What Happens To Credit Score After Bankruptcy?
Date: Sun, 06/20/2010 - 11:06
I am in a tough fnancial bind right now and am considerng bankruptcy as my alternative to take care of all my debt..... I am just concerned with what will happen to my credit after I file. What happens to credit score after bankruptcy?
It tanks....everything included in the BK is written off/include
It tanks....everything included in the BK is written off/included in BK.
What happens to credit score after bankruptcy?You can expect y
What happens to credit score after bankruptcy?You can expect your credit score to take a drastic nosedive after you've filed for bankruptcy. Then again, it's a given, because your accounts have already been behind on payment--which is why you're filing in the first place.
But give it a year or so and your credit score starts going back
But give it a year or so and your credit score starts going back up, within 1 year of filing our credit score is better than it was before filing. It will be at the bottom but it DOES come back up and faster than having a bunch of derogatory accounts sitting there for years.