How Much Will Bankruptcy Change Your Credit Score? The term “Credit Score” refers to a FICO Score which is a three digit number determined by a complex formula. Credit scores range from a low of 300 to a high of 850. For most people, filing a bankruptcy will lower their score between 130 and 240 points. This means that an “A+” credit rating would be reduced to either “B-” or “C+” depending on other factors. Most people considering bankruptcy already have negative items being reported like: late payments, foreclosure, repossession, lawsuits or tax liens. The impact of bankruptcy can be little or none for people with poor credit prior to bankruptcy.
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