Average Age Question

Anonymous · ‎02-04-2009

Does AAofA also include installment loans (like car loans) or just credit cards?

llecs · ‎02-04-2009

It includes all OC accounts (charge offs, CCs, loans, LOCs, mortgage, SLs, etc.), and does not include CAs or PRs.

Anonymous · ‎02-04-2009

If the CA is reporting it as an installment loan from a factoring company as opposed to a collection it counts though.

smallfry · ‎02-04-2009

@llecs wrote:
It includes all OC accounts (charge offs, CCs, loans, LOCs, mortgage, SLs, etc.), and does not include CAs or PRs.

I would say public records are most certainly counted towards average age. Many people report score drops once a BK drops from reports due to a decrease in average age.

Message Edited by smallfry on 02-04-2009 06:07 PM

fused · ‎02-04-2009

smallfry wrote:
@llecs wrote:
It includes all OC accounts (charge offs, CCs, loans, LOCs, mortgage, SLs, etc.), and does not include CAs or PRs.
I would say public records are most certainly counted towards average age. Many people report score drops once a BK drops from reports due to a decrease in average age.
Message Edited by smallfry on 02-04-2009 06:07 PM

Sorry, but llecs is right. The drop in score you mention might be a change in scorecards (buckets).