What Happens Next?

[Anonymous]

Just received my Chapter 7 discharge this week and wanted to know what happens next? Will my score increase/decrease or remain the same? If any change takes placce about how long will it be? Will it increase/decrease significantly? Thanks!  

[0REDSOX7]

Just because you received a discharge has no bearing on your score.  What matters is that how your credit reports are showing.  Are all the accounts you included showing as IIB?  Zero balance?  Is your BK even showing on your reports?  That will impact your score more than just going from non-discharged to discharged.

[nykos5000]

Go through your credit reports for all three bereaus and verify that all accounts are IIB and $0 balance. If so then follow this plan to start the rebuild process 

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

[Anonymous]

I understand simply being discharged doesn't mean anything. My question is for someone who can answer and provide some valuable feedback,. Just to be clear- AFTER my bk is discharged and all reports are showing correctly, does the score increase/decrease or remain the same without me applying for anything. Serious replies only  

[Scupra]

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@Anonymous wrote:

I understand simply being discharged doesn't mean anything. My question is for someone who can answer and provide some valuable feedback,. Just to be clear- AFTER my bk is discharged and all reports are showing correctly, does the score increase/decrease or remain the same without me applying for anything. Serious replies only  

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That's a hard question to answer. It is so dependant on the persons file and what they had before the BK. Seems like most see a minimal increase while some see a decrease.