....and who was it that taught you BK was like a nuke? Ya think maybe OCs and CAs maybe have something to do with this? Remember, credit scoring has very little to do with rewards vs punishments. It all has to do with whether you are a good risk or not. Those with TONS of derogs and no recent BK are more likely to default or file BK becasue they have that option. This, in a way, makes them a greater risk. A person who filed BK 4 years ago doesn't have that option, making them a slightly better risk. Also, just because someone has a higher score doesn't mean they have better credit. I'll guarantee that my 657 beacon score won't mean squat when I apply for a Home Depot card and they see my 5 year old BK on my report.
Even though I filed bankruptcy last year, I am certainly not living on easy street. My scores are in the low to mid 600's, but mostly because I have had derogatory items deleted by disputing. I did get a car loan at 18.99% and credit cards from sub-prime lenders at high interest rates. Just recently I tried to refinance my home and was rejected due to bankruptcy. I don't think everyone who files bankruptcy has it so easy. You either get rejected for credit or get credit and loans at horrible rates.
