Bankruptcy: How many points does it decrease on your credit report?

I've been wondering about this issue. I've never filed but wonders how it works as far as how many points it takes away from your credit report.


I'm not sure if this question can be answered but please go for it.

Bankruptcy: How many points does it decrease on your credit report?
To be totally honest with you, if you are thinking about bankruptcy the effect on your score is the last thing you should be worried about right now.





However, in answer to the question there is no set points that it will change. Your score is based on many factors. In some cases it could knock of 100 or more points, but if you had a lot of negative items a bankruptcy could actually improve your score.
Reply:All I know it going to be a lot
Reply:it is going to drop alot, i have declared myself... my score WAS 705 before i lost my job and couldnt make payments (ty to the Sept 11 recession)I went down 200+ pts... but I declared bankruptcy 4 years ago... My score is 680 after not missing a thing... it is gunna hurt lol
Reply:The bankruptcy itself does not actually affect your score itself, it is what it does to your accounts on your report that it really affects...your score is broken down like this





35% Payment History


30% Amounts Owed


15% Length of Credit History


10% New Credit


10% Types of Credit





So your payment history goes in the crapper, that is what does a big part of the destrutcion of the credit score, the amounts owed don't go down and any length of history you have is destroyed by the closing of the account due to the bankruptcy.