How long does chapter 7 affect credit scores?
Discharge was in June 2009 so I have less than 2 years to go before it falls off the report.
How much is this affecting my scores 8 years later? Should I expect a big score increase in 2 years or has the effect of time making it not such a big impact on my scores now?
I mainly want to know how it affects mortgage scores and fico 08.
This is a great question. Is there anyone around with a Chapter 7 discharge more than 10 years old that can share how their scores were impacted the month before/after the bankruptcy filing was removed from the credit report (at the 10 year mark)?
depending on your rebuild the last 7 yrs, any baddies AFTER your BK, and what your util looks like at the time it should come off reports....you should expect to see anywhere 50-100 pt boost.
That is IF you've have rebuilt nicely, and have NO negatives after your BK either, and depending on inq/new acts as well. But even with those the lowest Ive seen was like 40pts boost.
Wow that would be great!
All my scores now are at the 720 range. A 40 point increase would nice.
Now I just have to wait.
You say your DC was June 2009?? When was your file date? BK7's are deleted from the reports 10yrs from the file date, not DC date, so technically you have like a year and a half, maybe less. The reason I ask what your file date was, is because TU will delete 6 mo early (EE), and EQ and EX will delete 1-3 mo early