@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@House2021 no one is going to like this, but yes, some *defaulted* SLs can be included into the "revolving and open-ended" balances, but has never been included into the util %.
Both me and my SO had defaulted SLs, where the CAs were considered "open ended" and calculated into the total balance. I have made several posts on this with evidence, so it is absolutely possible. Perhaps because they are marked "single payment loan" (maybe considered like a charge card?) and/or "1 month" repayment term.
These were the collections accounts for the original defaulted loans (the OCs were at $0 and the collections showed the balance) and were only ones usually listed under "other" instead of "installment" or "revolving" credit categories. This was only for EQ and TU. These balances were never included in EX calculations, at least not that I could see.
I got several secured card denials for being "sufficiently indebted" and "sufficient credit obligations".
Once the accounts were removed after rehab, the balance went down on "revolving and open-ended accounts", util % still remained the same (since that was never impacted) and then when doing the SP preapprovals, I was now approved and the "sufficiently indebted" and "sufficient credit obligations" reason went away.
Just mine and my SO's experience with this...
@Anonymous I think this may be the metric that includes everything except for mortgage loans. I also think the CA may have been considered other?
Thing is, SLs in positive standing, those balances are not included. The Self Lender loan was never included, either. And 1 out of the 3 sets of CAs for the defaulted SLs, were not included.
@Anonymous that is insane. The only thing I can wonder is if the numerical representations accurately depict what the algorithm is actually doing though.
Those numbers displayed may not be what the algorithm is actually working with or using. They could be additional ways of looking at debt that they've put together for our viewing pleasure. idk. Hard to figure out.
