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FICO Score Simulator?

Senior Contributor

FICO Score Simulator?

Does anyone know if the FICO score simulator assumes that if have items in collection that they STAY in collection when it "predicts" your score?

To be clearer ('cause I don't think I'm being very clear at all) ... we have 3 accounts in collections and one tax lien -- they will come off (hopefully -- am PFDing my patootie off) within the next few months (fingers crossed, of course) ... so when I put in the FICO score Simulator that we'll pay 3 months on time, it predicts that our score will go up approx. 60 points.

Is this generic? Or is it considering the current situation, vis a vis the collections that are on there? If the collections come off completely, will that raise the score higher than what FICO SS is predicting?

I'm sorry to be so confusing!!! Smiley Sad


Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 1 of 2
Moderator Emeritus

Re: FICO Score Simulator?

The score simulator looks at your overall report and bases the score change on the actions you indicate as well as the rest of your report. (The way I understand this)
Since collections are supposed to remain for 7 years, I think when the score simulator predicts your score, it predicts it considering the fact you have collections.
Removing all 3 collections and public records will likely give you a score boost. However, you could experience rebucketing, which may or may not offset some of that gain.
Removing just one or two of the collections will likely give you very few points.
In the search box above you can type in "buckets" or "rebucketing" and read more.
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