jbhenrietta wrote:
Hello! I have a few questions to post.
1. How are judgments calculated in scoring? As in, are they revolving, installment, or somewhere else?
2. How likely will a score be affected once a judgment is updated as satisfied? It was placed in 12/06 and satisfied 03/09
3. Will this cause a bucket change? And what does bucket change actually mean and how can you get "re-bucketed"?
4. If revolving utilization was at 106% in Feb and now at 86%, will this gain several points?
5. A med collection should be removed next month, just reported for the first time 01/09, will this gain several points when removed?
Thanks in advance!
1) Judgments are considered and scored as public records.
2) I'm a bit weak on PRs, but I think there's no difference between satisfied and unpaid score-wise. The mere presence is what is hurting you. Like with CAs, the balance does not matter.
3) You will only get rebucketed if all public records are removed from your reports. Everyone who has a score is lumped into buckets. For example, you are being compared to those who also have PRs on their report. If you have a CA, then you are compared to those who have a CA, and so on. As baddies drop, you are removed from one bucket and placed into another. The benefit to this is that if the economy sours, like now, your score isn't compared directly to the person who has an 830 FICO score. Instead, you'd be compared to someone who has a lower score also with the same baddies. In short, your score is dependent on others'.
4) You could gain a great deal of points by bringing util to 86% if all of your CCs (including CO CCs) are brought below 100% utilization.
5) You'll likely gain some points. The gain depends on how it is reporting, whether or not you have other CAs reporting, its age, and its relation compared to your overall history.
Message Edited by llecs on 03-20-2009 12:28 PM
