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DemonPazuzu

To anyone who is 7+ years post CH7 BK

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The accounts that were on the credit report showing IIB drop off after 7....

 

 

If nothing is done to get rid of them, that is. :)

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I don't know. I'll let you know in 2013 if we are all still alive.

 

All of my IIB Accounts should fall off around 6/2013 from my BK. Hopefully then, I'll have them knocked off on my own.

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Okay, I was misunderstanding public record & accounts.

 

The public records stay, but the accounts can drop off...

 

It took me a few weeks to understand that also.

 

I knew BK's were 10 Years, but I was like "what about IIB's?"

 

Gladly, I found out it was only 7 years.

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How much did your FICO scores change once the BK'd accounts dropped off?

 

I'm not at seven but I just hit five (past BK7) and my last IIB dropped. Wait for it......not a thing happened to my EQ or TU score according to myfico.

 

So, others have written that as time goes by they impact the scores less and less to almost nothing by the 7 yr reporting schedule.

My experience back this up.

 

Did I get rebucketed? I dunno I don't think I can find that out.

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I think after 5 Years or so, it's impact is so minimal, there is no impact.

 

Such as how INQ's stay on for 2 Years, but according to myFICO.com they have no impact after 1 Year.

 

So if a late stays on for 7 Years, how long does it impact your score? All 7 Years? That is the only guess we have to go on to be honest.

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When my 3yr old BK fell off, I had a 100 point jump. The older it gets the less of a jump. I guess after 10 years you'll see a jump but not as much as a 100 points I saw.

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How much did your FICO scores change once the BK'd accounts dropped off?

 

 

I can't really say they changed much, but I had a lot going on, on my 7th anniversary ... including buying a house.

 

Unfortunately the BK stays on for another couple of years, so it has kept me from getting credit.. some don't like to see BK on your report period.

 

I did manage to refinance my car this year though (from 7.8% down to 4.5% ) and got turned down a year or so ago.

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How did your 3 yr old BK fall off?

 

Or did you have it removed?

 

right. fall off was not the right choice of words. I meant when I got it "removed".

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How did your 3 yr old BK fall off?

 

Or did you have it removed?

 

right. fall off was not the right choice of words. I meant when I got it "removed".

 

From all 3 CRA's? If so, I'm interested in hearing how you did it.

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From all 3 CRA's? If so, I'm interested in hearing how you did it.

 

No, just from 1. Too lazy to try with the other 2, as all my CC's pulled the clean report and didn't really need the other reports to be clean. I will tackle them if I ever need to use them.

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I think after 5 Years or so, it's impact is so minimal, there is no impact.

 

Such as how INQ's stay on for 2 Years, but according to myFICO.com they have no impact after 1 Year.

 

So if a late stays on for 7 Years, how long does it impact your score? All 7 Years? That is the only guess we have to go on to be honest.

 

I've seen several people achieve 50+ point FICO jumps when their 10yo BK 7 fell off of an otherwise spotless report. So, it definitely can impact in a significant way right up to the end. Very much a YMMV situation, though.

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From all 3 CRA's? If so, I'm interested in hearing how you did it.

 

No, just from 1. Too lazy to try with the other 2, as all my CC's pulled the clean report and didn't really need the other reports to be clean. I will tackle them if I ever need to use them.

How did you manage to get it off? I'm curious. I've tried every which way possible posted on CB. Even so much as had e-mail conversations with TU Exec and Ceo. (The Ceo's convo was actually at my old e-mail address from work, and forgot to forward it when I got laid off) I only have another year and half anyway.. might try later next year towards the fall/Christmas season to get it off as obsolete.. but doubt it will work.

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From all 3 CRA's? If so, I'm interested in hearing how you did it.

 

No, just from 1. Too lazy to try with the other 2, as all my CC's pulled the clean report and didn't really need the other reports to be clean. I will tackle them if I ever need to use them.

 

 

I'm quite interested, too!

 

Was it via a dispute or something that was dismissed and then you got removed?

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I disputed my BK with all 3 bureaus. EQ removed it immediately. TU and EX came back as verified and it remains. I did not see any change in my EQ FICO score.

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It's EQ that I disputed an came off, nothing really special just a regular dispute. I had a clean old report other then the BK so it had a major effect on my score. I went from 705ish to over 800.

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I think after 5 Years or so, it's impact is so minimal, there is no impact.

 

Such as how INQ's stay on for 2 Years, but according to myFICO.com they have no impact after 1 Year.

 

So if a late stays on for 7 Years, how long does it impact your score? All 7 Years? That is the only guess we have to go on to be honest.

 

Perhaps, but on myfico.com, for TU and EQ both, THIS is listed as "What’s hurting your FICO® score":

 

1. You have a public record and a serious delinquency on your credit report - the BK, fine...but...

 

2. You have multiple accounts showing missed payments or derogatory descriptions - the only derogs are the IIB accounts...

 

What's really puzzling is my last late payment was the month I filed BK (Oct. 05) but it says THIS on Transunion:

 

Your most recent late payment happened

3 Years, 5 Months ago

 

Um...where? I can't seem to find it, and I know I wasn't late (plus EQ says it was 5 years and 3 months ago, which matches my BK date), but I look at all my accounts and can't tell where it's showing a late. My guess is that one of the disputes I attempted somehow fouled up the reporting. Still, TU is my highest score so I won't worry.

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I have Ch.7 filed in 2001 . All my IIB accounts disappeared around 05/2002 saw a 60point increase then, but I had added several new tl's too.

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