Originally posted by Exployer1234
View Post
-
This is not entirely true, it depends on the bank. We never reaffirmed our mortgage and the bank has continued to report our payments. It has helped our scores tremendously. Most banks will not report to the credit bureaus, but there are some that do and it will help. -
Remember that any negative that first hits your report(s) will bomb your score(s), as that negative ages, the impact is less. Each negative is weighted differently, in this case we are talking about a BK appearing on your report(s). Devastation to the scores.
A BK (a Pub Record) is one of the most devasting things you can have appear. It can take, I would say, a minimum of one year to begin to heal from it.
hth some -- it's complicated on how it works and IS unique to everyone's situation.Leave a comment:
-
Sorry, but that info is wrong. It has to be reported as $0 and if the balance field is left blank, it might even hurt your score more.Originally posted by Exployer1234 View Post
It is possible that the reporting of a charge-off on an account that was IIB is actually accurate. If the account was charged-off PRIOR to the BK-Filing, they can also report it as "Charged-off - Included In Bankruptcy".Originally posted by Exployer1234 View PostLeave a comment:
-
I just checked my credit this evening and mine ranges from 598-624 depending on what credit bureau. I did have to dispute how some things were worded on my credit report. For example one credit card was listed as charged off. The creditor was included in bankruptcy. Another collections account was also listed as charged off.
First I would see if there are any disputes on your credit report. You should not have any balances on your report. Not even $0. Next all accounts need to say Included in Bankruptcy. They should not be listed as charged off. Once you have done this recheck your credit score in about a month. You may have to dispute the items a couple of times.
Also prior to BK it is always a good idea to check what your score was. My credit score had tanked prior to BK. I had a repossession and judgment listed on my credit in one month. It dropped my score and has prevented my score from being 680.
Another thing if you did not reaffirm the mortgages then it will not show up on your credit that you are paying them. That will go for the car loan as well. It will not rebuild your credit, because the debt was not reaffirmed the debt and it was discharged in BK.Leave a comment:
-
actually i think it has to do with more than getting a credit card and paying it.
first we had established PERFECT credit for over 40 years. we only stopped paying our cc's when the filing of the bk happened so we didn't have a long history of late payments etc.
so i think it may depend on a few things...not just re-establishing credit...but your credit history as well.....but then actually our history's seem similar???Leave a comment:
-
When does it go up? I thought the only way was to get a credit card and pay each month? How long did anyone's credit score took to go up?Leave a comment:
-
yes ours are at 690 and 685....for the moment...
your's will go up...why you planning on getting a credit card??? LOL!! that's a JOKE!!!Leave a comment:
-
Omg...my credit score is 550..discharge 9/23/2010
I thought that it would be in the 600's..not this low. I have had credit for 36 years and have paid my debts and was never late before the BK...I had 2 previous mortgate paid off, several credit cards and a couple of cars. Why is this so low? I hear everyone on this site saying they have a 680 or so right after BK. How long does it take to bring this up? I am still paying for a car and have not been late and a couple of mortgages that I did not reaffirm but paying on...and the mortgages are being listed on my reports.
Help!!! How can I improve this?
Leave a comment: