chapter 7 bankruptcy affect credit score my credit score after chapter 7 bankruptcy: How Does Chapter 7 Bankruptcy Affect My Credit Score?
- 11/02/10 03:29 PM
How Does Chapter 7 Bankruptcy Affect My Credit Score? This a question I get occasionally from a loan applicant, generally one that has filed a Chapter 7 Bankruptcy either recently or within the last couple years. I start by explaining how a credit score is determined, and I use the Fair-Isaac Corporation (FICO) Credit Score as an example. The credit score is based on these factors: 35% is payment history, 30% is utilization/outstanding debt, 15% is credit history, 10% is credit inquiries, and the final 10% is the type of credit used. FICO quotes that 40% of the population has a … (4 comments)
How Does Chapter 7 Bankruptcy Affect My Credit Score?
;)
;)
