erick Posted March 25, 2007 Report Share Posted March 25, 2007 How long can a discharged Chapter 13 bankruptcy negatively affect your credit score? The bankruptcy was discharhed in February 2007; however, my credit scores are in the upper 500's because of the bankruptcy. Will the bankruptcy continue to negatively affect me until it is removed from my credit file? Link to comment Share on other sites More sharing options...
willingtocope Posted March 25, 2007 Report Share Posted March 25, 2007 Yes, although the negative effect will diminish over the next 10 years. Link to comment Share on other sites More sharing options...
LadynRed Posted March 25, 2007 Report Share Posted March 25, 2007 To some degree, yes. However, the older it gets, the less impact it will have, and you should see a jump up around the 2-year mark.You will have to do some credit repair and definitely rebuilding to boost your scores more than just by aging of the BK and associated accounts. Discharged Ch 13's generally stay on your reports for 7 years. However, all discharged debts MUST be reported as ZERO balance, NOTHING due or past due, and noted as 'included in bankruptcy' (or similar language). Link to comment Share on other sites More sharing options...
erick Posted March 25, 2007 Author Report Share Posted March 25, 2007 LadynRed and Willingtocope, thanks fore the response. Appreciate the experience and knowledge you both possess. Thanks. Link to comment Share on other sites More sharing options...
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