Posted on: 13th Jan, 2012 12:23 am
Hello everyone… need your help to know something!! In the month of March, we will complete 3 years of our bankruptcy filing. Will this fact do anything to improve the credit scores? Or is there a particular time period after which the scores will increase? Thank you.
Hi Beatrice,
With time, the affect of bankruptcy will decrease and your credit scores will rise. However, you should also take steps to improve your credit. For example, you should take out a secured credit card and make sure that you don't make any late payments, etc.
Thanks,
Jerry
With time, the affect of bankruptcy will decrease and your credit scores will rise. However, you should also take steps to improve your credit. For example, you should take out a secured credit card and make sure that you don't make any late payments, etc.
Thanks,
Jerry
Bankruptcy will effect for your credit for an average of 7 years..consider it a way of purging the bad and being flagged for "high risk" until your prove yourself again.
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