topic Re: Child Support in General Credit Topics

Child Support

Anonymous — Tue, 15 Nov 2011 17:36:23 GMT

Ladies/Gentleman,

There is a vast amount of information regarding child support and its affect on FICO scores. I would like to get a definitive answer once and for all!! If your child support is in arrears or reporting late currently or in the past, does that affect your FICO scores? I have read that FICO does not factor child support information, positive or negative. Which is correct? Does any type of child support information affect your credit score whether it be positive or negative? Thank you everyone for your help! Have a great day!

Re: Child Support

MarineVietVet — Tue, 15 Nov 2011 17:46:30 GMT

@Anonymous wrote:
Ladies/Gentleman,

There is a vast amount of information regarding child support and its affect on FICO scores. I would like to get a definitive answer once and for all!! If your child support is in arrears or reporting late currently or in the past, does that affect your FICO scores? I have read that FICO does not factor child support information, positive or negative. Which is correct? Does any type of child support information affect your credit score whether it be positive or negative? Thank you everyone for your help! Have a great day!

Hello and welcome.

FICO will exclude certain items from your CR and one of those is child support. It doesn't matter if you are reported late throughout or on time, FICO will completely ignore that account.

Here's a quote from Barry, admin on myFICO:

FICO scoring is unbiased because it does not consider race, color, sex, marital status, salary, residence location, interest rates being charged, child support or rental agreements. FICO only looks at credit behavior which results in more consistency as to who gets approved and who doesn't. Using credit scoring, lenders can focus only on the facts related to credit risk, rather than their personal feelings.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Child Support

Anonymous — Tue, 15 Nov 2011 18:16:25 GMT

Thanks for the reply! I have read that before but I have also read things on this forum that contradict that so I was trying to get a definitive answer. It says that it doesn't consider child support, but not very clear on whether it considers them when they go delinquent. Thanks for your responses in advance!

Re: Child Support

MarineVietVet — Tue, 15 Nov 2011 18:26:16 GMT

@Anonymous wrote:
Thanks for the reply! I have read that before but I have also read things on this forum that contradict that so I was trying to get a definitive answer. It says that it doesn't consider child support, but not very clear on whether it considers them when they go delinquent. Thanks for your responses in advance!

FICO will completely ignore that account whether you are reported late throughout or on time

Re: Child Support

Anonymous — Tue, 15 Nov 2011 18:28:41 GMT

Thank you so much! You have ended a heated debate here in our office! Thank you!

Re: Child Support

Anonymous — Tue, 15 Nov 2011 18:52:14 GMT

While I believe you as you are an administrator, the folks who are disagreeing with me are asking if FICO clearly states the specifics in writing as it pertains to child support. Is there anywhere to find that?

Re: Child Support

MarineVietVet — Tue, 15 Nov 2011 19:01:45 GMT

@Anonymous wrote:
While I believe you as you are an administrator, the folks who are disagreeing with me are asking if FICO clearly states the specifics in writing as it pertains to child support. Is there anywhere to find that?

I'm only a moderator. The administrator of this site who was quoted has these credentials:

Consumer Affairs Manager at FICO
myFICO Forums Community Manager at FICO
Customer Service Manager at FICO

I'm not sure how much higher on the food chain they'd like to go?

But I'll see what else I can find.

You know though that some folks won't admit they are wrong about something no matter what evidence is presented.

Re: Child Support

Anonymous — Tue, 15 Nov 2011 19:05:26 GMT

You are absolutely right!!! They contend that it says that "it does not consider child support" and it does say that but that it could be interpreted as it doesn't consider child support unless there is a delinquency. I think that if it doesn't consider it, it doesn't consider it but they think that a late payment or collection of any kind will affect you. What are your thoughts?

Re: Child Support

MarineVietVet — Tue, 15 Nov 2011 19:08:43 GMT

Here is a link that talks about What's Not In Your Score.

Among other things it says: Any items reported as child/family support obligations or rental agreements.

ETA: The key word being "Any".

Re: Child Support

Anonymous — Tue, 15 Nov 2011 19:19:58 GMT

Yeah, that link references what we are in the office are in disagreement about. They say that it does not consider any items meaning any tradeline that is a child support tradeline but that once it reports as an I2 or O2 - 9 that it will be considered. I think that no matter what the status that it will not consider it. Has that always been in affect or was it new to FICO 08? Are there any FICO scoring modules that do consider it? Thanks for all your help.

Re: Child Support

MarineVietVet — Tue, 15 Nov 2011 19:27:31 GMT

@Anonymous wrote:
Yeah, that link references what we are in the office are in disagreement about. They say that it does not consider any items meaning any tradeline that is a child support tradeline but that once it reports as an I2 or O2 - 9 that it will be considered. I think that no matter what the status that it will not consider it. Has that always been in affect or was it new to FICO 08? Are there any FICO scoring modules that do consider it? Thanks for all your help.

I don't know about those 2 questions but I will try and find out.

Re: Child Support

Booner72 — Wed, 16 Nov 2011 00:39:25 GMT

What if the state puts a judgment on your reports for arrears? Would that judgment not be factored?

Re: Child Support

MarineVietVet — Wed, 16 Nov 2011 00:39:35 GMT

Ok here are 2 comments directly from the administrator of this site and if someone chooses not to accept them I don't know what else to do.

The score ignores child support, whether it's being paid on time or late or not at all.

No FICO models consider child support

Re: Child Support

MarineVietVet — Wed, 16 Nov 2011 00:42:07 GMT

@Booner72 wrote:
What if the state puts a judgment on your reports for arrears? Would that judgment not be factored?

It's not supposed to. You notice I emphasized the word "supposed".

FICO scoring does not count child support period.

Re: Child Support

Anonymous — Wed, 16 Nov 2011 01:30:05 GMT

You're the man MarineVietVet! Thanks for your help and your service! Is there any way to contact you directly in the future? Thanks again!

Re: Child Support

MarineVietVet — Wed, 16 Nov 2011 02:08:59 GMT

@Anonymous wrote:
You're the man MarineVietVet! Thanks for your help and your service! Is there any way to contact you directly in the future? Thanks again!

Oh you'll see me around here. You can always send a PM (Private Message) to any member but I like to tell folks that the collective knowledge available in the public forums is a much better resource than just one person't view or opinion.

And there are many, many, many people here much smarter about all this than I am. I see that every day.

Re: Child Support

Anonymous — Wed, 16 Nov 2011 02:31:43 GMT

I am thoroughly familiar with the FCRA, FDCPA, FACTA, HIPPA, and credit in general but having definitive answers on how FICO scores is imperative so thank you. The problem with the collective is you get inaccurate, unverifiable information sometimes. That's why going directly to the source is an important reference! Thank you!

Re: Child Support

Anonymous — Wed, 16 Nov 2011 16:55:30 GMT

Hauling also posted a great resource - the FICO Risk Score Reason Codes. Can't beat that!

Re: Child Support

Anonymous — Wed, 16 Nov 2011 21:22:51 GMT

well this thread is a bit confusing well at least in my case anyways. im behind on child support through state of florida so on my credit report it comes up state of florida dept of renenue and under creditor reasons it says child support alamony. ive contacted the state about getting this off my record as im behind around 1000 and they said they wont do anything until im cought up 100% anyways the point in me posting this is when i applied for a chase freedom card i got the denial letter in the mail and they told me reason for denial was a recent negative on my report so i thought no way cause all the 4 that i have are around 4-5 years old so i called them and was told the reason is child support and that is affecting my score every month being its reported 120 days late

Re: Child Support

Anonymous — Wed, 16 Nov 2011 21:31:06 GMT

dont get me wrong i do plan on gettiing current with my child support but what would be the point in the state reporting child support and them sending me letters stating they will affect my credit if fico scoring doesnt take that into factor?