FICO Mystery

[Anonymous]

Does anyone know of an accurate way to simulate the effect of certain actions on the Fico Score?  For instance, in some cases PIF can cause a drop.  In other cases opening or closing accounts can change things.  I had tax lien issues, after doing exactly what I was told to do by the IRS, I found out that you can't get a lien withdrawn after a release.  What good did it do to pay that in full.  The mysteries continue .... General guidlines are good.  Accurate specific information would be great.  Any suggestions? 

[Anonymous]

The FICO simulator here at myFICO is good - but is limited in the actions it can simulate.

As far as the IRS is concerned - be glad you paid them-

They WILL get their $ and the time clock on the lien does not start until it's paid.  

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dkg wrote:

Does anyone know of an accurate way to simulate the effect of certain actions on the Fico Score?  For instance, in some cases PIF can cause a drop.  In other cases opening or closing accounts can change things.  I had tax lien issues, after doing exactly what I was told to do by the IRS, I found out that you can't get a lien withdrawn after a release.  What good did it do to pay that in full.  The mysteries continue .... General guidlines are good.  Accurate specific information would be great.  Any suggestions? 

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[jackg]

dkg,

The FICO score simulator that you've been playing with does not give answers based on the specific information in your credit report, therefore the answers you get are pretty much useless, in my opinion. So, you now understand why no one can answere your 1st question with accuracy.

Next, I also have a tax lien, and it was released in March 2001. Tax liens will fall off 7 years after the release date and you should be glad you paid them because if you don't and you have any assets they WILL take them. Also, if you don't pay them it will follow you for at least 15 years.

One more piece of info for you, I know that as time goes by the negative impact to your FICO score caused by the lien is discounted. Mine, for example, will fall off shortly and I don't expect to see an increase to my FICO score othe than maybe just a couple points.