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Still Negative?

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Crossdivided
Established Contributor

Still Negative?

Ok so I set up a payment plan with DHS to catch up on the back insurance bill (even though they reported it as "child support" but whatever). Its WAS listed under negative accts with current status past due 120+, and bal due (but no monthly history so not showing 120's for x number of months). My focus WAS going to be (on payday) to pay it to 0, and then GW them to delete (its my understanding they do it automatically but not the point of this thread). After making my first payment, they updated to the following:

 

Account opened: 8/2008
Description: Child/family support
 Previously reportedNewly reported
Balance:$921 
Past due:$0$0
Status:At least 120 days or more than four payments past duePays account as agreed
Last activity:Not on Record2/1/2013
Description:Child/family support
Collection account
Child/family support

 

 

 

So, since its status 'pays as agreed', and has no history to show the past 120s, and they dropped the 'collection account' description, would the FICO model still be reading it as a negative? Im basically trying to figure out whether to stick to the payment plan (no threats of garnishments etc while current) and focus the lump sum elsewhere, or pay it off (and deplete my next month's 'work on credit score' money. Just comes down to it still being a 'negative' or not.

Message 1 of 7
6 REPLIES 6
guiness56
Epic Contributor

Re: Still Negative?

FICO scoring is unbiased because it does not consider race, color, sex, marital status, salary, residence location, interest rates being charged, child support or rental agreements. FICO only looks at credit behavior which results in more consistency as to who gets approved and who doesn't. Using credit scoring, lenders can focus only on the facts related to credit risk, rather than their personal feelings.

Message 2 of 7
Crossdivided
Established Contributor

Re: Still Negative?

Ah, just checked TU (the above was EQ), and they are listing the same thing (pays as agreed etc), but they give a payment history of all 'ok'. The cut n paste isnt showing up as 'ok' but its there on every months entry.

 

Recent payment history [?]

2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2011 2012 2013
OKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOK
Message 3 of 7
Crossdivided
Established Contributor

Re: Still Negative?

hhmmm...so since its 'child support' in description, the model would just ignore the entry entirely?

Message 4 of 7
guiness56
Epic Contributor

Re: Still Negative?

Message 5 of 7
Crossdivided
Established Contributor

Re: Still Negative?

Hmmm well my latest score jump came with that SW alert and there were no other changes to CR. Weird. Maybe just cuz it was a 120 before. Who knows.
Message 6 of 7
Shogun
Moderator Emeritus

Re: Still Negative?

I don't see a negative aspect to that TL, however I don't see the entire monthly reportings.  But from what I see here, it's OK>

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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Message 7 of 7
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