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Chapter 13 turning 5 years old

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Anonymous
Not applicable

Chapter 13 turning 5 years old

My chapter 13 case turns 5 years old in September. It was dismissed in May, last year.

Will I see any kind of score boost when it turns 5 years old since filing?
Message 1 of 6
5 REPLIES 5
Shooting-For-800
Senior Contributor

Re: Chapter 13 turning 5 years old

I doubt it.

Probably a tad better than 4 years ago and a tad less than 6 years ago.

Until it falls off, I doubt there will be any major jumps.

So notice some gains slow and steady until it falls off or caps out around 750.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 2 of 6
Anonymous
Not applicable

Re: Chapter 13 turning 5 years old

Thank you.
Message 3 of 6
pizza1
Community Leader
Super Contributor

Re: Chapter 13 turning 5 years old

@Anonymous ,  a dismissed BK13 is treated just like a discharged BK13 in the sense that it will still drop off your reports 7 years from your file date.  The fact that it's dismissed has no bearing on that, but  the fact that you filed still does.  You can still request EE from the CRA....

 

EQ-1 mo early

EX-1-3mo early

TU-6mo early

Message 4 of 6
Anonymous
Not applicable

Re: Chapter 13 turning 5 years old

Thank you! I was curious about EE, unfortunately it’s not going to come off until September, 2021.

At least I’ll start being able to see some gains around March, 2021 with TU!
Message 5 of 6
dynamicvb
Valued Contributor

Re: Chapter 13 turning 5 years old


@Anonymous wrote:
Thank you! I was curious about EE, unfortunately it’s not going to come off until September, 2021.

At least I’ll start being able to see some gains around March, 2021 with TU!

You can see gains before the bk falls it will just keep you in a dirty scorecard until it falls so score gains are depressed. Since it was dismissed then I’m guessing all the creditors included have updated and want their money or sent the stuff to collections. Any of these items you can get gone with pay for deletes or just paying so they don’t update will help. Getting some positive trade lines reporting will help it start to come back too. If you post your scores and a list of accounts over in the rebuilding forum, someone will be able to give advice on how to attack these.

 

when I started rebuilding still had my bk on and my scores where the beginning scores in my sig. I did not do anything for the first year after my discharge. Mine just fell in May from all three and I was well over 700 before that happened. You could probably be in better shape than me by the time yours falls

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 5/28/20:


First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 6 of 6
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