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bankruptcy

Valued Contributor

bankruptcy

i'm new to this.  My bankruptcy is almost 8 years old. Can they still score it as if it were new?  Also two of my older credit cards gave me new accounts.  Do they treat this as new action?
Thanks
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Moderator Emeritus

Re: bankruptcy

 
Derogs have less of an impact as they age.
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Established Contributor

Re: bankruptcy



casinoannie97 wrote:
i'm new to this.  My bankruptcy is almost 8 years old. Can they still score it as if it were new?  Also two of my older credit cards gave me new accounts.  Do they treat this as new action?
Thanks


Yes to both... BK will reduce impact on FICO as time goes by but lenders often look at BK from a pass/fail prospective. New TL is a new TL--- Hx and all starts over.

Rob
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