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Help me understand scoring?

Discussion in 'Credit Talk' started by mpbrowni, Jun 10, 2003.

  1. Jun 10, 2003 #1
    mpbrowni

    mpbrowni Well-Known Member

    On May 14...EQ FICO is 547.

    since then:

    3 judgements deleted today. (1999,2000,2001)

    11 inquiries deleted

    1 NCO collection account deleted

    1 MedClr collection account deleted.


    Fairly significant deletions, right? Especially the judgements...expected a large point bump when these were removed.

    New EQ Fico Score is 562.

    That's a measly 15 points for all those deletions. I understand that the purpose of credit repair is to remove negative listings, but how does one know that removing everything (clean report) will really boost your score a great deal?

    Very perplexed in GA.
     
  3. Jun 10, 2003 #2
    BrettS

    BrettS Well-Known Member

    If you still have some recent negatives (late payments or whatever) on your report they may be affecting your score more than the old negatives. Also, It's been said that when significant changes are made to your report it sometimes takes a month or so before the FICO number really goes up. People have speculated that there are different scoring models and moving from one model to another due to disputes doesn't happen immediately.

    HTH,
    Brett
     
  4. Jun 10, 2003 #3
    delilah131

    delilah131 Well-Known Member

    There's also a chance that with the deletions, you also lost some history, which FICO seems to favor.


    peace,
    delilah
     
  5. Jun 10, 2003 #4
    mpbrowni

    mpbrowni Well-Known Member

    Thanks for the info about scoring models. I wondered if the score change is immediate when an item is deleted. Seems very strange that 3 recent judgements would only pull up a FICO 15 points.

    BTW,

    I didn't lose any history...this was all bad STUFF...judgements and collections.

    Thanks again.
     
  6. Jun 12, 2003 #5
    lbrown59

    lbrown59 Well-Known Member

    1*but how does one know that removing everything (clean report) will really boost your score a great deal?

    2*Very perplexed in GA.

    =======================
    1*You can't out guess the shell game

    2*Ripoffs are perplexing

    THE END ** *** ** LB 59
    """""""""```~~~```'"""""""""
     
  7. Jun 12, 2003 #6
    Flyingifr

    Flyingifr Well-Known Member

    Count your blessings - at least your score went up.

    In November 2002 I got thirty (yes, 30) derogs removed from my EXP file - FICO went DOWN 20 points.

    In February a CA posted onto my EXP file, lost 40 points in 1 day. Got it removed in March, only got 16 of those points back, and absolutely NOTHING else changed.

    FICO=3 Card Monte, but you have better odds at 3 card Monte
     

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