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Rapid Repayment of Installments...

Moderator Emeritus

Re: Rapid Repayment of Installments...



ilovepizza wrote:


fused111 wrote:
4. NO!



I did not know that. I always thought Auto installment debt counted lighter but still negatively to your score. Is it only Auto debt or all installments debt is ignored? Smiley Happy

Installment is installment!  On time payments are what counts.  Revolving debt carries much more weight. 
Message 21 of 52
Senior Contributor

Re: Rapid Repayment of Installments...



ilovepizza wrote:
4. The debt is counting against you on your score.

fused111 wrote:
4. NO!

ilovepizza wrote:
I did not know that. I always thought Auto installment debt counted lighter but still negatively to your score.

fused111 wrote:
Installment is installment! On time payments are what counts. Revolving debt carries much more weight.



RE: "much more weight"
I'm confused. Does the debt early in to the Auto installment (fewer payments, high balance) have any effect on the FICO score? Please do not think that I am trying to nitpic, your answer was no. I take things very literally. I took the answer of no, as debt not calculated as a factor. I just am trying to learn if I was wrong. I have been telling people that it does effect their score in this instance. Smiley Sad

Message Edited by ilovepizza on 06-20-2007 02:23 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 22 of 52
Moderator Emeritus

Re: Rapid Repayment of Installments...

Any debt affects your util\score. Revolving just matters MUCH more.
Message 23 of 52
Established Member

Re: Rapid Repayment of Installments...

Pay down your loans as soon as possible to save on interest. 
Message 24 of 52
Regular Contributor

Re: Rapid Repayment of Installments...

This spam is getting really old.
 
Bob, you voiced your opinion many times over and we get it. This isn't a 'get out of debt' board, though; your message really doesn't fit in here.
 
Thanks and have a good one.  Smiley Happy
Message 25 of 52
Established Contributor

Re: Rapid Repayment of Installments...

Smiley TongueNo kidding!
 
Rob


Message Edited by FICO_Focused on 07-03-2007 12:21 AM
Message 26 of 52
Moderator Emeritus

Re: Rapid Repayment of Installments...



bobkelly wrote:
Pay down your loans as soon as possible to save on interest. 


Your right if you want to save $$. However, many at this forum are trying to improve their FICO scores and overall credit rating. Sometimes certain actions do not help you do both.
 
 
 
Message 27 of 52
Senior Contributor

Re: Rapid Repayment of Installments...

Message 28 of 52
Frequent Contributor

Re: Rapid Repayment of Installments...



bobkelly wrote:



Is there a way to block this edit from showing up when I read a thred?

 

--

No need for name calling. Thanks!

-Tusc



Message Edited by Tuscani on 07-03-2007 01:26 PM
Message 29 of 52
Moderator Emeritus

Re: Rapid Repayment of Installments...




MODS, MODS, MODS! Please dump this post!


Message Edited by Tuscani on 07-03-2007 01:20 PM
Message 30 of 52