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Valued Contributor
casinoannie97
Posts: 1,989
Registered: ‎08-17-2007
0

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
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: bankruptcy

 
Derogs have less of an impact as they age.
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007
0

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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