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isellhouses

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Bankruptcy Score
I recently applied for a Home Equity Line of Credit. My credit score came back at 802. Also included in the information I received from the bank is a Bankruptcy Score. I've never heard of this and after reading various articles, this Bankrupcy Score is something that is a secretive score that most people don't know about. It's a score lenders use to assess the likelihood of someone filing Bankrupcy. The scoring system is from 1-600. A good score is the,opposite of a FICO score;. For a Bankrupcy score lower is better. Does anyone know what is considered a good Bankrupcy Score? Is there a range of scores like FICO? My score is 356. Thanks.

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A bankruptcy risk score is a number that indicates the likelihood of an individual filing for bankruptcy. ... Equifax, a US credit bureau, offers a bankruptcy risk score called Bankruptcy Navigator Index to its commercial clients.  Its a lot like gambling on sports events.   Your creditor keeps a score on how likely you are to file bankruptcy.   Its their odds.   Your creditor thinks you have a greater than 50% likelihood of bailing on them.   How you handle that line of credit and pay off anything you borrow can have as much impact on your credit score as any Bankruptcy score.   

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