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Question By
lynniethevette

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0 People Helped
Will score rise with 100% on time payments but with a BK on file
Filed Chapter 7 in 2009, credit card debts were discharged.

Maintained my home mortgage, got an unsecured credit card that is always paid on time, got a new car in 2013 always pay on time. I have many old seasoned accounts that were always paid on time prior to the BK.

Filed BK due to job loss, but have never missed a payment on anything since the day I filed.

Current score is 697, which is Fair. Will it ever go to 700 or more and show as good before the BK drops off?

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Yes it will...

Helpful to 1 out of 1 people

I had a ch7 discharged in July 2013. My score was 499 that month. It is now 622 (EQ Fico) and climbing steadily. It will probably go up another 10 points once I pay one of my credit cards back down to 15% on the 3rd. I have 2x car loans (2013 Accord & 2013 Rogue) and 3 credit cards (one secured) all after the bankruptcy was discharged. Actually, I got a third car during the bankruptcy proceeding from a pre-discharged lender called National Auto-Broker. I traded it in after the discharge in August for the Rogue. Once my score is above 700 or 6x payments, I will join a credit union and re-finance them both for lower interest rates. It should be ok to do so from what I have read on here and from what lenders have suggested.

So yes, it definitely gets better! Pay on time, 10-20% credit card utilization, minimize inquiries and you will be at that score sooner than you think. My goal is 740 for a VA mortgage. Since I have to wait 2 years post-BK for them to accept me, there is no doubt in my mind I will get that score! Good luck!

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what was your starting score?

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