01-26-2013 02:41 PM
If they are reported on your Credit reports, showing responsible payment history always builds up your credit profile.
Since it is a student loan and an installment loan it will not help as much as revolving credit, but its a good part of a mix of credit.
01-26-2013 02:45 PM
01-26-2013 02:48 PM
01-26-2013 02:55 PM
01-26-2013 03:17 PM
DoFD= Date of First Delinquency – This is the date of the delinquency that led to the collection/charge off status. This is NOT the first time you were ever delinquent on the account. It is the last time you got behind on payments and never again got caught up. If you are looking at your EX or TU report, it may not show DoFD, instead it will say “This account scheduled to remain until XXXXX” or something to that affect, subtract 7-7.5 years from this date and you will have DoFD.
SOL= Statute of Limitations—this is state based and sets the time limit the creditors have to sue you to recover their money. Now, they can sue after this time expires, but you must show up in court and use “expired SOL” as your defense and you win. Never ignore a summons just because you are past SOL. If the creditor arrives in court and you fail to show then you will lose a default judgement.
01-26-2013 03:20 PM - edited 01-26-2013 03:22 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.