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BK Discharged, how long to 700's?

Discussion in 'Credit Talk' started by gagliano3, Oct 17, 2003.

  1. Oct 17, 2003 #1
    gagliano3

    gagliano3 Well-Known Member

    Is it possible to reach or exceed credit score of 700 plus post-bankruptcy? how long on average does it take as long as I pay on time, etc...Right now I have a Honda Finance auto loan that's never been late and I should get American Pacific Bank secured Visa $300 anytime now (I was approved)

    PG shows Equifax credit score of 546 and TransUnion shows 489 on September 14, 2003 (it was littered with balanc oweing, charged off debts, in collections BEFORE I disputed them, right now it's all clean with few accounts included in BK with the rest old tradelines which were perfect.

    TIA!
    thomas gagliano
     
  3. Oct 18, 2003 #2
    lbrown59

    lbrown59 Well-Known Member

    Scoring and credit reports are rigged against you.
     
  4. Oct 18, 2003 #3
    Melissap1

    Melissap1 Well-Known Member

    I only know of one person claiming 700's after bk. two years past with perfect credit and lots of older good TL's still showing. So I have hope that it can happen to me, but it's not common.
     
  5. Oct 18, 2003 #4
    lbrown59

    lbrown59 Well-Known Member

    The way the deck is stacked against you even if one ever did reach such a score it probably would not last very long cause some thing is bound to happen to tank your score.
     
  6. Oct 18, 2003 #5
    Brad J

    Brad J Well-Known Member

    Unfortunately that's true. You work so hard to get to 700, then make a large purchase, open a new account, or become the victim of inaccurate reporting, next thing you know your back down at mid 600's again.
     
  7. Oct 18, 2003 #6
    lbrown59

    lbrown59 Well-Known Member

    Re: Re: BK Discharged, how long to 700's?

    How can you tell its rigged to work that way?
    Because that is the way it works!
     
  8. Oct 18, 2003 #7
    supershawn

    supershawn Well-Known Member

    Re: Re: BK Discharged, how long to 700's?

    I am well over 700 now. 5 years after BK.
    I was in the mid to high 6's two years after and went up from there. The 700 and+ climb took the longest.

    I have documented my steps before, so just do a search, but for an example, at 5 years exactly (just a few months ago) I was:

    -Over 38k in avail credit on Amex Green, Amex Blue, CapOne(3), Prov(closing now but at 9500 cl).

    -200k home refi'd at 4.5%

    -second home refi'd at 5.5% (136k)

    -Vehicle at 7.45% (2 yrs ago)

    My scores vary but are min 720 max 750.

    Learned a big lesson and I am EXTREMELY cautious now. BK is NOT a 'bad' thing if you do it with respect and learn from your mistakes.

    Shawn
     
  9. Oct 18, 2003 #8
    Nineflies

    Nineflies Well-Known Member

    Re: Re: BK Discharged, how long to 700's?

    I'm one year out and have a middle around 700 last time I checked. It has been a while since I purchaced TU, but I have a week old EQ at 704. It can be done, but it is not easy.
     
  10. Oct 18, 2003 #9
    Brad J

    Brad J Well-Known Member

    Re: Re: BK Discharged, how long to 700's?

    Strange. I've heard that no one gets an AMEX card with a BK.
     
  11. Oct 18, 2003 #10
    supershawn

    supershawn Well-Known Member

    Re: Re: BK Discharged, how long to 700's?

    I have two. Green that I kept in BK and Blue that I have only had a short while.

    I also have a LOC with Amex. They have treated me very well...especially when I had to dispute a wrong charge on my card.

    I know of several other people who have Amex cards with a prior BK as well.

    Shawn
     

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