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Tuesday, September 8, 2015

Credit Score Trend- First Year After Bankruptcy

During the first year after being discharged from bankruptcy I have kept a pretty close eye on my score. I am not sure financially it has been completely worth it but at least I have been able to monitor it so that someone else may benefit from my trends.

If you are unsure about what an Equifax credit report looks like you can view How to Read your Equifax credit report

So far it is very clear what has helped and what has not. Seeing as I have many pointless reports I wish that I actually got one while bankrupt but I did not, which means I am not completely sure if my report ever changed to R9 like it was supposed to.

 I did get one days after being discharged, it was before the discharge appeared on the report.

My credit score was a whopping 434!

  I waited a few months to see if the incorrect information would get updated. With the credit monitoring package you can only get one report every quarter. I applied and got set up with my Capital One Secured Card right around this date as well.

I wrote about that process in the post My First Credit Card After Bankruptcy

In January I got another updated report. It had gone up to 471, which is not to bad for just 4 months after bankruptcy.

By April it had gone up another 20 points.

For some reason in June it dipped back down a few points to 488

By August it went back up to 491.

491 on August 8th. This is the report that I used when calling Equifax to dispute in my previous post
Incorrect information on my credit report after Bankruptcy

Just a few days later after getting an alert that my report was updated, I paid for another report.

My credit score then jumped by 73 points between August 8th and August 14th.

 I won't be able to get another report until November 8th. I have some credit moves coming up soon (purchasing a car) that may make this report an interesting one. I am anxious to see if this is going to drop it significantly or raise it up. If I make the decision to sign the papers.