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Bankruptcy years later!

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Anonymous
Not applicable

Bankruptcy years later!

I filed for bankruptcy at least 8 years ago and is regretting every minute of it. Does any know how much filing lowers your score?
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: Bankruptcy years later!

A pretty good amount. However, it being so long ago, it shouldn't have AS much of an effect on your score as even 3 years ago. Now, its time for you to pull your reports Smiley Happy and start rebuilding with some GOOD credit. PAY ON TIME and don't get yourself in the kinda of place you were before filing Smiley Happy
Message 2 of 3
TangMeister
Frequent Contributor

Re: Bankruptcy years later!

I've recently seen a similar situation on a friend's credit report's FICO scores. Granted, all credit bureaus do not calculate your FICO scores exactly the same, but they should be somewhat close, if all data is the same.

My friend's CH 7 BK was over 7.5 years old, the affected accounts IIB had dropped off, and the BK had fallen off of TU, but still remained on EX and EQ. The report data for all three bureaus was the same aside from the BK, so one might expect the FICO scores to be similar aside from the BK...or at least close to one another within reason.

The TU score was 60+ points higher than EX and EQ...which were within 9 points of one another. As I said, the BK is the only difference between the three bureaus and their data. So, I'd ballpark it and say 60 points were lost due to this BK filing even after 7.5 years. My friend was never late on a payment, and no other derogatory accounts or public filings existed. The only blemish on the credit reports was the BK on EX and EQ.

Obviously, the TU score could have been impacted by being put into another bucket. But that most likely would have lowered the score with TU, from what I understand. Perhaps it IS lower due to the re-bucketing, and the score penalty is actually higher due to the BK. Who knows for sure?

Hope this helps a bit.
Message 3 of 3
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