I have a quick question. I have filed for bankruptcy twice (Chapter 7). Yes I know. TWICE!!! The second time (and final time) LESSON LEARNED. I really didn't want to do it but that was due to a repo. I filed in Jan 2013 and Feb 2021. Both have been discharged of course The one from 2013 is about fall off, unless I try for an early exclusion. Being that I have two bankruptcies will my credit score increase at all after the first bk falls off? Just curious......Thanks!
I have a quick question. I have filed for bankruptcy twice (Chapter 7). Yes I know. TWICE!!! The second time (and final time) LESSON LEARNED. I really didn't want to do it but that was due to a repo. I filed in Jan 2013 and Feb 2021. Both have been discharged of course The one from 2013 is about fall off, unless I try for an early exclusion. Being that I have two bankruptcies will my credit score increase at all after the first bk falls off? Just curious......Thanks!
I don't think your FICO scores will increase. There is no additional penalty for having more than one bankruptcy -- it's just having a bankruptcy reported and how long ago it occurred. If somehow the newer one were removed and the very old one stayed (before exclusion) you would gain the points for the BK being very old and having gained those points for the passage of time. I'm afraid the new one is going to be your anchor. Report back when the old one falls off. Folks will be curious to know what happened.
