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fair credit reporting act: How Does Bankruptcy Affect Credit? - 05/16/09 02:15 PM
A bankruptcy is reported on your credit report as a public record, and there is no doubt that your scores will drop anywhere from 100-300 points when it first hits, depending on how many points you still have to lose in your payment history factor. Keep in mind, by the time you have filed bankruptcy your scores have already taken a serious hit from the delinquent accounts. That's the bad news. The good news is that you can start rebuilding immediately.
How Long Will A Bankruptcy Remain On Your Credit Report?
Section 605 of the Fair Credit reporting Act states that … (26 comments)

 

Linda Ferrari

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