Score less than 400

[Anonymous]

Has anyone ever seen it? I have never seen or heard of someone with a score of less than 400 and I work at a bank. Obviously it is like pulling teeth to get into the illusive 800 Club and I am curious if it is just as hard to get into the 300 Club. I don't judge anyone if they ever had a 300-something score, I am just wondering if it exists...

[PayYouNever]

My brother has a 398. He had several defaulted and in collections student loans, two credit cards as Charge-offs, a checksystem issue with a business account and a personal account.

He just doesn't care... for some reason, and now is out of the country for the next few years.

[Anonymous]

I am assuming it can happen as doesn't the Fico range say 350 to 900? Let me look at I will cut and paste.

[Anonymous]

Here's that famous chart that appears a little inflated to me, I could almost promise that the cutoff was 350- but I don't know if it goes as high as 900...

major credit reporting agencies.

[Anonymous]

From what I have heard around the forums, it seems to me that defaulting on student loans is possibly the worst thing you could do to your credit score. I mean, I have seen people with 2 or 3 repossessions/foreclosures/bankruptcies/collections, EVERYTHING---and they still have 500-600 scores (and sometimes even 650+). I just wonder why student loans can hurt you so much if you default...I guess since they are great loans to get it is like double punishment when you don't pay them.

...but I don't know what I am talking about!

[Anonymous]

i defaulted on my student loans then they sold them to another comapany for student loans and charged them off again. I think that is why they are so bad on your report. I use to get one bill in the mail that combined them all as one account but on my credit report they listed as five so when i defaulted they went to another company as 5 defaulted loans which in turn became five more charge offs . so i had a total of ten charge offs from one account. credit score still didnt go below 500. even with all those charge offs plus others. been about 5 months since i settled the balance on them and my score is up 75 points

[Anonymous]

It is so bad to default on them cuz they are federally backed even if it is unsubsidized,and you go to a class- or now it is an online orientation- and they tell you over and over and make you sign that if you default they will "haunt you forever" lol!!!

I defaulted on a small one but got it current and paid- (this was a long time ago when I was in my 20's)  and now that is one of the last baddies I am taking care of. KHELSC has agreed to mark them current and paid but I am having trouble w/ CSC.

Again, cuz it is gov. money.

Message Edited by netpanther on 09-25-2007 12:43 PM