How much does a chapter 7 reduce your credit score?

Answer If you are currently overwhelmed by debt, bankruptcy might seem like the right option for digging your way out. Before you file, however, you must consider the negative impact that a Chapter 7 bank... Read More »

Top Q&A For: How much does a chapter 7 reduce your credit score

How to Improve Your Credit Score After a Chapter 7?

Once you file for bankruptcy, the credit bureaus note your bankruptcy case on your credit report, which damages your credit score. According to The Fair Credit Reporting Act, a Chapter 7 bankruptcy... Read More »

Will canceling credit cards with high available credit hurt my credit score?

Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »

Does Chapter 13 Reduce Debt?

If your debts are overwhelming, bankruptcy offers an alternative. In Chapter 7 bankruptcy, many of your debts can be discharged -- wiped out. In Chapter 13, on the other hand, you have to pay your ... Read More »

What is a good credit score on a credit score scale?

On One Hand: Over 700 on the FICO ScaleThe FICO credit scoring scale runs from 300 to 850, with higher scores signifying a more credit-worthy individual. A score of 700 or higher signifies that you... Read More »