700 Credit Score After Bankruptcy

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The exact effects will vary, but according to major credit scoring model fico, bankruptcy can make your a good credit score (think 700 or above) to plummet by 200 points or more. Meanwhile, a less stellar credit score of 680 will drop about between 130 and 150 points.

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Credit bureaus do not typically reveal how much impact a bankruptcy has on your score. However, Yahoo Finance reports that a bankruptcy will lower your score by 130 to 240 points. If, for example, you had a credit score of 780, bankruptcy can drag your score down to between 560 and 540.

If you’ve had a significant improvement in your credit score, time in business. But if you’ve been in this position, you also know that the seven year mark after a bankruptcy is something of a.

 · The Truth: While you should expect a dramatically lower credit score following bankruptcy, you can begin to build your credit back up with smart credit management. After four or five years, you.

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How to Rescue Credit Scores after Bankruptcy. 8 myths surrounding bankruptcy – CreditCards.com – Don’t assume your credit score will skyrocket once the bankruptcy drops off your credit report. If you avoided using credit and simply resorted to cash after your bankruptcy, you could end up with no credit history, says Griffin.

The disparity held true even when adjusting for credit scores. Those riskier loans have in turn meant minorities have disproportionately faced foreclosure. Nearly 12 percent of Latinos have lost their.

Re: How long does it take to get a 700 score after bankruptcy? After a CH7, a score in the 700s is quite possible 2 years after filing. If you are pro-active right after discharge and follow all other "golden rules" (utilization on CCs, no late payments etc.), that can be achieved.

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What to expect seven years after bankruptcy. While the public record of the bankruptcy may remain on your credit report for up to 10 years, the individual accounts included in bankruptcy remain on your credit report for less time-seven years from the original delinquency date that led to the bankruptcy status. If one of these items does not.

From a mortgage standpoint, it depends on how long ago the bankruptcy was discharged. For an FHA loan, the waiting period after either a Chapter 7 or Chapter 13 is generally two years, although it is possible to get an FHA loan even while one is s.