So I was filed Ch7 in November 2011. I was discharged in March. I reaffirmed one loan (my car) but put everything else in the BK, including my mortgage. As such, my home was foreclosed in May 1.
I've been terrified to check my credit scores since then, but today I figured I could stomach it. I was pleasantly surprised but confused by it all.
First, what I was surprised by. My 3 scores were 614, 607 and 645. This is 2 months after filing bankruptcy and not having paid a single debt (besides Car and Student Loan) since June 2011. Hell, in my younger days I'd have a credit score worse than that without filing for BK.
So here's the few things I am confused about:
1. Payment histories of debts included in BK are wiped out? Noone will ever know I didn't pay Cap One for 6 months prior to filing?
2. My foreclosure doesn't appear on my report. Is that because the debt it secured was included in the BK or has it just not been enough time? (Foreclosure sale was 5/1/12)
3. With a low-600 credit score, am I still in the Secured Card area or should I tough it out a few months with my auto loan (which has resumed reporting) and student loans reporting good payment history and go for a regular card?
All in all, I gotta tell you that from the moment we met with our attorney and decided to file Chapter 7, this was a remarkably painless experience and while I'm not proud of having to file, I know what happened to cause it and I don't have any significant regrets. I would have done it sooner in retrospect to save myself and my wife a great deal of stress.
Anyway, I would appreciate any responses.
I've been terrified to check my credit scores since then, but today I figured I could stomach it. I was pleasantly surprised but confused by it all.
First, what I was surprised by. My 3 scores were 614, 607 and 645. This is 2 months after filing bankruptcy and not having paid a single debt (besides Car and Student Loan) since June 2011. Hell, in my younger days I'd have a credit score worse than that without filing for BK.
So here's the few things I am confused about:
1. Payment histories of debts included in BK are wiped out? Noone will ever know I didn't pay Cap One for 6 months prior to filing?
2. My foreclosure doesn't appear on my report. Is that because the debt it secured was included in the BK or has it just not been enough time? (Foreclosure sale was 5/1/12)
3. With a low-600 credit score, am I still in the Secured Card area or should I tough it out a few months with my auto loan (which has resumed reporting) and student loans reporting good payment history and go for a regular card?
All in all, I gotta tell you that from the moment we met with our attorney and decided to file Chapter 7, this was a remarkably painless experience and while I'm not proud of having to file, I know what happened to cause it and I don't have any significant regrets. I would have done it sooner in retrospect to save myself and my wife a great deal of stress.
Anyway, I would appreciate any responses.
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