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What is your credit score after filing chapter 7?

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2011-04-29 20:21:09
2011-04-29 20:21:09

There is no set credit score that everyone is assigned after filing bankruptcy. How much your credit score drops depends on a lot of factors, including how many debts you discharged, what your score was before you filed, how many secured debts you reaffirmed, and what type of debts were discharged. Hope this helps!

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Whether you are filing Chapter 13 or Chapter 7 bankruptcy, your credit score will be directly impacted for 7-10 years AFTER you exit protection.


Most likely, yes. One of the biggest effects that filing for bankruptcy has is on your credit. Bankruptcy will stay with your credit for roughly 10 years and because of that your score will decrease, at least initially.


I filed Chapter 7 last year and when I applied for a credit card this year I was denied and the reason was "bancruptcy".



Yes converting a Chapter 13 to a 7 will further lower your credit score. It will show up on the public records section at the begining of the credit report. Once as an terminated chapter 13 and a second public record showing the filing of the Chapter 7. Each public record reduces your score. You can potentially be discharged from a Chapter 7 sooner and that's will be the time the clock will start ticking to eventually make it disappear from your credit report which I believe is 7 years for most derogatory entries


can you change your filing from chapter 7 to chapter 13 ?


It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.



Yes you can if you have a fair credit score.


You may file for Chapter 7 at any time after filing Chapter 13.


Your credit rating after bankruptcy is based on a number of factors. Many people are consider a good credit risk after bankruptcy if they have no debt and a job. Visit my web site for an article on rebuilding credit after bankruptcy: http://www.chs-law.com/2005/05/rebuilding-credit-after-bankruptcy.HTML.AnswerMy score raised from 530 to 572 when I received my chapter 7 dicharge.



Bankruptcies are a matter of public record and this is why they appear in credit histories. A Chapter 13 listing will remain on your credit report for seven years from the filing date and a Chapter 7 will remain on the credit report for 10 years from the filing date. The credit report entry will state the bankruptcy was filed and dismissed, not discharged.


Unfortunately, filing for bankruptcy has a major negative effect on your credit, which as you probably already know can effect a lot of your future money issues. Bankruptcy, whether chapter 7 or chapter 13 stays on your credit report for at least 7-10 years after filing and just because it is off does not mean that your score will automatically increase-that is something you have to work for!


Though legally it can be reported for up to 10 years after filing, most credit bureaus remove Chapter 13s after 7 years.


Yes. That reporting to a credit agency of an item of fact, is not an attempt to collect the debt. Your not expecting you mortgage debt to be discharged are you?


In a Chapter 7 bankruptcy, a person filing for relief is called a


No, in fact it will leave a Bankruptcy record on your credit report for 10 years.


I disagree with the earlier comment. As documented in many places, the date of FILING is what matters. It will stay on your credit report for 7 years from the filing date


There is not a specific score that your credit drops to after a bankruptcy. Your credit doesn't only depend on that one thing, but the rest of your credit history as well, and sometimes it will go up on certain credit reports since now you will compared to other people with bankruptcies on their record, instead of other people without. See the related links for more information.


You must wait 8 years after the filing of the petition before filing another chapter 7.


about 4-5 months after filing chapter 7.


7 years from discharge (not filing, but actual date of discharge) of a Chapter 7. Don't know about a 13.


It will approximately take Ten years from the date of original filing of bankruptcy.


The income you make after filing for chapter 7 does not count. What counts is all you had before filing.



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