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I am certain I read something about medical bills under a certain amount not impacting the FICO as of FICO08, but I can't seem to find anything about it now. Can someone enlighten me?Thanks!!
I couldn't find this infor for FICO08. I don't know if/when we'll see it.
Are these paid medical collections? Have you tried to get them off of your reports so that you won't have to worry about them?
I think the magic number is 100 Dollars. As far as hurting your scores I don't know how much.
@smallfry wrote:
I think the magic number is 100 Dollars. As far as hurting your scores I don't know how much.
Correct! Collections under $100 will not affect FICO scores. Also, it won't matter if the collection is medical or not
Do we have any idea when FICO 08 may start to be used?
@LynetteM wrote:
Do we have any idea when FICO 08 may start to be used?
Its my understanding that it has been offered to lenders, but it might be quite awhile before its widely used. Its still hard to believe that some lenders are still using TU 98, are you kidding me. LOL!