How many points does a credit score drop when you file bankruptcy?

vishenda · #1 (**permalink**) 10-06-2006, 04:43 PM

what other impact does it have on credit?

mbhunter · #2 (**permalink**) 10-06-2006, 10:22 PM

No one will be able to predict how many points your rating will drop, but suffice it to say it will be enough that your interest rates will get extremely expensive, if you're extended credit at all. That, and it will stay on your credit report for up to 10 years.

PRICEPLUS · #3 (**permalink**) 10-07-2006, 01:15 AM

Ever hear the expression "drop like a stone". Interestingly enough you'll be sure to get planty of CC offers as you can't declare bankruptcy again for several years. Any new debt you incur would find you securely on the hook!