beerschalom86
New Member
I filed for bankruptcy nine years ago. Next July marks ten years, and from what I understand, it should finally come off my report? My credit was strong when I filed, so the impact hasn’t been too severe—I reaffirmed my car and mortgage, keeping both. Still, I’ve worked diligently to maintain my score. Now, with it about to drop off, I’m hoping for a boost and plan to close around half my cards around that time. I have 20 cards, offering a little over $100,000 in available credit. Just last month, I paid off $10,000 in debt to prepare. All that’s left are some small balances, a bit of interest, and my $59,000 mortgage.
The card s I want to close are some of my oldest, but they have smaller limits. I intend to keep eight cards, which would total about $60,000 in credit limits—though all are less than five years old. My mortgage is 13 years old. I’m hoping the score increase from the bankruptcy falling off will balance out the drop from closing those 12 older accounts. Maybe that’s a bit optimistic.
Can anyone give me an idea of what to expect with my score when this comes off? Will it fall off automatically, or will I need to dispute it ahead of the ten-year mark to ensure it’s removed? Am I hurting myself too much by closing these cards? I don’t plan on any major purchases soon—I bought a 2022 Durango R/T a year ago, and I’m not moving anytime soon, so I have a few years to recover if my score drops. But I’d like to avoid that if possible. Any help would be appreciated.
The card s I want to close are some of my oldest, but they have smaller limits. I intend to keep eight cards, which would total about $60,000 in credit limits—though all are less than five years old. My mortgage is 13 years old. I’m hoping the score increase from the bankruptcy falling off will balance out the drop from closing those 12 older accounts. Maybe that’s a bit optimistic.
Can anyone give me an idea of what to expect with my score when this comes off? Will it fall off automatically, or will I need to dispute it ahead of the ten-year mark to ensure it’s removed? Am I hurting myself too much by closing these cards? I don’t plan on any major purchases soon—I bought a 2022 Durango R/T a year ago, and I’m not moving anytime soon, so I have a few years to recover if my score drops. But I’d like to avoid that if possible. Any help would be appreciated.
