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FICO Negative Factors-What's Hurting YOUR Score-Accts w/Missed Payments/Derogatory Descr

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Anonymous
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FICO Negative Factors-What's Hurting YOUR Score-Accts w/Missed Payments/Derogatory Descr

My Score is 644.
 
The second major reason my score is low is:
 

You have multiple accounts showing missed payments or derogatory descriptions.

Number of your accounts with a missed payment or a derogatory description
21 accounts

Your FICO score takes into account missed and late payments in a few ways. These include the number of late payments, how late they were and how recently they occurred. Your score was hurt because your credit report shows multiple accounts with missed payments or derogatory descriptions

As I said in my earlier post,

  1. I cannot account for the 21 accounts the FICO report is referring to.
  2. The report reflects NO late payments on ANY account with a stauts of included in bankruptcy or displaying a red flag in the Paid Late? column

What gives here? 

Is my score being impacted 2 times by missed or late payments?

Does a negative STATUS (included in bankruptcy) = a deragatory description?

Does the negative status and the deragatory description (included in bankruptcy) mean my report is negatively impacted twice (once for negative status and onece for deragatory description)?

 

Message 1 of 5
4 REPLIES 4
Anonymous
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Re: FICO Negative Factors-What's Hurting YOUR Score-Accts w/Missed Payments/Derogatory Descr

Outnumbered if these accounts went to collections each is calculated as a different account.  Wht are you using?  Does it give you the option to see negative items separately from all of your accoutns?
Message 2 of 5
Anonymous
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Re: FICO Negative Factors-What's Hurting YOUR Score-Accts w/Missed Payments/Derogatory Descr

Brammy,
 
I am using the credit report purchased thru FICO.COM.
 
The report provides negative reason codes as part of the package.
The package also shows the detail that constitutes the negative items list
 
Those codes are llisted in order or severity of their impact.
 
The accounts did not go to or thru collection
  1. All the accounts were included and discharged in bankruptcy
  2. None of the accounts listed with a red flag or with "included in bankruptcy" show any detail which indicates paid late
  3. I have contact FICO twice and they do not answer the questions and even though they promise to investigate and call back, they don't
Message 3 of 5
Anonymous
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Re: FICO Negative Factors-What's Hurting YOUR Score-Accts w/Missed Payments/Derogatory Descr

Not sure which report you have but in Suze's report, you can actually click on a tab that will list negative items seperately. I would have to see it to give anymore insight.  How many total accounts do you have listed?  The sommnt included in BK is a negative as well.
Message 4 of 5
Anonymous
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Re: FICO Negative Factors-What's Hurting YOUR Score-Accts w/Missed Payments/Derogatory Descr

Brammy,
 
I went to to FICO web site and purchased my 3 reports and scores.
 
If it is possible to post graphical images I can takea  screen print and you can see exactly the report format.  Basically, the packge includes your credit report and score, then tabs across the top that allow you to see negative reason codes (why your score sucks), then detail that supports those assertions.  There are two posts I made to the forum, one concerns the negative items not showing late payments when clicking on the DETAIL link...and this is true for accounts simply listed as included in bankruptcy and those that also have a red flag icon indicating late payments.
 
Message 5 of 5
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