I don't know where to being...please bear with me... My info: Filed for Bankruptcy Ch. 7 April 2003, Discharged July 2003 I decided to purchase MyFICO.com 3 credit reports and 3 credit scores.... TU: 755 (no BK on file) only 2 active accounts showing, 1 car loan and 1 $300 credit limit secured American Pacific Visa and no other history! EQ: 757 (no BK on file) Showing ALL old good accounts closed, 2 active accounts same as above EX: 702 (BK on file) showing same as above...including 7 that was included in BK and 2 active accounts My wife's info: TU: 675 (BK on file) EQ: 654 (BK on file) EX: n/a will call to verify her personal info tomorrow Earlier this year I subscribed to PG's which all includes in BK, and lower credit scores between 596 to 650 and all of sudden TU and EQ doesn't have my BK on file!!!!!!!! What's going on? should I DO NOTHING about TU and EQ about not having BK on both files? What are my chances if I decided apply to get pre-approval with mortgage lenders and/or brokers? Thanks in Advance on your insights! Tom Gagliano
I was just discharged in July 04, and when I pull my reports through Privacyguard the BK is only on exp - not on eq or TU. I wold suggest that you pull each of the reports separately from the individual bureaus to confirm that myfico has the right information. If so, WOO HOO!! However, I believe that mortgage lenders and car lenders, among others, have access to special versions of your reports which may still show the BK, so don't expect to slip by them. Good luck Poochie
OK, what about FICO scores? I thought that FICO is the TRUE score? For my wife's does her scores makes sense while all files includes BK? TIA! Tom Gagliano
Yes, Fico is the trademarked score that we read about. Your wife's scores make sense if she had a long history before the bk, and has used credit wisely since then. There is no rhyme or reason to the scoreing models. When my Bk was discharged, my equifax score was 606, and my husband, who has little derog and a long history was 630 due solely to utilization. When I successfully disputed the BK off my records my score dropped by 12 points - go figure. I've seen people on these boards with scores up over 700 12 months after discharge with the BK still showing. But, again, mortgage lenders have access to reports that we can't pull for ourselves, so don't count on having your bk hidden on those files as well.
Yeah...when we will apply for mortgage...their forms I beleive will state "Have you EVER filed for BK" which I'll say Yes... I have no shame for filing BK...live and learn and get wiser! When that happens when we apply for mortgage while my middle score is 755... will mortgage give me the best rate with no down payment, etc... while having prior BK? We'll apply for mortgage when we pass 2nd year mark from BK this July 2005. Thanks again! Tom Gagliano
Two years seems to be the magic number to pass in order to get good mortgage rates post BK Remember BK 's are public records, and lenders often utilize not only the info on CR's but info from other sources that specialize in searching public records for BK's, Judgments, Liens, etc. These records stay on the courthouse rolls for 20 or more years, even though they cannot be reported for more than 7 (or10) years on a credit report. It's possible that your wife's name and SSN was listed first on the BK papers, and that is the one the CR's picked up on which is why it is not showing on your CR's
Why do anything? A lot of people would be glad that a BK does not show up on your CR. You might sign up for one of the CRA's score simulators, and input the BK info to see what effect that would have on your score. That should give you a "ballpark" figure that the mortgage lender would come up with if they took your score and the BK into account when you apply
Ok, with those scores... (mid 700's, 2 not reporting BK, Experian reports BK) what are my chances of applying for credit card... I need 1 or 2 more because mortgage would want to see 3 to 3 active cards 2 years post-bk... what should I apply for? prime? how about USAA Credit Card? I have USAA checking, savings and debit card from them... Patelco? DELL? I already have $300 secured American Pacific Visa for 1 year already TIA! Tom
