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I wonder what score-reducing "glitch" they replaced it withIn the latest versions of the FICO formula, score creator Fair Isaac Corp. fixed a glitch that often penalized folks for paying old debts that had been charged off and sent to collection agencies. (See "When paying old bills can hurt your credit.")
I believe so.
mattwarner wrote:From the article:---Settling debtsIn the latest versions of the FICO formula, score creator Fair Isaac Corp. fixed a glitch that often penalized folks for paying old debts that had been charged off and sent to collection agencies. (See "When paying old bills can hurt your credit.")---Really?
I am trying to confirm this. Stay tuned...
mattwarner wrote:Do I correctly understand this to mean that paying a collection agency will not hurt my score because of the recent activity?
mattwarner wrote:Do I correctly understand this to mean that paying a collection agency will not hurt my score because of the recent activity?