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
psmike57

0 Contributions
0 People Helped
do i have to get written proof fromthe court that my bankruptcy is finished ? will my score go up ?

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
935 Contributions
133 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Depending upon the type of Brankruptcy, it will remove from your report in 7-10 years.  (Chapter 7 - 10 Years,  Chapter 13 - 7 Years).   You would only need documentation from the court if the date of discharge is different than what is reported to the bureau.   The document you received when it was discharged would be sufficient.  Otherwise, just handle your credit with proper management and timely payments so that you can get past that bump in the road when the time comes.

Top Contributor
218 Contributions
96 People Helped

To tack on to the sibling response: Your score can go up, but you will have to work at it. My score went up nearly 100 points just in the past six months after my Chapter 13 was discharged. However, that's because I had a solid credit history before the bankruptcy (medical bills forced the bankruptcy), and immediately afterwards, I got a small credit card and faithfully paid the balance to zero each month (while never going over 10% of the limit) - the limit has since increased on its own with no input from me. I also got a (VA) mortgage, and have been faithfully making payments on that. I keep my debt-to-income ratio low (I own both of my vehicles free and clear, and the mortgage payment isn't even 1/4 of my monthly income). I also use credit very carefully, never putting more than $100 on the $2500 limit card. I do have a couple of derogs lingering on the reports, mostly from a couple of collectors who discovered that they bought a bankruptcy-cleared debt after-the-fact (some hospitals are pretty sleazy about doing stuff like that)... but those will die on their own in time.

Results 1-2 of 2Results 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.