in your post-filing score.  If you have been maintaining timely payments up to the point of filing, you may see a drop of up to 200 points.

 

The benefit of filing bankruptcy with regard to credit scores is that bankruptcy creates a stopping point for decreasing credit. You will see your credit scores start to increase a month after discharge and the amount of the increase will depend upon how responsibly you manage your credit and your credit use.  You should see a marked decrease within about a year. 

 

You will immediately see offers from high interest and secured credit cards.  Although a Chapter 7 bankruptcy remains on your credit report for 10 years and a Chapter 13 bankruptcy remains on your credit report for 7 years, the negative impression it has on potential new creditors will decrease with time.  You are more likely to obtain new credit after a Chapter 7 bankruptcy than you would be with bad debt and no bankruptcy because poor credit signals a potential bankruptcy whereas a Chapter 7 bankruptcy means you cannot file a Chapter 13 bankruptcy for four years from the date of filing or a Chapter 7 for eight years from the date of filing.  Waiting 6 months to a year will allow your credit to improve enough to obtain a reasonable interest rate on an automobile loan, assuming you have properly managed your post discharge credit use.  Expect to wait up to 4 years post discharge before you are able to obtain a new mortgage.