Credit Score Information

How Bankruptcy Affects Your Credit Score
  • It remains on your credit report for up to 10 years after the filing of the case.
  • Potential lenders that sees a bankruptcy as a part of a consumer’s credit report information will view it as an extremely negative item, worse than delinquencies or account in collections.
  • It could potentially lower a good credit score by 100 or more points.
  • It may make it more difficult for you to obtain credit, buy a home and get insurance in the future.
  • Credit that you are able to obtain may be from sub prime lenders that carry very high interest rates.

  • Long story short, bankruptcy ends up costing you more money for future credit transactions.

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