Credit Score question

[jlynnb21]

I finally got brave and ran a credit check on myself. I filled Ch 7 on Dec 30th, 2008. To my surprise, my scores from each of the 3 credit bureaus were not nearly as bad as I had anticpated. It definetly had an impact though. Will it get worse after everything is actually discharged or is this the worst of it? It already acknowledges on my credit report the debts I plan to discharge and the ones i will reaffrim.

[optimistic1]

You are now less of a credit risk than ever before.

Why?

For starters, you literally have 0 debt.

Second, you cant file another BK for 8 years, which leaves you liable.

The scoring model that FICO uses is so complex, I dont think Albert Einstein could explain it.

But a large majority of it has to do with how much debt you actually have.

Why are you worrying about the score so much if you don't mind me asking?

[liz417]

I finally got brave and ran a credit check on myself. I filled Ch 7 on Dec 30th, 2008. To my surprise, my scores from each of the 3 credit bureaus were not nearly as bad as I had anticpated. It definetly had an impact though. Will it get worse after everything is actually discharged or is this the worst of it? It already acknowledges on my credit report the debts I plan to discharge and the ones i will reaffrim.

Your debt to income ratio lowered, reflecting your credit/FICO score. Make all payments (bills, utilities, car loans, mortgage, etc) on time and you should see your credit score improve pretty quickly. Did you not have many "late payments" before you filed? That has a big impact on your score too.

Good Luck!