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Time since bankruptcy

CreditBob
Established Contributor

Time since bankruptcy

Here is my question. How long will these two factos have an impact on my credit rating?

 

LENGTH OF TIME SINCE DEROGATORY PUBLIC RECORD OR COLLECTION IS TOO SHORT

 

 TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN

Message 1 of 6
5 REPLIES 5
silkysean
Regular Contributor

Re: Time since bankruptcy

If the Bk is less than 2 years it will always say this.In Addition if you have not tried to Reestablish and rebuild your credit it will hurt.Sont focus on this move on and take small steps rebuilding and don't micro manage your credit profile at this point.Chapter 13 stays for 7 years while Chapter 7 is 10 years.I had both but still many years later one has fallen off other is still a huge factor to some even thou it's  about 8 years old.I never worried about this just moved foward doing good and I'm in mid 700's with a Xhapter 7 reporting.Your overall profile is just as important as one or two negatives.Good luck 

Message 2 of 6
CreditBob
Established Contributor

Re: Time since bankruptcy

Thanks for the feedback. I also have one secured account after the filing to which i was well aware of that it had to be done. As soon as the 13 is discharged I will be getting a secured loan.

Message 3 of 6
Scupra
Super Contributor

Re: Time since bankruptcy

I am almost 4 years post BK7 and still see those listed.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
755 EQ FICO 12/2019
750 TU FICO 12/2019
743 EX FICO 12/2019
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Message 4 of 6
CreditBob
Established Contributor

Re: Time since bankruptcy

Thanks for the update. It's a big help.

Message 5 of 6
takeshi74
Senior Contributor

Re: Time since bankruptcy

I was able to get into the low to mid 700's with a CH7.  However, it's never just about score.  There were some products I just couldn't get approved for until the CH7 fell off.

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