Credit Score - How can I Increase It?

Posted by admin on October 18th, 2007 at 04:17pm

Q. just checked my score on Equifax and the number is 681. I filed bankruptcy

in 1997 and it was discharged in 1998. I own my home and have never been

late with my mortgage payment since I purchased it in 2000. In addition, I

have two credit cards that I’ve never been late with and I also pay more

than the minimum monthly payment. I’ve had these cards for several years.

My debt is my mortgage and two credit cards with a balance of 900.00. My

salary is 120,000.00 a year. My wife is a stay at home mom. Should I not

expect my score to go any higher until 10 years after discharge or should I

expect this to occur within 7 years of discharge?

What should I expect my score to go to when the BK is no longer factored

into my score?

How often is my score evaluated for possible revision and who does the

revision?

A. -Your score is subject to change at any time. It may change whenever

the credit report is updated with anything.The credit bureaus produce

the score and it is based on a mathematical formula of many different

factors. Your salary is not factored

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