Credit Starts Improving Two Years after you File Chapter 7

November 19, 2009 on 1:30 pm | By | In Business | Comments Off

After filing bankruptcy and you get your bankruptcy discharge, each listing on your credit report will simply say included in bankruptcy or discharged in bankruptcy. The balance due and the past due balances will be listed as zero. While the bankruptcy filing is a negative on your credit score, the omission of balances due and past due balances will have a positive effect on your score. Even if your credit score decreases when you file for bankruptcy, it will not stay low forever. Most people who file chapter 7 find that within two years of filing, their credit score improves to a good or excellent level.

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