This paper presents a cross-sectional investigation of literacy development and difficulties among children bilingual in two languages, namely Filipino and English. The main aim of the research was to investigate cognitive and linguistic factors that are related to literacy difficulties in a bilingual population. The results indicate that literacy develops differently among the bilingual-biliterate children. In examining literacy difficulties among the children in this study, the findings indicate that biliteracy presents a fundamentally different context in which to investigate and assess literacy difficulties. The conclusions provide basis for the greater understanding of reading development and dyslexia among bilingual children.