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Score Factors

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KellyP25721
Frequent Contributor

Score Factors

When I look at the score factors that myFico reports, one of the items is "The remaining balance on your non-mortgage installment loans is too high."  It looks like it's factoring in a past due amount reported on a charge off, which I just paid off.  I know that paid charge off counts the same as an unpaid charge-off, but will paying the past due amoutn off help regarding the balances on installment loans?

Starting Score: 573 (EX Faco) | Current Scores: EX(Fico) 674, EQ(Fico) 668, TU(Fico) 691
Message 1 of 3
2 REPLIES 2
AndySoCal
Senior Contributor

Re: Score Factors

The link below is a guide to the FICO score reasons

 

http://www.scoreinfo.org/FICO-Scores/Pages/Score-Factors.aspx

 

Hope this helps

 

 

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Message 2 of 3
KellyP25721
Frequent Contributor

Re: Score Factors

Thanks!

Starting Score: 573 (EX Faco) | Current Scores: EX(Fico) 674, EQ(Fico) 668, TU(Fico) 691
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