Major Wake Up Call - Regarding Real FICO Post BK

[Pizza]

We replaced a clunker post-BK. The payments on the new vehicle will certainly help the credit scores improve. Every offer for a credit card has gone straight into the garbage.

[PhillyGuy]

As someone who watches their scores and reports like a hawk, here are the numbers:

Fako: Equifax: prefiling 795, after discharge 681, Current: 665
Fako: Experian: prefiling 796, after discharge 716, Current: 720
Fako: Transunion: prefiling 741, after discharge 674, Current: 683

MyFico: Current - Equifax 647, Experian 626, Transunion 687

So you can see there is a huge swing between reality and fako's in some cases.

And I have not received 1 cc offer, I filed over a year ago, discharged earlier this year and still not closed. Plus, make over 100k year. Go figure.

[bcohen]

I don't recall getting many offers when we were in a CH7.... We probably got a few, but I don't recall being flooded with offers like I have read of.

Did you have non-dischargeable debt, recent charge-offs, recent collections, etc? I know that when I filed for Chapter 7--literally within 7 days of filing and getting my case number--my mailbox began to fill with offers for car financing. Once my discharge was entered--but before I even received the discharge papers in the mail--I started getting offers for credit cards, payday loans, and "short-term personal loans" which I guess is just a fancy word for payday loans? Anyways, I have received some pretty good offers, as Capital One keeps sending me offers for an unsecured "platinum" credit card. I also got the dreaded "offer" from First Premier for a credit card with a whopping $700 limit, about 25% of which comes pre-gobbled up by the application fee, account setup fee, and annual fee.

[Pjmax]

If it says Fico©, you have a Fico score. Myfico is the only place you can buy a Fico score. Just be aware, there are different versions, and a particular lender may use a different one, so your score can still vary.

[IBroke]

Do you think the 682 is a real score?

Since you obtained it from myfico.com, it certainly is.

[grndmom53]

I just checked my score on myfico.com. It says 682 on Equifax.. I also signed up a few months ago for monthly credit monitoring. We will be done with our 5 year Chapter 13 plan in April 2014 & I guess I am anxious to get things cleaned up.

Do you think the 682 is a real score?

[avengers]

Why does it appear that people who file 7 get credit offers and people who file 13 don't?

From what I've been told, people who were discharged under 7 very recently are actuallyvery good credit risks (relatively speaking, of course): 1) they can't file bankruptcy for 8 years; and 2) they have no credit card debt.

[stevie2012]

I got the secured from my credit union and it increased my FICO (real FICO) 20 points. I subscribe to score watch on MyFico.com

[jst4f]

We got both credit card offers and car loan offers shortly after discharge. Now that we are two plus years post filing, we are getting offers from mortgage brokers to get home loans or refinance our current mortgage. Your BK records are public and it is being watched by those that feel they can benefit by your situation, of course all in the name of wanting to help you. Read the offers carefully for the ones that will help you.

[stevie2012]

I didn't get any offers - the only ones I got were for car financing. I did get approved for the Cap 1 card too and that is all the cards I want to help reestablish credit. $200 CL on the Cap 1 and $250 on the credit union one - both secured.

[stray]

DH got offers for car loans just after Ch 7 filing. I didn't. More accounts were in my name when the you-know-what hit the fan. The mortgage is my name too, didn't reaffirm, don't know if that had anything to do with it. A year later now, we just received a Capital One card for DH, $500 credit, no annual fee. Used it and our first bill is due in a couple of weeks. I only received one offer for a secured credit card, and didn't do it. Only know "fake" FICOs and we are 633 and 637.

[rt31]

I don't recall getting many offers when we were in a CH7.... We probably got a few, but I don't recall being flooded with offers like I have read of.

We filed in June, 2012 and were discharged in September, 2012. In October I started receiving offers and was approved for a unsecured Master Card with no annual fee and 6 mos interest free in November, 2012. This was thru Capital One. I couldn't and still can't believe the number of offers we have gotten and still are getting. Also, our case has still not closed.

[AngelinaCat]

I don't recall getting many offers when we were in a CH7.... We probably got a few, but I don't recall being flooded with offers like I have read of.

[mdl]

Why does it appear that people who file 7 get credit offers and people who file 13 don't?

[stevie2012]

I'm curious about my post-BK FICOs as well, but I can't bring myself to fork over the cash to find out. I feel like they are what they are and what I'm doing now is the most I can do to improve them, so knowing the exact number isn't important enough to justify the money.

Did you try Capital One? They gave me a 2K Visa and a 1K MC and I'm less than a month out. FYI, I somehow had two zero-balance credit cards survive my BK and the limits on those are pretty solid (10K and 7K), so that may have helped.

Yeah I applied with Capital 1 also, but no word yet. I only wanted two secured cards with low balance so we shall see.