10-15-2012 04:44 PM
10-15-2012 07:44 PM
Hi, you may want to do more research as i am not an expert on this, but since your post had no replies yet thought i would tell you what i know about this. Years ago worked briefly for a finance company. Saw a tradeline on a credit report for child support much as you described yours, paid on time, no lates, etc. asked my supervisor about this as had never seen a child support tradeline and was advised that if all positive it was viewed like any other tradeline. I would assume that is still the case today. If you pay it on time and keep it positive it should help your score. Any lates or other derog on it would hurt your score. You may want to do a search on this forum if you have not already. Saw some older posts that said basically the same thing.
10-15-2012 08:18 PM - edited 10-15-2012 08:32 PM
I have an open child support tradeline and I am not happy about it. They have stopped updating it as paid and current over 6 months ago - I have been paid & current for over a year and a half.
Unfortunately, I have thirteen 90+ day late remarks, all accrued while I was making payments. Yes, this is possible when you get a child support order and willfully insist that the order tacks on arrears. Doing this put me thousands of dollars behind, instantly, and I began accruing lates almost immediately. I accrued late payment for years while I was making two payments a month totalling almost double the monthly support amount. The child support office hounded me like I was a horrible person for not having enough money to settle this "debt" all at once and even caused a bounced payment to them when they put lien on my bank account for $4000. Child support enforcement are wicked, evil people who are part of a sick, broken system.
The Federal government entices states through funding, the amount of which is proportionally based on how much child support is collected by the state. The more $$ a state collects in support, the more funding the state gets from the Feds. So, states have an incentive to collect from people who have money and completely ignore the poor people they know will never pay.
Well, now that my story is out I can move on... Supposedly accounts marked Child Support are not included in FICO scoring models. However, I do not think these accounts are always coded properly. Additionally, lates are lates and any report under manual review is going to show these late payments. Like in the above comment, these lates will probably be a red flag.
10-15-2012 08:50 PM
I *believe* that a CS TL isn't *supposed* to be factored into your score, whether positive or negative. However, it can be reported on your CR and individual lenders have the discretion of using it as a factor in whether or not they will give you a loan. Additionally, once csea does decide to report to a CRA, I believe they are obligated to report only accurate information (I.e. update the last several months of acct acty). However, in my experience in both receiving and paying CS from two different agencies in two different states, I've never seen a CSEA that had very good accounting.
10-16-2012 06:41 PM
My husband had the same child support account reported twice on equifax report....it was from 2005 and one showed paid in full and the other showed 700 past due...I just disputed them both and am waiting for final results.....this was paid in 2005 and should be gone by now!!! hated child support back then, had to get a lawyer for my husband to actually get a fair break in court and now that kids live with us child support office has been out of our life for 5 years, we need this off his report whether it makes a difference in the score or not....hate them!!!!
10-16-2012 07:08 PM
My kids and my fiancee actually lived with me for quite a bit of the time I was paying for "late payments" too. Since we were not married the CS office did not care. I had to pay, that was that. We eventually broke off the very long engagement. Yay!
10-16-2012 08:22 PM - edited 10-16-2012 08:56 PM
There's alot of misinformation about child support not affecting your FICO scoring...
If it shows up as a collection(your arrears)will affect his ability to get loans/score, since lenders see the possibility of wages being garnished and tax incomes being forfeited, since it is listed as a judgement/collection...
I mean I can go on...anyone telling you it doesn't affect your credit, is setting you up for failure, including this forum. They need to re-write a few things.
10-16-2012 08:50 PM
I paid my child support back payment in March 2006. Its be paid off to this date and ive not fallen behind sense then. To be fair i was not in this country as the original charges accumilated and paid them as soon as i could. Original amount was $2560
now it shows.
|Account Type:||Family Support|
Does this mean lenders see im paying $125 per month as my child support obligation ?? Because my actual monthly payments are $595 all this for a child i can not see. i have no rights and the mother does everything in her power to screw me over. last year she claimed she only earned $7500 and support services do nothing about it..
10-16-2012 09:33 PM
Does it says this every month? What state is this for?
I really don't have much additional information to offer right now. Maybe soon. Whatever you find out, please keep updating this thread.
10-17-2012 07:44 AM
I'm just wanting a moderator to chime in and give a response to my post above..
What's the truth? Does it affect scoring, like numerous places says it does, or does it not?
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