Credit report after?

[etechjc]

I hope this isn't a dumb question. We are considering Considering filing. One thing I wanted to know, Do the good things on your report dissappear after one files? We both have litterally dozens of loans we have taken and completely paid off w/o late payments, Several cars, Student loans, CC's, etc... When we file we will have $17K discharged thru one card on my wifes Credit and 3 totaling $30K on mine.

How does that effect CR?

[Flamingo]

Go to the "rebuilding credit" forum on here or do a search on your subject. It has been heavily discussed. Yes the good things disappear if they are included in your bankruptcy as they will show as being in BK after you file for 7 to 10 years depending on which chapter you file. Previous good credit items paid off or closed prior to filing will remain for the time period indicated by the creditor in the report. Unfortunately for a while the BK filing on your credit reports is detrimental and some creditors just will not grant credit when seeing it. BK, foreclosure and repossession are the worst things to appear on your credit reports. Time is your friend after filing and being prudent with future credit and paying all bills on time - that will raise your score tremendously after discharge but it will take a few years.