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What Happens To Credit Score After Bankruptcy?

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  • What Happens To Credit Score After Bankruptcy?

    I am in a tough fnancial bind right now and am considerng bankruptcy as my alternative to take care of all my debt..... I am just concerned with what will happen to my credit after I file. What happens to credit score after bankruptcy?

  • #2
    It gets trashed.

    Why are you considering bankruptcy? How much do you earn and how much do you owe?

    And is there any reason to care what your credit score is at this point? Hopefully, you've learned to never borrow money again.

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    • #3
      According to numbers FICO released for the first time late last year, someone with a FICO score of 680 would likely take a hit of 130-150 points. Someone with a score of 780 should expect a loss of 220-240 points after BK. This is just a general guideline, but it at least gives you an idea.

      So, yes, as DS said - it gets trashed. If there's anything you can do to avoid BK, start paying/settling your debts and digging yourself out of debt, I would take that route instead. Lay out the details, and there are plenty of people here to help you devise a strategy.
      Rock climber, ultrarunner, and credit expert at


      • #4
        What happens to credit score after bankruptcy?You can expect your credit score to take a drastic nosedive after you've filed for bankruptcy. Then again, it's a given, because your accounts have already been behind on payment--which is why you're filing in the first place.

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