topic Re: Need advice in Understanding FICO® Scoring

Need advice

Anonymous — Tue, 08 May 2007 18:47:02 GMT

I've been monitoring my credit for some time since getting divorced. Went bk in 98, and had a judgement against me that is paid in full - it has taken me over a year to get to 612. I only have two cc's that I keep very minimal balances on. I don't need to, but I always thought usage improves the credit. Anyway, today I received a credit alert from myfico. Because one of my credit cards increased $12 (balance is now $156 on a $900 limit) my score decreased 21 points to 591. How does that work??

Also, need advice on if I am able to dispute bk on my credit since it has been 9 years, and also the judgement - I settled and paid after court for 50%, but it shows I owe the original amount. Obviously, I would want the cr updated but is there a way I can get it removed altogether since I paid it like the day after I was ordered to?

One last question, I thought unpaid medical bills cannot be reported to your credit report??

Re: Need advice

Anonymous — Tue, 08 May 2007 20:17:58 GMT

tangeliques wrote:
I've been monitoring my credit for some time since getting divorced. Went bk in 98, and had a judgement against me that is paid in full - it has taken me over a year to get to 612. I only have two cc's that I keep very minimal balances on. I don't need to, but I always thought usage improves the credit. Anyway, today I received a credit alert from myfico. Because one of my credit cards increased $12 (balance is now $156 on a $900 limit) my score decreased 21 points to 591. How does that work??

Also, need advice on if I am able to dispute bk on my credit since it has been 9 years, and also the judgement - I settled and paid after court for 50%, but it shows I owe the original amount. Obviously, I would want the cr updated but is there a way I can get it removed altogether since I paid it like the day after I was ordered to?

One last question, I thought unpaid medical bills cannot be reported to your credit report??

Unpaid medical bills can be reported just like any other collection and they seem to be harder to remove.

Depending on which chapter you file the chapt 7 will stay on for ten years and 13 for 7.

That small of an increase would not hurt your score unless you have other cards that are higher balances and that one increase put you over some magic utilization threshold.

Re: Need advice

Anonymous — Tue, 08 May 2007 20:27:22 GMT

I filed chapter 7. So is it the date in which you filed or the discharge date?

As far as the 21 point jump - there was no other activity according to myfico.

Thanks for the info Brammy.

Re: Need advice

Tuscani — Wed, 09 May 2007 18:18:29 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689