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How will Chap 13 Bankruptcy coming off of reports affect my credit score?
Here are the details: I have perfect credit since the bankruptcy. Avg age of lines is about 3 years though, due to fairly new credit. All payments on time (230+ and counting). I have about $25,000 in credit available and use about 3%. My score can't seem to break 700, on CK it's currently 691. It's been between 691 - 695 for over a year. I have a mix of 1 student loan (balance ~$3,000), 1 installment personal loan (balance $1000), 1 "CareCredit" Card - used w/ vet bills, etc. (balance $400) and 4 credit cards (pay off balance each month). I should have 2 inquiries still on my record when the bankruptcy comes off (I have 4 now).
Is this enough information to guess as to what the bump (if any) to my credit score will be? I really can't figure out why my continued good credit refuses to make it budge. :( Finally, I am considering buying a car (w/ loan) before the bankruptcy comes off, but will likely wait since it will mean a better rate. Thanks in advance for your help!
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nathanmedic
1 year ago
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Forgot to mention: debt to income ratio is 3 - 4% and I use about 3% of available credit currently.
nathanmedic 1 year ago
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Forgot to mention: debt to income ratio is 3 - 4% and I use about 3% of available credit currently.
nathanmedic 1 year ago