It depends on what your credit score was before your filed bankruptcy. If your credit score was low before your filed bankruptcy, then after your bankruptcy is discharged, if you send a copy of your Schedules and Discharges records to all three credit bureaus; Trans Union, Experian and Equifax and ask them to zero out all the past due balances now that you do not owe them anymore then your credit score will more than likely be higher than before you filed. Also, your bankruptcy filing is picked up under the Public Records section of your credit report, however, after 12 months the scoring models do not pick up the bankruptcy anymore so it does not effect your score. It is visible on your report for 10 years after a chapter 7 and 7 years after a chapter 13, but not in your score. It is a good idea to open up an account after your bankruptcy discharges so your scores will continue to go up. If you open a credit card, just make sure you do not go over 30% of the limit, and pay it off every month. You can go to http://www.bankruptcy-records.us/Credit_Restoration.html for step by step instructions on how to handle your credit after a bankruptcy.
Yes, but only after the bankruptcy is removed from your credit report - which can take over ten years from the discharge.
Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.
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!
Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.
Yes, discharged debts are generally noted as "included in bankruptcy" on a CR.
10 years
Yes, but only after the bankruptcy is removed from your credit report - which can take over ten years from the discharge.
Yes. But not as much as if the husband did the bankruptcy.
Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.
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!
Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.
Yes, discharged debts are generally noted as "included in bankruptcy" on a CR.
will bankruptcy increase you credit score over time
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
Your credit score starts going up the minute the bankruptcy is filed. Debts incurred after the filing (even the day after), are exempt from the bankruptcy. If you make house and/or car payments on time, your score goes up Legally, they can hold it for up to 10 years.
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.