How does going bankrupt affect your credit?

Answer Personal bankruptcy comes in two forms--Chapter 7 and 13. Under the former, your debts are forgiven after your assets are liquidated. With the latter, you commit to a debt-repayment plan. In either... Read More »

Top Q&A For: How does going bankrupt affect your credit

Does going over a credit limit affect a credit score?

Yes. Going over your credit limit can lower your credit score because it increases the amount you owe. Credit-scoring formulas reward low balances with higher scores and penalize people who carry h... Read More »

Does Applying for a Credit Card Affect Your Credit Score?

Credit cards are a fact of life, and for some a way of life. Many factors determine whether they're an asset or a liability. Your credit score determines what you will pay for more credit, future c... Read More »

Does checking your credit affect your credit score?

Credit scores are checked by various people including insurance companies, prospective employers, creditors and credit card companies. Individuals may also check their credit scores. According to P... Read More »

Does opting out on your credit cards affect your credit?

New 2009 U.S. legislation requires that credit card companies allow people to opt out of credit cards when the company changes its policy. While opting out of credit has no effect on a credit score... Read More »