Having a good credit score can be very helpful in many ways. Credit scores are provided by the top three credit scoring agencies, which are Equifax, Experian, and TransUnion. They all rate your credit history and give you a FICO score. The score is produced with software developed by the Fair Isaac and Company, hence the acronym FICO. FICO scores can range from a low of 300 to a high of 850 and is computed using a mathematical model that takes in account many variables associated with your use of credit.
Most people fall somewhere in the 725-799 range. Things like bankruptcy can severely impact your FICO score for a period of time after the discharge of unpaid debt. Bankruptcy will stay on your credit report for 10 years. After going through bankruptcy, your FICO score will be drastically lowered initially, but then slowly improve as your credit history reflects you’re paying debts on time and you have once again established credit and have been responsible with credit cards and loans.
If you live in California, you’ll need to file in that area because California bankruptcy laws may be different from laws in other states. If you live near San Francisco, then you may be looking for a Northern California bankruptcy attorney. You can find information at www.lincolnlaw.com that will educate you on the requirements for declaring bankruptcy and help you decide if bankruptcy is the route you want to take to restore your credit score.
Please seek professional legal advice from an attorney if you have any questions. I’m only providing an opinion on the subject of bankruptcy based on my own research.
I am participating in a blogger campaign by Bucks2Blog and was compensated. However, the views and opinions are my own.
Most people fall somewhere in the 725-799 range. Things like bankruptcy can severely impact your FICO score for a period of time after the discharge of unpaid debt. Bankruptcy will stay on your credit report for 10 years. After going through bankruptcy, your FICO score will be drastically lowered initially, but then slowly improve as your credit history reflects you’re paying debts on time and you have once again established credit and have been responsible with credit cards and loans.
If you live in California, you’ll need to file in that area because California bankruptcy laws may be different from laws in other states. If you live near San Francisco, then you may be looking for a Northern California bankruptcy attorney. You can find information at www.lincolnlaw.com that will educate you on the requirements for declaring bankruptcy and help you decide if bankruptcy is the route you want to take to restore your credit score.
Please seek professional legal advice from an attorney if you have any questions. I’m only providing an opinion on the subject of bankruptcy based on my own research.
I am participating in a blogger campaign by Bucks2Blog and was compensated. However, the views and opinions are my own.
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