laurenjane wrote:
FaircreditguyFL -
Won't it improve at all? If you have re-established credit after your discharge, and the 7 years ticks by and finally the BK drops off, surely your scores will improve, as you won't be showing a "serious delinquency or collection or public record." Doesn't that make sense? Or am I missing something?
Public records in general don't effect your score after 2 years. It would be safe to say that a BK would be in the same catagory. Basicly FICO see's a public record's closing date, it doesn't get into specifics on what it's for or how much it was for, just that is was settled/ closed on xx/xx date.
The part to look forward to is once the BK falls off, the unfriendly BK lenders will be freindly to you once again.....