Your credit score will never hit 0, regardless of how much you have mismanaged your credit. If you are seeing a 0 credit score, you’re likely using a website that uses a less popular score (such as VantageScore). Lenders will use your FICO.

How long after bankruptcy does your credit clear?

seven years
A Chapter 13 bankruptcy is removed from your report seven years from the date it is filed. Having a bankruptcy in your credit history will seriously affect your ability to obtain credit for as long as it remains on your report.

How does filing bankruptcy affect your credit score?

As a result, filing bankruptcy can have a severely negative impact on your credit score. A Chapter 7 bankruptcy will remain on your credit reports and affect your credit scores for 10 years from the filing date; a Chapter 13 bankruptcy will affect your credit reports and scores for seven years.

What should my FICO score be after bankruptcy?

Over this 12-18 month timeframe, your FICO credit report can go from bad credit (poor credit is traditionally less than 579) back to the fair range (580-669) if you work to rebuild your credit. Achieving a good (670-739), very good (740-799), or excellent (800-850) credit score will take much longer.

What happens to your credit when you file Chapter 13 bankruptcy?

A discharged Chapter 13 bankruptcy typically stays on your reports for seven years from the date you file, but it could remain for up to 10 years if you don’t meet certain conditions. Both types have the same impact on your credit scores.

How long does a bankruptcy stay on your credit report?

These statuses and accounts remain on your credit report for seven years from the date that each account became delinquent. So, even if the bankruptcy record remains for ten years, the accounts included will drop off your report after seven. NOTE: Payment history may not be updated during your filing!