Inaccurate scoring

Anonymous · ‎05-09-2007

Fair Isaac is going to have to change the way they are scoring a consumer's credit worthiness - my score is the lowest it has ever been due to a court order in a divorce - my attorney and judge instructed me not to pay particular bills and after they were late a few times I ignored the order and began paying on time. I also had to close a military credit card at that time due to the disassociation with my husband who was in the military. Again, my score dropped. I just paid off quite a few debts, credit cards etc, and once again, this counted against me. Now whats wrong with that picture. I am extremely conscientous about paying my bills on time and in no way do I see a rational way of Fair Isaac scoring. Something is going to have to be done to be much more accurate and take into consideration circumstances that are out of a consumer's hands. I intend to see that steps are made to change this system.

Anonymous · ‎05-21-2007

I 100% agree with you. The credit scoring system is completley unfair and unpredictable. I am interested in knowing what you are doing to change the system?

Anonymous · ‎05-21-2007

I agree too. This system is for rich people they normally don't need there CR. People they have problems through diff. reasons, they want to get out of there mess and want to get back on track, are falling deeper and deeper. Try to get every fixed and hurt themselves without there knowledge how the score is reflected. There is no help from the bureau's and every things cost a lot of money, which they don't have. I hope it will be changed very soon. Most of all, I hope they will put all 3 CB together in One. I'm happy to found this forum.

Schnuller

MidnightVoice · ‎05-21-2007

In my (not very) humble opinion, this forum is the best place to learn. It is all very well reading books written by very rich people on how to do it, but here you get help from ordinary folks who have "BT,DT", or are actually still there and actually doing it.

That is much better for me

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎05-21-2007

@MidnightVoice wrote:
In my (not very) humble opinion, this forum is the best place to learn. It is all very well reading books written by very rich people on how to do it, but here you get help from ordinary folks who have "BT,DT", or are actually still there and actually doing it.

That is much better for me

I totally agree. Reading what people on this forum are saying and more importantly, doing, to help themselves is a real motivator for me. It is difficult for me to read a so-called expert's book or article because to me they do not have any credibility. Somebody that has taken responsibility for his own financial standing and comes clean out on the other end is who I want to learn from.

Anonymous · ‎05-21-2007

You all are totally right. But why we have to do this, why we have to spend so much time. Why is this system so complicated? Good to have this forum. It is not very long time ago as I found this forum, but since I'm on the best way to learn. I could see, that other people have the same problems. And some of the experts are very helpful. Thanks to all helper.

Schnuller

Anonymous · ‎05-21-2007

It can be unfair to have an event that you were not in control of effect you for so long. But you are here now and have found the right place. Everyone who was not pre-educated definitely including my self about how the scoring works gets burned here and there from mistakes. I've made plenty of mistakes trying to improve my score and actually dropped it long term. I think you can find many ways to improve your score as I have here. In 1 year your credit score will be much higher. And there are so many nice people here to help. I believe you can leave notes on your credit report for each account and a personal statement to creditors to read when they review your credit reports. I'm sure you will want to start disputing first before you leave any notes. Before leaving notes check to see if you can remove them later when you reach your goals.

Anonymous · ‎05-21-2007

I have been a mortgage lender for over 20 years.Your right about the way they score us.E-mail me and I will share with you how to work with the system[e-mail removed]

Message Edited by Raine on 05-22-2007 01:40 AM

Anonymous · ‎05-21-2007

Fear not, FI will be changing it's scoring model, and don't expect it to benefit you the consumer.

http://www.fairisaac.com/NR/exeres/50BA2249-362D-4334-A74A-B7E9C3B224E6,frameless.htm

Anonymous · ‎05-21-2007

Respectfully disagreeing, while there is useful info here on MyFico forums, the places to learn are CB and CIC.