Re: When will my BK fall off
02-07-2013 03:14 PM
The effect just lessens over time. I filed 10/05 so I'm past the 7 years - no more bad anything on my credit report. I've had nearly perfect credit since the BK filing. Zero lates, I had a mortgage and car loan that I kept through the BK, the mortgage was refi'd right before the BK and have since sold that house and obtained another mortgage. I have a few CC's that I've had since shortly after the BK, highest single limite 6K, combined limits of about 12K.
It really only took about 2 years to get to "decent" credit - right around 700 give or take a few points. But now 5 years later - only up around 720 - despite continuing to maintain a perfect credit history. I would expect it to go up a good bit once the bk falls off since I have a good credit profile...