Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Bankruptcy
Profile Image

Question By
Shaxton2

0 Contributions
0 People Helped
discharging in a few months with 2 of the 7 years of a chapter 7 left will my credit go up in july?
I am in a chapter 7 and should have my last payment in june or july and then I believe i will be discharged, do you know if your credit will go up then or is it after when your full 7 years have been completed? I am looking at perhaps purchasing a home and want to get an idea, and i would like to know if it goes up? besides medical bills I have a great history now!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
8926 Contributions
4118 People Helped

Sounds like you have a Chapter 13 instead of a Chapter 7.  In a 7, you are dscharged from paying the debts that are dischargable, there are no payments to a trustee and it hurts your credit for ten years.  A Chapter 13 is a structured loan repayment that saves a lot of money and gets the creditors paid at a lower rate, but doesn't leave the "holding the bag" like a 7 does. This topic and how to buy a home are covered in the articles here.  The more you knokw, the better off you are.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.