I am trying to get my scores up. They are running 615-620. Since my chapt 7 bk 4 yrs ago, I have built up great credit, bought a house, paid off cars, have 3 major credit cards and havn't missed a payment in 4 years. So why the low scores? It appears that the CB are taking off points for the BK, plus taking off points for each acct I filed BK on. Is this the correct way for them to do this? Thank you
One would assume with a Bankruptcy file on your report (public record) it would HURT your score, not help it. Afterall you had your debts written off so to speak and didn't pay them therefore you are a high credit risk. Once it falls off and you keep the excellent credit rating you currently have your score should rise up. My score sucked majorly and I too obtained new credit, purchased my home, and bought a new car all while the record was on my file. I also paid on time and kept my credit very clean. Once the bankruptcy fell off in 10 yrs my credit score rose alot.
Yes, this is normal. Try to get some of those bad accounts deleted. My Chap 7 was discharged about one year ago, and my scores are already in the mid 600's. (647 on Equifax, for example.)
Have you tried disputing the bankruptcy with the CRA? I did that with all 3 and Equifax deleted it. I am waiting to hear from the others. I still have some of the accounts that I filed on however, but am working on getting them removed. I was able to lose a few so far.
