If you expect your FICO score to evaluate your total credit worthiness, then you dont understand what FICO is,
It is a repayment risk analysis, not a consumer credit worthiness analysis, Fico has never said it was otherwise, at least not to my humble knowledge.
It is up to creditors to use your FICO score for what it is, as part of their credit decision making, and not to caste dispersions on it for what it
was never intended to be,.
FICO doesnt care one whit about your bank balance, your yachts, or your income, It cares about how, regardless of your total assets, income, or liabilities, you have shown the worthiness of paying the minimum due on time,
If that is a fraud, then it is in the mind of the consumer. Consumers are not the focus of credit scoring, Creditors are.
Creditors dont create debt, consumers do, To create debt, and then complain that you cant get it removed from the vehicle that reports your delinquencies in payment of debt (your credit report) by way of such things as DVs, PFDs, SOL expiration, GW letters is putting the cart before the horse,
Inaccurcies in credit reoorting are a different thing, and are provided for by two dispute proceses under the FCRA. The (crappy) dispute process through the credit reporting agenciies under FCRA 611(a), and the superior direct dispute process under FCRA 623(a)(8)
If repayment of debt in a full and timely manner was not done, that is what FICO dings you for. That is their stated purpose, and not a fraud,
However, it postings that affect your FICO score are inaccurate, the FCRA provides two alternate disptue processes to resovle disputes.
