chele444 Posted March 10, 2008 Report Share Posted March 10, 2008 I have a BK7 that will be 3 years old in may (no we are not planning a party lol). I am wondering if there are any thoughts on how much the age of the Bk matters to your FICO score? Link to comment Share on other sites More sharing options...
jq26 Posted March 10, 2008 Report Share Posted March 10, 2008 I think it matters. It also means that all of the tradelines assoicated with the BK are AT LEAST as old as the BK. Between new positive tradelines and the aging process of the IIB tradelines and the BK, FICO will shoot up over time. I'm 3 years and 4 months out of BK7, so I am right there with ya'. Link to comment Share on other sites More sharing options...
willingtocope Posted March 11, 2008 Report Share Posted March 11, 2008 Which score? The FICO "here's a sucker that CCs can make money off of" score kinda stays flat. They know that you can't BK again for 7 years, but, they also know there's a possilbity you've learned your lesson and won't get suckered again.On the other hand, the "should we lend these people a car loan" score probably went up the day you were discharge. The loans are secured by the car, and they get to charge you high interest because you've had a recent BK.The "mortgage loan" score is affected in the same way. Two years or so after BK, you can probably get a mortgage (today's recession might have some effect on that). We got a mortgage at 7.25% 2 years post BK7. Not great, but acceptable.(The FAKO's you see from the credit monitering scams are closest to the sucker score). Link to comment Share on other sites More sharing options...
LadynRed Posted March 11, 2008 Report Share Posted March 11, 2008 2 years post-discharge is usually a break-point on the impact of a BK, your scores should go up after that point, especially if you've been rebuilding and repairing. I'll be at 3 years post-filing next month, post-discharge in July. Link to comment Share on other sites More sharing options...
Recommended Posts