Credit score after bankruptcy removed?
Date: Sun, 11/15/2009 - 09:08
My Chapter 7 bankruptcy will come off my credit report in a few months. What kind of improvement I can see in my credit score, which is currently 595, once the bankruptcy is officially gone?
If more info is needed here are other items on my credit report: Mortgage & 3 credit cards in good standing. About 10 small medical bills in collections shown as negatives & a 2003 car repo.
I plan to pay for delete on the med bills, one by one - hopefully as each one is removed that will help raise my score too although it may be 6-9 months before they are all gone.
If more info is needed here are other items on my credit report: Mortgage & 3 credit cards in good standing. About 10 small medical bills in collections shown as negatives & a 2003 car repo.
I plan to pay for delete on the med bills, one by one - hopefully as each one is removed that will help raise my score too although it may be 6-9 months before they are all gone.
Well you might actually see your score drop when it is removed.
Well you might actually see your score drop when it is removed. Currently your credit profile is calculated based on an algorithm that compares you with other consumers with a BK. Once the BK has dropped, then they use a different algorithm to calculate your score. Getting rid of the 2003 repo and collections will give you the boost you'll need when the BK drops off.
