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My parents received a GW two days ago in which a 30 day late was removed. They pulled their score up today and no change. The 30 day took their score down 80 points. How long does it take to recover?
You might try using the FICO simulator and estimator for future guesstimates on what your score may look like with certain things happening, good or bad.
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=36259
turbowrx wrote:
Got letter about removal. Pulled all CRs, the late has been removed. Only thing strange was on the EX report it was changed from 30+ to No data reported for that month. But... no score change. The late appeared jan 2009 and they lost 80 points. Its gone now and nothing. I dont get it.
@Junejer wrote:
That's a FAKO score. Don't get yourself all worked up over the rise and fall of a FAKO. Many events that would cause your FICO to rise may cause a FAKO to rise, drop or stand still. Conversely, many events that would cause your FICO to drop would cause a FAKO to rise, drop or stand still. The scoring formulas are different, so there is no correlation between a FICO and a FAKO.
I have found that when my cat hacks up a hairball, my fako's drop about 6 pts each.
Rick9972 wrote:
@Junejer wrote:
That's a FAKO score. Don't get yourself all worked up over the rise and fall of a FAKO. Many events that would cause your FICO to rise may cause a FAKO to rise, drop or stand still. Conversely, many events that would cause your FICO to drop would cause a FAKO to rise, drop or stand still. The scoring formulas are different, so there is no correlation between a FICO and a FAKO.I have found that when my cat hacks up a hairball, my fako's drop about 6 pts each.