some help please

[under600]

I guess my story is the same as allot of you out there. I am 40 and I just started to realize how important this FICO score is. I never checked my credit report before until 2 weeks ago and wow I have some work to do.

I'm new to the forum and have a couple questions. I had a state tax lien reported back in 2003 because of unemployment benefits I received while I was working( not a good idea). I had a payment arrangement but did not follow thru and my wages were garnished. The debt was paid in record time LOL. I just checked my credit report and all three agencies has  it's status as RELEASED. Does any one know what that means and should I have it changed to satisfied or paid.

My second question is I suscribe to True credit and I receive information on all three of my credit reports but I read in here that the scores they give you are not FICO but FAKO why is that and is there a big differnce amongst the two or is the FAKO score a pretty good indicatoe.

Thank you for your time

[Anonymous]

I'm brand spankin new here but from what I've read the FACO scores can be way off what your actual FICO's are.  As far as tax liens I had one and it stayed on my credit for 10 years (Texas) even though it was paid in full and released.  I just pulled my EX and EQ and for the first time since I started checking my credit ~ about 2 years now ~ it's GONE!  I know that EQ and EX moved up a few points...EQ is 532 and EX is 516 and they were both in the high 400's last year.  I still have ALOT of work to do but I'm finally reaching a point where I'll be able to start paying some CO's off and hoping for PFD's and some GW along the way!

Good Luck to ya!!

[Anonymous]

---

under600 wrote:

I had a state tax lien reported back in 2003 because of unemployment benefits I received while I was working( not a good idea). I had a payment arrangement but did not follow thru and my wages were garnished. The debt was paid in record time LOL. I just checked my credit report and all three agencies has  it's status as RELEASED. Does any one know what that means and should I have it changed to satisfied or paid.

My second question is I suscribe to True credit and I receive information on all three of my credit reports but I read in here that the scores they give you are not FICO but FAKO why is that and is there a big differnce amongst the two or is the FAKO score a pretty good indicatoe.

---

Pulling your reports thru annualcreditreport makes sense for a number of reasons. Gives you your actual reports showing adverse/good assessment of your TLs. But it does sound like it's adverse.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=12881

IMHO, TC and MFSW are both worth having.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=5457