Having a credit rating out-of 560 means 91% away from borrowers nowadays have a much better credit history than simply your. One sets you at the end nine%. For those who have a credit score out of 560, in addition it ensures that you have a 62% threat of defaulting for the an unsecured loan. That have a credit rating out of 560, you ount out-of credit debt also. The typical credit debt off borrowers having a credit rating was around $cuatro,674.
That have a credit history off 560, there is the possibility that you’re beginning to rebuild the credit after filing both a section 13 or a chapter seven case of bankruptcy. Immediately following a bankruptcy was finalized, it is common for people to see the credit score shed with the middle so you can low 500s. Read More