I’ve done great since my chapter 7 discharge. Got .2 decent credit cards and pay them off every month. It’s been 7 months. I sold my car and paid off the loan and my score dropped 15 points even though I have a small personal loan to keep my mix. Is this unusual?
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Where are you getting your scores from? If the likes of WalletHub and CreditKarma, those scores are irrelevant as they are Vantage scores which are virtually unused by any underwriters. If you got your scores from the likes of myFICO, then any score drop is likely transient and will most probably bounce back next month.Chapter 13 (not 100%):- Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank cum Bank of Southern California
- Filed: 26-Feb-2015
- MoC: 01-Mar-2015
- 1st Payment (posted): 23-Mar-2015
- 60th Payment (posted): 07-Feb-2020
- Discharged: 04-Mar-2020
- Closed: 23-Jun-2020
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Experian. I’ll keep watch. ThxComment
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The drop is likely that you only have one installment loans on your credit report. A car loan is such type of loan that the score likes to see on the report. But, from what I can tell, it likes to see two. Typically it wants to see a mortgage and another installment account. Maybe shipo has some other experience to share.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.Comment
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Hmmm, that is a FICO 8 score; my bet is it will bounce back soon.Originally posted by Flgranny24 View Post
Chapter 13 (not 100%):- Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank cum Bank of Southern California
- Filed: 26-Feb-2015
- MoC: 01-Mar-2015
- 1st Payment (posted): 23-Mar-2015
- 60th Payment (posted): 07-Feb-2020
- Discharged: 04-Mar-2020
- Closed: 23-Jun-2020
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does wells fargo use the FICO 8 score???Comment
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