Credit Card Center Advertiser Disclosure†
04-19-2011 12:59 PM
I'm so confused about something. My husband's credit score is so decent (681) for having a 10k charge off from an auto loan. There was a second auto loan that he stopped paying in 2008, yet that one says it was satisfactorily closed, he NEVER settled or did anything with that account, he just simply stopped paying. What the heck? Its been 2 years since anything has been reported on that 2nd loan.
back to the first loan, how can my husband's credit be a 681 with a 10k$ charge off that's only 1.5 years old??
04-19-2011 01:00 PM
Where did you get the 681 number? Is it FICO or Fakko? That might make a big difference.
04-19-2011 01:04 PM
Where did you get his credit score from?
04-19-2011 01:07 PM
Experian doesn't sell it's FICO score. You can only get it from a lender pull or from a Credit Union in PA. What they sold you is referred to here as a FAKO and is generally useless. No lenders really use that score. Sorry!!!! You can get FICO EQ and TU from here.
04-19-2011 01:29 PM
Did he pay the charge off with the first loan or is there still a balance on it? On the second loan that he stopped paying in 2008 I'm pretty sure that it's still within the SOL of your state being that recent. I personally wouldn't mess with it at all unless you have the cash to PIF because they could come back and sue you. Just because it says that now doesn't mean it couldn't change. They could update or a CA could come out of nowhere on it.
04-19-2011 01:32 PM
we never settled the first one... we'd like to settle it now b/c we got a nice tax refund. We havent gotten calls about it in months though. I'm not sure if they sold it to someone else or not
04-19-2011 01:35 PM
How long ago was it? Do you know Dofd? Do you know your state's SOL. All this factors in. Just post your information and someone in here will probably know.
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.