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MY FICO IS A FRAUD

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guiness56
Epic Contributor

Re: MY FICO IS A FRAUD

That new of a major derogatory will almost certainly hold your score down.  Even though they fade with age, they will negatively impact your score for almost 7 years.

Message 61 of 80
mauve
Valued Contributor

Re: MY FICO IS A FRAUD

It's my understanding that a 180 day late (or is it as low as 120?) is the equivalent of a foreclosure, in credit reporting terms, and it isn't even a year old.

 

Also, you have a chargeoff, less than a year old.

 

Also, it sounds like you have no open revolving credit at all.

 

Each of these things is holding your score back. 15 180 day lates aren't necessarily any worse than 1 180 day late, especially if the 1 left is from less than a year ago.

 

I'd ask on the mortgage boards how recent a 180 day late can be and still get approved for a mortgage. With that on your record that recently, it may not matter where your score is.

 

Plus, if you don't have any revolving credit at all, you're missing out on 30% of your score.

 

 

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 62 of 80
koky
Frequent Contributor

Re: MY FICO IS A FRAUD

All my Negs on my SL are been changed to Positives..
Message 63 of 80
mauve
Valued Contributor

Re: MY FICO IS A FRAUD

You said that was the case on your Direct Loans and that you still had a 180 day late from Sallie Mae. Did I read that wrong? How many 180 day lates do you have on your current reports?

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 64 of 80
koky
Frequent Contributor

Re: MY FICO IS A FRAUD

1 180... All my Negs from Direct loans and Perkins Loans have been changed to Positives... Paid as Agreed/Never Late...
Message 65 of 80
mauve
Valued Contributor

Re: MY FICO IS A FRAUD

Most recent date of a Perkins 180, most recent date of a Direct 180, most recent date of the current Sallie Mae 180....

 

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 66 of 80
koky
Frequent Contributor

Re: MY FICO IS A FRAUD

Perkins Loan 6/12 , but got updated to current/ Never Late
Direct Loans: 4/12 also updated to current/ Never Late
Sallie Mae 6/12, but current haven't been late since then...
Message 67 of 80
mauve
Valued Contributor

Re: MY FICO IS A FRAUD

That would explain why it didn't change your score.

 

Keep working on Sallie Mae, and start goodwilling that chargeoff. Also, consider opening a secured credit card. Check the credit card boards for suggestions.

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 68 of 80
DaBears
Senior Contributor

Re: MY FICO IS A FRAUD

If those loans are the only thing being reported on all your CR's that is why you are not seeing a bump as fast. You need some type of revolving credit, Installment loans have very little affect on fico scoring. Fico like to see credit being utilized every month.

Message 69 of 80
koky
Frequent Contributor

Re: MY FICO IS A FRAUD

I have a Secured Credit Cards but it just hasn't started reporting yet..
Message 70 of 80
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