BK at 9.5 years

[Anonymous]

In June 2008 my BK will hit the magic 10 year mark (and disappear?). Aside from my car loan which has been on time all five years, I am debt free. I've got a Visa Gold card I've just paid off (also on time for 4+ years) Will my score significantly improve at the 10 year anniversary? And for the next four months prior to the 10 year mark, will my score gradually improve, or will everything happen at ten years? I'm in the market for my first home with about 25,000 saved for a down payment, and am hoping to catch a great mortgage rate & falling home prices, knowing neither will last long. It is worth waiting til after June?

[granny031350]

you know what, I bet once that falls off you could see a score drop.  The reason:  You will be put into a new bucket of those with no public records on their file.  But hopefully it will go up. 

[Anonymous]

Hi there Granny ... just out of curiosity, why would someone's score drop if the BK is taken off? I would think it would improve because now you do not have that nasty mark against you. My friend wants me to really try and have his taken off, so I want to make sure if I did and got it dropped his credit does not fall. Thanks John