07 TL-S just noticed the wear indicator is on the bottom outside. could this be the reason why i get a screeching noise when i am braking and hit a bump at the same time?

I am curious also. I have an 04, and the screeching is constant on my passenger front wheel.

if there's a metal to metal sound constantly you prob need to inspect your brakes to see if the indicator is rubbing.

as far as the OP, it might be something else. A bump shouldnt even affect how the brake pads contact the rotor..