likely the biggest constraint to your score growth at this point, as it's a recent major negative.  The old CO and 60 day late aren't as impactful.

[Revelate]

The big question is what positive tradelines you have.

A BK is a public record scorecard assignment; a CO may not be TBH.  The scorecards overlap, even some in the top 8 pretty(ish) scorecards overlap with the bottom 4, and certainly the 4 bottom ones do.  This is especially likely if you don't have anything else in terms of collections, tax liens, or judgements.

We've had individuals, generally with thin / new files, drop on derogatory exclusions... but the simple fact is any negative that comes off one's report is a good thing, and scores will trend higher over time than if it were there.

[Anonymous]

So it sounds like I got reassigned to another scorecard, still dirty obviously. The positive: I have 13 revolving accounts all paid on time. The two CO’s from above and a 60 day late from 01/2018. Utilization is running high on individual cards , and 49% overall.

I have some old closed student loans from Nelnet around 2015 with 90+ day lates. Forgot to mention that. They are scheduled to fall off in 2022.

I plan to get the card balances down over the next few months, just confused me a bit when I saw the score drops.

[pizza1]

You've been rebucketed again into a different "dirty" profile. Your CO's and lates and high utilization are keeping the scores down now.

[Anonymous]

Oh wow! So you can be rebucketed in dirty files? What are the different catorgories?

[Anonymous]

There are multiple clean and dirty scorecards.  TT has a nice chart on the different ones and I think it may contain some info on what may land someone in one verses another, although it isn't always 100% black or white as to which scorecard someone will reside in based on their profile data.