Calculating a FICO score...

[Anonymous]

First of all let me say how excited I am to have found these forums!! I am in the process of trying to rebuild my credit and I'm going to be full of questions. My first question is: I recently applied to get my FICO score but was sent a message stating that my credit report does not currently contain enough information to meet the minimum scoring criteria required to calculate a FICO score. What does that mean? I have all 3 CR scores from TrueCredit.com (528, 500, 526) and I know my credit is Poor so why wouldn't the info that's used to assess a Poor credit rating also be used to calculate my FICO score.

[Tuscani]

What's all on your reports?

[Anonymous]

It's not a pretty sight! I have 3 charge-off's, 1 account that's been transferred, 1 PIF for apartment collection, and 10 accounts in derogatory status. 6 of the accounts are medical, 3 are utilities, an involuntary repo, and 2 secured credit card accounts. One of the utilities is scheduled to fall off in September but I am planning to pay the others in off. Will this help me in my quest to rebuild my credit? Also the involuntary repo has recently been transferred to another collection agency and the "date opened" date has changed on my CR's. Do I need to dispute this? Will the account still fall off in 7.5 years from the DOFD?

[Anonymous]

I would call The CRA"s asap on those accounts that have recently been transfered. tell them that you want to know the date of removal for those accounts. Collection agencies will try to re age debts so that they can continue to report to the credit bureaus even after the allowed amount of time.

[Anonymous]

Thanks I'll do that!

[Anonymous]

Can anyone answer my original question in regards to why I am unable to receive a FICO score??

[Tuscani]

Maybe your history would not even quailify for a 300.. haha! JK. Honestly, I am not sure. Have you called customer service?

[smallfry]

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@Tuscani wrote:

Maybe your history would not even quailify for a 300.. haha! JK. Honestly, I am not sure. Have you called customer service?

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It's not unheard of. I know someone who doesn't have enough history that is current to even generate a score. BK wiped out everything 12 years ago and now all they have on their reports are medical collections.

[Anonymous]

That happened with my husband once, he wa told he didn't have any recent credit to obtain a score. Do you have any recent accts?Active accts?

[Anonymous]

No I do not. I realize I have to re-establish my credit so I'll be applying for a secured card through my bank next month.