cancel
Showing results for 
Search instead for 
Did you mean: 

What about negative effects on credit score after bankruptcy drops off?

tag
Anonymous
Not applicable

What about negative effects on credit score after bankruptcy drops off?

Hi - I'm new to the myfico forums. I heard, I believe from Suze Orman, that once your bankruptcy drops off your credit reports, you will actually experience a significant DROP in your credit score because you are then compared to people who haven't filed bankruptcy, as opposed to while the bankruptcy is still listed. While it is still showing, you are grouped/compared to people who have filed and therefore the older your bankruptcy discharge and the longer your good history, you have an "artificially" higher score. I have a score in the 700s and my bankruptcy discharge will be 10 years old in October this year. What's going to happen to my score when October arrives? Thanks!
Message 1 of 2
1 REPLY 1
Tuscani
Moderator Emeritus

Re: What about negative effects on credit score after bankruptcy drops off?

 
This can happen.. Any drop would be short lived, however.
Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.