Understanding FICO® Scoring

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Frequent Contributor
theshadow12345
Posts: 252
Registered: ‎06-27-2007

Dumb Question but...

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‎06-28-2007 04:30 PM

someone please define a Derog account for me please. Is this the same as an account in collections?
 
Im confused!
 
Thanks
TS
 
 
As of 3/17/08 - TU 619 / EQ 666 / Ex 624
As of 4/17/08 -TU 621 / EQ 671 / Ex 626
As of 6/07/08 - TU 627/ EQ 688 / EQ 644
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fused
Posts: 16,158
Registered: ‎03-12-2007

Re: Dumb Question but...

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‎06-28-2007 04:46 PM


theshadow12345 wrote:
someone please define a Derog account for me please. Is this the same as an account in collections?
 
Im confused!
 
Thanks
TS
 
 

A derogatory account is simply any tradeline or account reporting negative or adverse info.  Some examples are, collections, charge-offs, unpaid child support, judgments, wage garnishments, even accounts that are 120 days late (default time) and so on.
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Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Dumb Question but...

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‎06-28-2007 05:39 PM

On TU and EX reports, they break things down into clear categories. Adverse Accounts (derogs) and Good Accounts. Even a single 30 day late is a derog, albeit far less of a derog than a collection or chargeoff.
Newbie Guide - Never be late - Friendly CCCs - CC Tactics
Credit Monitoring - Fax Disputes to the CRAs - Abusive Phone Calls
SOL v. CRTP - DV - I've DVed, now what? - GW - MOV - Recon
Being sued? - Medical bills/collections - Magic Eight Ball
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