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Question about charge off

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CS800
Super Contributor

Question about charge off

I was looking at my Experian and ther is an item as follows:

 

Status: Account charged off

 

Status detail : This account is scheduled to continue on record until Dec 2012

 

Does this mean that after Dec 2012 it will drop off my Experian file?




Message 1 of 16
15 REPLIES 15
MBOhio2
Established Contributor

Re: Question about charge off

Yes, that means that it will drop off your Experian report around Dec 2012.

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 2 of 16
CS800
Super Contributor

Re: Question about charge off

Thanks thats good news.

 

This collection is only on my Experian, nothing on EQ and TU whch is weird.

 

Also is a collection like a late payment i.e. with time ti affects you less? I don't think so but if you can confirm that. Thanks




Message 3 of 16
MBOhio2
Established Contributor

Re: Question about charge off

I believe that all negative items have less impact with time, including charge offs.

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 4 of 16
CS800
Super Contributor

Re: Question about charge off

MB:

 

I noticed that you have FAKO in your signature, what's the significance compared to FICO?

 

Do lenders, banks use FAKO?




Message 5 of 16
guiness56
Epic Contributor

Re: Question about charge off

No, lenders don't use FAKO only FICO.

 

A FAKO is a fake FICO score.  You get them from 3 in 1 reports, other sites ect.

 

The only true FICO scores can be bought here, and  EQ.  EX no longer sells their FICO score to the consumer.

 

You can have much larger FAKO scores than FICO and vice versa.

Message 6 of 16
MBOhio2
Established Contributor

Re: Question about charge off

No, lenders do not use FAKOs... they only use real FICOs. However, I believe it was in 2008, Experian stopped selling real FICOs to consumers so the only way you can get your real EX FICO is if a lender provides it to you after pulling your credit or if you're a member of some credit union in PA. I don't know much about the credit union in PA and I feel like 2/3 FICOs is good enough to have a good feel for my credit score. For Experian, I just keep an eye on the actual report content with a credit monitoring service directly through Experian to make sure I know what's on it. While I do list my EX FAKO (Experian calls it a "PLUS" score) in my signature, I will warn you that FAKOs can be very inaccurate so don't put much weight in them. Defintiely pull your real EQ and TU FICOs from here on myfico.com

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 7 of 16
CS800
Super Contributor

Re: Question about charge off

So would Credit Karma be TU's FAKO?




Message 8 of 16
guiness56
Epic Contributor
Message 9 of 16
MarineVietVet
Moderator Emeritus

Re: Question about charge off


@guiness56 wrote:

No, lenders don't use FAKO only FICO.

 

A FAKO is a fake FICO score.  You get them from 3 in 1 reports, other sites ect.

 

The only true FICO scores can be bought here, EQ and Transunioncs.com.  EX no longer sells their FICO score to the consumer.

 

You can have much larger FAKO scores than FICO and vice versa.


Hi guiness,

 

I know you've been away for awhile but just in the last few weeks or so www.transunioncs.com seems to have stopped selling a TU FICO. None of us know what happened exactly. 

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 10 of 16
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