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Posted in Bankruptcy
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iwonder08

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Bankruptcy Credit score
I filed bankruptcy May 5, 2016 and it reported as "filed" on my CR and dropped my CS about 100 pts. Will my score drop again once it reports as discharged?

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No. The score drop is a one-time hit, and over time, if you're smart, the score will go back up (if it's Chapter 13, you will have to wait 5 years before you can bring that score back up). If any credit was exempted from the bankruptcy (house, car, or other court/trustee-approved exemption), your score will likely start coming back up as you continue paying faithfully over time and the older negative/derogatory entries drop off. Once discharged, you can work on getting your score back up even further. 

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