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AnjieP

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I'm. In chapter. 13, if I change it to chapter. 7, how will it affect my credit Score?

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Chapter 7 and your credit score

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I did Chapter 7 in Jan 2013. My credit score is 705 without doing anything most likely because I was a perfect payer and only did the Chapter 7 because I lost my job. I also did it immediately and never missed any payments. If you owe and cannot pay do not ruin your credit report with losts of missed payments, see an attorney immediately but they cost. My Chapter 7 was $900 in legal fees but worth it.  It's not the end of the world. I am working now, am modifying my mortgage, got one credit card with a $2,000. You get a basic credit card, you charge what you can afford and pay it off, charge, pay off, charge pay off. Do not let the balance go up. Be careful who you apply with for a credit card. Read everything in Credit Karma it's good advice. Stay away from banks you previously owed.

Good luck!

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Neither is good.

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All bankruptcies generate negative information on your credit report and will, because they are legal actions that are matters of public record, remain on your credit report for 10 years.  Both will have a bad effect on your credit score for most of those 10 years.  Regular payments on accounts and proving that you can be trusted with borrowed money (which is what credit actually is) will eventually improve your credit score.

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