Credit Score in Chapter 13

[srjjames]

I was just wondering when filing Chapter 13, how did it affect everyone's credit score?

[LadyInTheRed]

If you need to file BK, your credit score should be your last concern. It will drop, but it will recover in time. I've read that it will drop about 100 points, but I've also read that it depends on what your credit history is like before filing.

I don't know what my FICO is because it's not important enough to pay for at this point, but I did join Credit Karma a few months after filing. I had a FICO in the mid 700s before I filed. It's hard to compare the Credit Karma score to that, but it rates my credit as "fair" after 2 years in a 13.

[srjjames]

Thanks for your response. I did file in January. I was just wondering because it seemed like the scores dropped in chapter 7 but then shot up high after about 6 months.

[Mayo]

I quit paying my cards a year before filing. I had some chargeoffs and all were way behind. I don't know what mine was when I filed but I checked it January on my final 60th payment of a 13 and was a 650.

[catleg]

The trouble with chapter 13 is you come out the back end with no recent credit history.
That is probably what makes rebuilding your credit score so difficult.

[toojerm]

Unless you pay your mortgage and student loans outside the plan, and stay current.

[catleg]

No, even if you do pay your mortgage (whether inside or outside), current or late, it still gets classified as "included in bankruptcy" and thus, unrated for credit score.
Don't know how student loans work.