Will my credit score improve 2 years after my chapter 7 bankruptcy?
March 18, 2013 2:07 PM Subscribe
My wife and I declared bankruptcy 22 months ago. It was the only way, and we have no regrets whatsoever. We managed to keep our house and what little equity we had. We are looking to move to a different house, and are curious about our mortgage options. My credit score today was 681, which is just on the edge of where (so I read) you can get a conventional mortgage. In two months, when we get past the two year mark on our bankruptcy, will the score go up appreciably, or is it a gradual thing?
posted by anonymous to Work & Money (4 answers total) 2 users marked this as a favorite
Any other general advice for our situation?
If any of it matters: we have plenty of income, zero debt other than student loan, car loan and mortgage. We have several credit cards that are empty but that we put things on from time to time and pay them off. We have about 18k in savings, and around that in equity. We have nothing but green in our credit report since the bankruptcy, and even through the bankruptcy we were never late with a payment to car or house.This is in Texas.