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Child Support & Score

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
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Child Support & Score

I was disabled for several years when I was initially divorced, and didn't receive disability until much later. Long story short, my child support went into arrears and did nothing but grow. We're talking a LOT of money. Of course, it's been reported on my credit reports and keeps my score at around a 700, no matter what.

Recent events have made things to where the ex is having the debt forgiven. How much can I expect my score to go up when it's removed? I've no other punitive items on my report. Any advice or comments regarding your personal experiences would be appreciated.
11/08/17: EX-580 EQ-572 TU-569
01/28/18: EX-672 EQ-646 TU-676
07/08/18: EX-699 EQ-666 TU-707
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Valued Contributor

Re: Child Support & Score

A question like this will depend on the rest of your report - if you have a typical usage profile and this is your only derogatory, I can’t put a number on it but it should be a pretty healthy bump. Losing the final derog and getting a squeaky clean file seems to yield increases of anywhere from 30-80 points depending on the individual.


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Valued Contributor

Re: Child Support & Score


@Q7 wrote:
I was disabled for several years when I was initially divorced, and didn't receive disability until much later. Long story short, my child support went into arrears and did nothing but grow. We're talking a LOT of money. Of course, it's been reported on my credit reports and keeps my score at around a 700, no matter what.

Recent events have made things to where the ex is having the debt forgiven. How much can I expect my score to go up when it's removed? I've no other punitive items on my report. Any advice or comments regarding your personal experiences would be appreciated.

Even if the debt is forgiven, I believe it will stay on your reports for 7 years.   Not sure how they calculate DOFD for child support.   

 

 


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