Hi

[Anonymous]

So after doing some research I read that autofico and fico scores are completly different. Well my question is this. If I have a repo that will drop on July 2011 on my regular report, will this also drop on an autofico report or will it still be there for the dealer to see?

[Anonymous]

There are many "flavors" of FICO. The traditional FICO you talk about has a few different iterations and versions of their own, each tweak the math that they use to come up with a score, based in a way to convey risk in a certain level.

All Forms of FICO (and credit scoring in general) only take into effect the information in your credit report.

if there is no information, or specific bit of information in your report, then that cannot be used to factor your score.

[Anonymous]

okay I get it, So if its been dropped then its dropped entirely from all reports. Right?? Another question is I'm planning on getting financed for an auto loan around September of this year. Will the account still be on there even though its saying it will drop on July ??? If so, will it help my score in such  little time so that I am not effected by high interest rates.

[guydiver]

Each credit bureau adds and drops information independently.  Just because one does something, doesn't mean the others will.  If your report says it will drop for a certain bureau, then you can be reasonably sure it will drop on or about the first day of that month.  You would have to monitor your reports, all 3 of them, to know whether or not the information drops from all three, assuming that all three contain the same negative information, which isn't always the case.  Only way to do that is to pull the reports individually (EQ,EX,TU). If you have a 3 in 1 monitoring service you can pull on a daily basis, that would also be an advantage.  Your actual Fico score would be immediately affected since the negative information is no longer there to influence the score, how much effect depends on your credit situation, any other automobile loan history you may have, and the type of report pulled by the lender(auto-enhanced,beacon,etc....).