Credit Scores...

[Brookamy]

I filed Chapter 7 and was discharged in March of 2009. I kept my house and continue to be on time with my mortgage payments and school loan. I got a credit card with a limit of $500 and am paying that off monthly. I check my credit scores and have 639, 660, and 641. How bad are those scores? How long before they go up if I continue to keep in good standing?

[frogger]

They're better than my scores, and I haven't filed. Keep paying on time and time will solve a lot of your problems.

[jennordhavn]

Those are pretty decent scores. You could qualify for an FHA loan with those.

[oldhack]

Those are pretty decent scores. You could qualify for an FHA loan with those.

Well, the scores would qualify you, but in the case of a Chapter 7, you have to be two years past dismissal to meet FHA requirements. Chapter 13 filers can apply for FHA insurance after a year of good payments to their plan.

[jennordhavn]

Well, the scores would qualify you, but in the case of a Chapter 7, you have to be two years past dismissal to meet FHA requirements. Chapter 13 filers can apply for FHA insurance after a year of good payments to their plan.

That's true, there are other requirements for FHA, I was just speaking to scores.