Credit Scores Drop During Recession: Are You Worried About Your Score?
"World News" wants to know what you think -- share your comments below.
July 12, 2010— -- Many Americans' have seen their all-important credit scores fall victim to the recession, new numbers show.
Data released by FICO Inc. indicates that more than a quarter of Americans -- some 43 million people -- now have credit scores of 599 or lower, a threshold that will make it tough to get credit cards, mortgages and other loans. Bad credit scores can even make it difficult to find a job.
The number of Americans struggling with their credit has increased dramatically since the start of the recession. Historically, 15 percent of Americans have had credit scores below 599, and with millions of Americans still out of work and others facing foreclosure, analysts expect the number of people struggling with credit to rise even further.
Our question to you today: Are you concerned about your credit score?
The Associated Press contributed to this report.