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My Score is Whack...(Crazy Story)

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    My Score is Whack...(Crazy Story)

    Explain this to me...

    Got discharged on 6/15/2010, this year, less than 2 months ago. My score is up to 707 already.

    Here's why, and you tell me if this makes sense, because I have a close friend in mortgages (who has been pulling/monitoring my report/score for me), and she is shocked. Said she has never seen anything like it.

    - I defaulted on over 60K in credit card debt as well as a car lease that was eventually sold at wholesale right before filing. They said I owed them 17K after the sale. Before I filed I was late on all these payments by around 8 months. Score was below 500.

    - Before filing I replaced the vehicle with a car loan cosigned on by a family member. Paid that throughout and retained it through BK.

    - Kept my mortgage and 2nd mortgage current throughout BK. Both have a 4 year good payment history.

    - I got a credit card from my credit union with $2,000 limit before BK. They let me retain it through the BK. I am using it currently. Carry a balance thru the 1st of each month so it reports to bureaus as being used with a balance, and pay it off each month.

    - I got added (after BK was discharged) to a family member's card as an authorized user. Was approved through AmEx as an authrorized user with own card. There was some debate about whether this would do any good. It did, score jumped after that addition. Only reason I got approved though was my score was around 650 to begin with.

    Thoughts? Am I just really, really lucky? All my scores are right around 700. Any insight as to how this happened so quickly?

    #2
    Yeah, I'm in a similar boat, and I didn't even do as much work as you have. And my discharge was only a few weeks ago. Went from the high 300s to the mid to upper 600s.

    I guess we're just lucky..

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      #3
      I have no expertise so this is just an opinion or possibility. Are the scores you are now seeing your true FICO score (range 300-850) or the new Vantage Score system (range 501-990). I use Truecredit monitoring system and I know that they now use the new system and not FICO anymore. When I first saw my numbers were in the mid 700's I was extremely excited until I learned that it was on the new system. The Vantage system has higher numbers but can be deceiving as this generally does not mean your score is higher, the number range is just higher. (Hope that last sentence makes sense.)

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