How Long After Chapter 7 Bankruptcy Before My Credit Score Improves?

After a filing for Chapter 7 bankruptcy, your credit score will likely be at 500 or below which is considered, “poor.” But after a Chapter 7 bankruptcy discharge, your credit scores are effectively reset and within about one year you could see that score improve if you take some positive steps.

Good debt, or positive credit activity, can help bolster your credit score. By paying regular obligations on time each month – such as utility bills, rent, etc – you will begin to see improvement in the score. When you are able to secure new credit and you continue to use and repay that credit responsibly, you will also see improvement.

A bankruptcy will stay on your credit report for 10 years, but the negative effects on your ability to secure new credit should not last beyond the first couple of years. Before you decide to file for bankruptcy, consult with experienced bankruptcy lawyers at The Frutkin Law Firm in Phoenix, Arizona.