Chapter 13

[Anonymous]

My BK will have been discharged 10 years, come January 2008.  Will my score improve when and if it disappears?  Should I wait until then to apply for a mortgage.  I have long since reestablished and my current score is around 690.  Also, the mortgage I had at the time was satisfied and paid before the chapter 13.  Thanks!

[Anonymous]

i am almost sure you do not have to wait for 10 years to have a chapter 13 removed my husbands was removed after 7 we were told by the lawyer that chapter 13 is the only BK removed after 7years

[Anonymous]

it will improve greatly

[Anonymous]

I was in chapter 13.  My credit score was higher when I was in bankruptcy than it is now.  I did not see a huge jump in my credit score.  I only saw about a 10-18 increase.  I have never been late on my cc payments as a matter of fact I pay my balance off before the end of the month.  I really don't understand why some people go up 40 and 50 pts. when others barely move.  Please let me know how high your score went up if any.  My 10 years are over.  I want to buy a used car and I was told I had to have a credit score of 650 and up.  Believe this, my eq or tran. is not that high.  My ex. is 650.  My tu was 585 when I was in bankruptcy.  I don't know what I am doing wrong.I

[Anonymous]

Make sure it's showing on your credit reports as discharged.  If not then send them a copy of your discharge and tell them to remove it now.  Gotta watch out for that, cuz hubby had one CRA that just showed as filed which would have lasted 10 years.  His score jumped 82 points to the upper 700's after it came off.

[Anonymous]

Mine has been removed from all 3 bureaus.  My score has not jumped that much.  I have had some old accounts that was 7 years old and my score has never jumped over 18 pts.  Who can you contact to find out how many pts. you get when bankruptcy comes off or how many pts. for a old account to come off.  Experian is the only company where I can tell a difference but I don't know if it matters because of the advantage score.  Can this score be used for major purchases? 

[Anonymous]

Most mortgage lenders will grant loans much sooner than 10 years after a bankruptcy. One of the strictest is FHA which want your discharge to be > 2 years ago. 

Your credit begins healing as you establish new credit lines and make timely payments.  Secured credit cards are on option if you are unable to qualify for unsecured cards.  Some utilities are now being reported to credit agencies which can be helpful as well.

Credit history line items show on your credit history for 7 years so it's important to review your credit report and verify that discharged items have -0- balances & payments and are not counted agains you as still owed.

Edited!

Hi MortgageAdviser:

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Message Edited by fused111 on 09-06-2007 06:39 PM