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Question on Simulator

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Super Contributor

Question on Simulator

How relaible is simulator. It says I'll gain about 40-50 points if pay off all my outstanding 113K debt in 6 months. How realistic is it ? I am planning on making settlements and hopefully get COs/CAs out of my life. About 113K in CO and 22k in CAs. If I am able to do that how much score gain can I see. Right now I am mid 500s. Hoping to get into 600 club soon. It is realistic to reach that goal in 6 months ?

As of 1/5/2020 - EQ 576 / TU 600 / EX 566
As of 2/15/2020 - EQ 601 / TU 622 / EX 586
3 REPLIES 3
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Frequent Contributor

Re: Question on Simulator


@concorduser wrote:

How relaible is simulator. It says I'll gain about 40-50 points if pay off all my outstanding 113K debt in 6 months. How realistic is it ? I am planning on making settlements and hopefully get COs/CAs out of my life. About 113K in CO and 22k in CAs. If I am able to do that how much score gain can I see. Right now I am mid 500s. Hoping to get into 600 club soon. It is realistic to reach that goal in 6 months ?


The simulator is just as it states in the name - a simulator. Its possible to gain that many points since the balance will be reported $0 and the utilization would be brought down, but its also hard to say since there could be other factors that come into play but as the paid CO/CA age, your score will approve and any existing positive payment history reporting will help as well. Removal of a CA or CO would also help your score. I would suggest worrying about everything paid or settled so they can be knocked out then once everything is taken care of, the rest will just be done in time.

Message 2 of 4
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Senior Contributor

Re: Question on Simulator

I would take the simulator scores with a grain of salt. Obviously paying down debt would improve your score, but how much just depends on way too many factors that the simulator doesn't take into account (Utilization changes, AAoA changes, new accounts, derogs being updated to zero, payment history being added, etc).
Currently rebuilding as of 04/11/2019.

Starting Scores:
EX 518
EQ 518
TU 521

Current FICO scores:
EX 605
EQ 571
TU 614
Message 3 of 4
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Senior Contributor

Re: Question on Simulator

Simulators are not very reliable, but a CO maxes your util, so I would not doubt a significant increase. Removing the COs/CAs would give a real nice increase. Hopefully you have some PFDs going on.













(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated March 2020.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
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