@Anonymous wrote:
You should shift from a recent PR scorecard to a mature PR scorecard at some point. I don’t know what the threshold is, if I had to guess I would say its probably at 2 years, but I really don’t know where that threshold is. Maybe it’s longer for public record scorecards, maybe it is four or five years? report back and let us know if you get a bump!
@RevelateMaybe knows?
So I think it varies by model.
FICO 04 and earlier I think the breakpoint for a BK (or tax lien) was around the 5 year mark for that possible change of scorecard; get cozy.
FICO 8 is a different story.
So I had an awkward test back in the day with EQ FICO 5 explicitly, an old tax lien and then a brand spanking new one was tacked on by the IRS: EQ FICO 5 moved literally -5 points IIRC, and my EQ FICO 8 score dropped near 50. When the new tax lien got nuked (as it was FIE - filed in error, namely after I'd already paid it via CC and funny story the IRS agent whined on the phone "why didn't you tell me?") the scores immediately rebounded identically so the time measurement is clearly different based on model but I don't have a breakpoint nailed down.
I can't really pin it down any better than that really, I know they're different but I don't know precisely what they are.
@Anonymous wrote:
Thank you @Revelate ! Hope you’ve been doing well bro! I try to avoid tagging you because I know you’ve been busy, but that’s one I just did not know and it may still be the same for version 8 and 9, considering the seriousness and that it stays on CR 10 years for a bankruptcy, but thank you very much for that data! And stay safe out there.
Thanks bud.
Today is really the first day I feel like myself and unfortunately I know I need to get some work done on my one remaining gig right now to not show up on a Monday report. The rest of my team is like 10% utilized and I'm sitting at 150% billable right now, and you want me to do this admin type crap boss? How about I keep doing my part for the 10Q =/. No matter how much you empathize with me that it's pointless and will never be used, you're still drawing a line and I don't get paid overtime. Meh.
I suspect F8/9 will be closer than either to F4 to be sure, a lot has changed in the last 15 years and some certainly for the better.
Just getting out of good habits unfortunately, and realizing I've been an idiot on some things. I haven't even logged into the Experian app in weeks, couldn't remember what the actual date or day was as it was irrelevant could only focus on things that were in front of me on the calendar for that day, good thing everything is on autopay, and then yesterday I went out cause Chick-Fil-A is basically comfort food for me right now and the freeway was shutdown so I got stuck finding an alternate route.
Wound up driving down Memorial and couldn't help but look to the right along the roadway and TREES EVERYWHERE, and people out walking, and was the most beautiful thing I've seen probably in half a year. Then when I looked up the trail maps it looks like I can go three blocks and then there's a trail between where I am, across downtown, to there, and I've made absolutely no use of it whatsoever.
Dumb dumb dumb, that's the sort of thing I need to start fixing things in my life and I've just been ignoring it. So today doing the admin stuff, and since there's nothing on the calendar tomorrow until like 3 pm (may actually start getting real work done again) I'm going to go exploring for an hour or two along the trails.
Got to take care of me is what it boils down to, and I forgot that somewhere in the past few months.
Thanks @kberly69 !
We had one individual post a 75X mortgage middle score with a tax lien so it's possible.
I don't think a BK is counted differently than how tax liens used to be handled. I do know though I could never break 700 on EQ FICO 5 with a tax lien on the report but I didn't have the 20 years of credit history the other individual did, in my case I went basically from 700 to 770 on that score as soon as it went off, I think the other individual may have gone straight to the perfect score on that model but I don't exaclty recall. I'm not at that level even now when I'm squeaky clean FWIW.
Regarding the mortgage BK question, there are restrictions on BKs depending what type of mortgage product you have so it's a default question they ask.