But I Heard Bankruptcy Stays on My Credit Report for 7 to 10 Years?
That is because it has to. Under each of your debts discharged in your bankruptcy, the credit bureaus must report that the debt was discharged in a Chapter 7, Chapter 13 or may just read in a bankruptcy. This allows your score to go up since your score is based on your debt to income ratio. Making full payments on time to any lenders you have and are keeping [house, car loans, etc] will increase your score naturally. In the future to keep a great score great, try not to finance more then 40% of your credit limit.
Lee Abt is an Experienced Bankruptcy Lawyer in New Jersey - Call Today!
856-914-5100