topic Re: Timing Question after Discharge in Bankruptcy

Timing Question after Discharge

t_fins — Thu, 05 Jan 2023 15:50:49 GMT

My wife and I filed BK7 last year and our 341 was held on 10/27/22. I called the court's recorded line today and it stated my case was closed and discharged on 1/3/23. I am eager to start to rebuild my credit. My question is when do i start the process? Do I need to wait for paperwork in the mail from court? Wait for credit reports to show discharge?

Just trying to figure out where to go next and when my journey can begin...

TIA

Re: Timing Question after Discharge

hoosier64 — Thu, 05 Jan 2023 16:08:24 GMT

Wait for your bk status to be updated to discharged on your credit reports. For me, it took a few days for them all to update.

For the debts that were discharged in bankruptcy, it may take some time for all of those to update too. I've read on these forums that can take up to a month. All but one of my accounts were reporting properly before my Chapter 13 was discharged.

Re: Timing Question after Discharge

t_fins — Thu, 05 Jan 2023 16:40:55 GMT

Thanks! I just pulled my 3 reports and it actually does say discharged.

Did notice a few issues though. On 1, my mortgage is showing as closed in bk which i wasnt, i am still paying. On another it says a installment loan was still being paid, though it shouldve been closed in BK.

I am wondering if i should dispiute now or give it a month to update.

Re: Timing Question after Discharge

hoosier64 — Thu, 05 Jan 2023 17:37:15 GMT

I would give it a month before disputing.

Re: Timing Question after Discharge

DogwoodLynx — Thu, 05 Jan 2023 21:35:00 GMT

@t_fins wrote:
My wife and I filed BK7 last year and our 341 was held on 10/27/22. I called the court's recorded line today and it stated my case was closed and discharged on 1/3/23. I am eager to start to rebuild my credit. My question is when do i start the process? Do I need to wait for paperwork in the mail from court? Wait for credit reports to show discharge?

Just trying to figure out where to go next and when my journey can begin...

TIA

Read this thread. It will be very helpful to you!

HOW TO: From BK7 DC to 700 in 24 Months or Less

Re: Timing Question after Discharge

FireMedic1 — Sat, 07 Jan 2023 23:53:34 GMT

It can take a while for all accounts to reflect a $0 balance and state IIB. 30-60 days. Once all of them are in line. You will see a small score rise. Then is the time to start. If you want guidance on which way to go. Need to know who got burned. Congrats.