how many points are taken away if you have a bankruptcy?

[rosskinouye]

Hello- new to all of this. I filed for bankruptcy over 3 years ago. I know that it will stay on my credit report for 10 years under the section (public Record). What I want to know is how does it affect the Fica score example instead of having a 700 score does it drop an automatic 100 points so it would 600? Could someone please help. Thanks Ross

[Minnymouth]

Fico score depends on a lot of different things...... will be extremely low if you claimed bankruptcy.....even 3 years ago, if you haven't gone back and cleaned up your credit report....

Scores are based on:

1. whether you have claimed bk or not
2. credit history ( length and payment history)
3. number of inquires - soft and hard
4. amount of credit available
5. accounts paid in full
6. number of accounts - whether your over extended or not

and many other factors........

If you have not done so, you need to pull a credit report and check it over closely..... see if there is anything that you need to dispute left over from your bankruptcy.....

To build the score back up after bankruptcy you have to maintain an excellent credit history and payment schedule with both revolving accounts and standard accounts such as mortgage, auto payments, etc...

[FilingOnMyOwn]

After filing bk, I now have the highest credit scores of my life. Without all that debt and unpaid bills, your score is more likely to improve over time than fall.