FICO SCORE INCREASE

[sgmjqb]

I had a total of $61,000 worth of credit card debt spread over six cards, and this week I paid off the entire $61,000 balance. I have no late payments or collections. My BK chapter 7 is due to expire at the end of the month. How much of a rise can I anticipate for my credit score in the big picture? I did not close any of the credit lines that I had open.FICO

[SouthJamaica]

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@sgmjqb wrote:

I had a total of $61,000 worth of credit card debt spread over six cards, and this week I paid off the entire $61,000 balance. I have no late payments or collections. My BK chapter 7 is due to expire at the end of the month. How much of a rise can I anticipate for my credit score in the big picture? I did not close any of the credit lines that I had open.FICO

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You can expect a very large increase.

Make sure to let one bank card report a small balance each month before you pay it off.

[OmarGB9]

There's just no way to give you an exact amount. But it should be pretty significant.

[righthererightnow]

Congrats on the rebuild....this is major progress! Inspiring!
Possible 100+ point boost... or more...
(ie: I got a 15pt boost just for decreasing utilization, you are making major changes here).

[FireMedic1]

Congrats! Hammertime! Let us know the outcome please!

[2b2rich]

This is the sort of goals so many of us are striving for, contrats on your success and yes please come back and let us know what score you end up with!