Just checked credit score

[paulkchoi]

Chapter 7 was closed on 6-11-10. I was going to wait the recommended 2 months before checking my score but I couldn't wait. After debating and researching which website to use, I narrowed it down to myfico. But then they have like 4 different products to choose from. Reason won over emotion and I bought the one time fico score for $15 and change. However there is a promo code, fico25 or a boatload of others, that reduced it by 20%,
so it was about $12. Much to my surprise the Equifax score was 633. I was expecting much lower. I know that they gauge the score according to others that have declared BK and not to regular folks. This was my score before declaring BK, and I wasn't behind in payments just a very high debt load.

[rck3]

That is what I wonder though from what I gather even if I had an 800 credit score after my BK it would not matter since the BK itself would outway the score. We have a 720 now and are the same, never late and pretty much perfect credit outside of $100k in CC debt and all the cards have lowered the limits which means I show maxed out. I honestly think my score will be in the upper 600's after BK but again the BK is going to make that pointless.

[paulkchoi]

Just for the heck of it I paid for the transunion score. (with the promo code) It was lower, 609. I would have thought that score would've been higher. They should call them the fickle scores.

[Amy26]

Hehe ya, I hate credit scores. I actually pay for the services directly with equifax and trans union and experian themselves. My trans union score is way higher than the rest of my scores... I believe its because 1. most companies check experian or equifax over trans union (my trans union inqueries are much much lower) and 2. I only have 2 derrogatory accounts on my trans union... all my other IIB accounts are not showing up as derrogatory... I actually called to dispute the 2 derrogatory ones and the lady said "when you do BK, they are supposed to be derrogatory. You only included 2 accounts in your BK".... I laughed and was like umm no... she said if I wanted to fix it I would have to include all the other accounts as derrogatory too... I was like... umm... no that's ok.

[backtoschool]

A lot of people's scores go up after bankruptcy because the there is no debt showing up on the report anymore and because bankruptcy filers have their own fico "bucket" and you are compared only with others that filed, at least while the bankruptcy is showing up on your reports.

But having the public record of bankruptcy on your report pretty much guranteeds that no major bank will give you unsecured credit for a long time no matter what your score is. It also guarantees that you will pay higher interest rates for auto loans (except through a credit union) for a few years. Non fha or veteran's mortgages will also come in at higher rates with the public record on your reports.

I watch my score only to monitor where I will be in a year and a half when I buy a house. It is useless to me otherwise.

[mom2three09]

Not being late on payments pre-BK will help your POST-BK score a lot. We had not paid our CC's in about a year so as you can imagine our scores were tanked by the time we filed. And 7 mos. post BK they are still in the 500's