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Discharged Bankruptcy

Discharged Bankruptcy Still Affects Credit Scores

Dear Experian,

Once a Chapter 7 bankruptcy is discharged, will it still affect my credit score?

- ADZ

Dear ADZ,

As long as the bankruptcy appears on your credit report it will have an impact on your credit scores, even after it has been discharged.

A Chapter 7 bankruptcy will appear on your credit report for 10 years from the date it was filed.

Updating Bankruptcy to Show Discharged

Once discharged, the bankruptcy filing listed on your credit report will be updated to show discharged. Any accounts that were included in the bankruptcy will also be updated by your lenders to show they are discharged and the balance owed is now zero.

It's always a good idea to request your free credit report a month or two after the discharge to make sure that the bankruptcy and any accounts included in the bankruptcy have been updated and are being reflected accurately.

Although you will no longer be responsible for paying those the balances, the history of the accounts will remain, including any late payments made on the account.

How Long Do Accounts Included in Bankruptcy Remain on Report?

If the accounts were delinquent prior to being included in bankruptcy, they will be removed seven years from the original delinquency date on the account.

If they were paid on time prior to the bankruptcy, they the accounts will remain on file for seven years from the filing date of your bankruptcy.

The good news is that as time goes by and you begin to reestablish your credit, the bankruptcy notations will begin to affect you less and less. Eventually the bankruptcy and the accounts included in the bankruptcy will be removed automatically from the credit report.

Thanks for asking.
Jennifer White, Consumer Education Specialist

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