FICO scoring 2 years post discharge…

QuestionsFICO scoring 2 years post discharge…
asked 4 years ago

There is a forum post here from a BK7 filer who is suddenly a FICO expert.  I believe the post is full of information that is just wrong.


Paste below…  I’ve highlighted my issues in red.


I have extensive experience with this topic.  I recently called Experian to straighten out a few things.


1) BK will stay on your CR for the legal time period (10 years for BK7)


2) All acounts IIB will report as derogatory.  The scoring will have a negative impact for 2 years post discharge.  Then your scores will improve and the derogatory tradelines will not affect your score 2 years post discharge.  The 2 years to 700 road map worked for me.  So after 2 years post BK7, you will get re-bucketed until the BK7 ages off.  There are 2 negative buckets and 6 (or more) positve buckets.  So once you go from negative bucket 1 to negative 2, your scores will be range bound.


3) I had a Charge-Off that was IIB and I asked TU for an Early Exclusion and my score DROPPED because I lost AAOA as this was a 15 year account and my AAOA is 9 years.  So this dropped my AAOA by 6 months.


4) So 2 years post discharge, the scores will be “range bound” from 700~730 for the remained of the BK reporting.  Once the BK ages off, scores jump 50~100 points.  So if your file is clean until the BK ages off; your scores should be near 800.



So bottom line, keep your file clean after BK7 discharge.  Continue to improve scores to the 700 mark at the 2 year discharge date.  The “2 year to 700 Guide” from Soul Master is a great roadmap.   All Tradelines that are IIB add to the AAOA and are a POSITIVE (assuming your T/L is a higher age than your AAOA).  There is ZERO advantage to remove the IIB accounts UNLESS they negatively affect your AAOA.  Of course YMMV.


Ironically the poster also claims that because I filed BK13 that the info in red doesn’t apply to me… did I mention that today is my 2 year discharge date and my scores haven’t moved?


Bottom line is OP is saying FICO score isn’t affected by an IIB TL 2 years after discharge…


I say that is completely and totally 100% wrong.  BK13 or BK7 doesn’t have a thing to do with it.

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