Nashville Bankruptcy Attorneys Clark & Washington Interpret What FICO Score 9 Means to Your Credit Rating

    NASHVILLE, TN, May 04, 2015 /24-7PressRelease/ -- The new FICO Score 9 allows lenders a more precise predictive indication of a borrower's likelihood to repay a debt than earlier versions, according to the Nashville bankruptcy experts at Clark & Washington. It gives lenders the ability to make more accurate risk assessments throughout the life cycle of a variety of credit products (mortgages, car loans, credit card debts, etc.). By providing a better way to assess consumer collection information, the FICO Score 9 benefits different kinds of borrowers and debtors.

Borrowers with a limited credit history stand to gain from credit analysis made under the new FICO Score 9 system as do consumers with accounts held by collection agencies. Medical debt is differentiated from non-medical debt, thus ensuring that medical collections do not have a major derogatory impact on a borrower's credit score. A borrower whose only negative credit reference involves medical collections may see his or her credit score go up by as much as 25 points under FICO Score 9.

The three major credit bureaus sometimes issue significantly differing versions of a borrower's credit score. The FICO Score 9 virtually eliminates this scenario. By utilizing the same development window across the three credit bureaus, the FICO Score 9 system generates consistent credit scores for borrowers, making it easier for lenders to judge their credit worthiness.

For expert assistance throughout the bankruptcy filing process, get in touch with the seasoned Nashville bankruptcy attorneys at Clark & Washington. Their knowledge and experience in the field of bankruptcy law is unparalleled in the region. Call them for any concerns or questions you have regarding bankruptcy in Nashville. To learn more, please go to http://www.bankruptcyattorneynashville.com.

About Clark & Washington:

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal Chapter 7 and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information, visit http://www.bankruptcyattorneynashville.com.

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