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Credit Score - You Need To Know!!!

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  • #16
    Good article, with a nice overview of credit scoring.

    There are 2 other things I think should be noted:

    1. While you can get a free report from each bureau per year, that does NOT include a free FICO score.

    2. FICO is the most commonly used scoring method. They are not the only one. If you see a free credit score, or even a cheap one, advertised-if it doesn't say FICO then its not a FICO score. Think of it like a guy selling nice looking artwork from his van. They may look nice, but they're not the real thing. Don't be fooled into thinking they are. (In other words, odds are that the 'score' you're getting, if you're not getting FICO, uses its own method to come up with your credit score and it probably isn't used by any creditor. It won't serve any purpose, really.)
    Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

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    • #17
      I don't know if this will help anyone.

      Here is a link for ONLINE CREDIT REPORTING:

      http://www.onlinecreditreporting.com/

      You can get all 3 reports in one for $34.95. My lawyer had me run mine through them.
      My credit scores:
      Before Filing: Tr 496, Ex 496, Eq 507

      Today: Tr 618 (+122), Ex 601 (+105), Eq 623 (+116)

      Comment


      • #18
        You can get your reports once per year (Free) from annualcreditreport.com, and if you've been denied credit/insurance/etc. based on a credit pull you can get a free copy after that as well.
        Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

        Comment


        • #19
          i'd rather order 1 by 1 from the cr themselves. Cuz you can dispute items right there on their website - which is very handy.

          r
          Filed: 05/04/06 (los angeles)
          341: 06/05/06
          Discharged: 8/29/06
          Closed: 9/08/06

          Comment


          • #20
            Originally posted by razorguns View Post
            i'd rather order 1 by 1 from the cr themselves. Cuz you can dispute items right there on their website - which is very handy.

            r
            Razorguns, this is a six-month-old thread. The forum rules specifically state:

            "All BF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so." [ http://www.bankruptcyforum.com/showthread.php?t=5508 ]

            Your comment above could easily have been added to several current threads in the Rebuilding Credit forum area or you could have started a new thread yourself to discuss best practices around credit reports. In the future, please look for appropriate current threads first before pulling up ("bumping") an old one like this - thanks!
            I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

            06/01/06 - Filed Ch 13
            06/28/06 - 341 Meeting
            07/18/06 - Confirmation Hearing - not confirmed, 3 objections
            10/05/06 - Hearing to resolve 2 trustee objections
            01/24/07 - Judge dismisses mortgage company objection
            09/27/07 - Confirmed at last!
            06/10/11 - Trustee confirms all payments made
            08/10/11 - DISCHARGED !

            10/02/11 - CASE CLOSED
            Countdown: 60 months paid, 0 months to go

            Comment


            • #21
              My BK closed March 16th. There has been no change on my credit report. I disputed and sent my discharge papers to all 3 CB's. It looks like 2 accounts were sold just as I filed. Most of mine was medical and I included the hospital, collection agencies, etc in my bankruptcy.
              wondering if any new collection agencies can come after me for the debt if their name wasn't on the petition. Seems tha if the debt was discharged it would be gone regardless of who purchased it.
              Filed Chapter 7 Prose 11/27/2006
              Discharged 3/12/07 & closed 3/16/2007
              Credit scores: EX 544 EQ 585 TU 565 on 4/15/2007
              EX602 EQ569 TU565 on 5/01/07

              Comment


              • #22
                Originally posted by tinroofrusted View Post
                It just disgusts and amazes me that there are no standards on the different bureaus HUGE discrepancies in scores. *shaking my head* perhaps that will come some day.
                Watch the documentary "Maxed Out" It's worse than you think with those guys
                Thanks,

                Chris

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                • #23
                  Yes! You are doing great! Rebuilding youir credit score is very important in this country. As an adult everything you do financially revolves around credit. I too am in the middle of rebuilding my credit and actully found a lot of advice and guidance right here online. Participating in forums and browsing the web for help. Check this site out it provided me with credible and accurate infomration on credit scores, credit reports and alternatives on how to seek financial help.

                  The internet and the information on it is a true beauty!
                  Last edited by Minnymouth; 08-09-2007, 01:29 PM. Reason: advertising payday loans

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                  • #24
                    Credit scoring

                    deleted cause old thread
                    Filed Chapter 13: Aug 2004 Confirmed Aug 2005
                    Early Buy-Out 43/60 months: April 2008 :clapping:
                    Status: Case Closed Completed May 6-2008 :D
                    Discharged: June 2008 :D:yes2::D

                    Comment


                    • #25
                      Originally posted by gamblingman View Post
                      Go to their website and you can do it directly in their data base ! I had corrected and cleaned up all of my errors and got them to update and correct how several companies were reporting after my BK 7. It took all of about an hour to do it on line. ( I had 48 companies reporting and 22 had to be disputed and corrected, everything was corrected within 72 hours ! ) I love the internet !!!!!

                      Best Regards
                      This information is not accurate.
                      Experian requires that you WRITE them to dispute personal info like addresses now. You cannot do it online.

                      You CAN dispute charge-offs and balances owed after bankruptcy online, though.
                      <<I am NOT an attorney, my comments are anecdotal only. Contact an attorney for advice>>
                      FINALLY DISCHARGED 92 DAYS AFTER THE 341! A NEW START!!!

                      Comment


                      • #26
                        Thats some news

                        Thats some quite a information there.But, if some of you have thought about the credit reports, what about credit management. This can be done with the help of credit management companies and when this all comes into our mind,then there is opportunity to start your own credit repair business and earn like the biggies do.:

                        Comment


                        • #27
                          Originally posted by tinroofrusted View Post
                          Experian is the worst one to deal with for addresses. They have three on mine of places that I have never lived, and in states I have never set foot in. They claim that someone who pulled my credit at one time or another put that in as my mailing address, and that it must stay.

                          I told them that unless they could prove and verify it, that they were to remove it, or I was going to sue them under the FCRA for false information my credit report.

                          I am still waiting to hear back from them....
                          I do hope you hear back from them, and you are right, if they can't verify it they do have to remove it. Maybe sending a certified letter would help.

                          One thing that I wanted to mention is that having addresses that aren't yours listed on your credit report can be a sign of identity theft. The problem is, that if enough of those inconsistencies happen, the stupid bureaus set the thieves up with their own account and records - which could still come back on you.

                          It might be something you would want to investigate a little further.
                          My name is Jenna Banks. I'm a full time writer who's been through bankruptcy.

                          I love answering questions! I write about my bankruptcy experience, and how I repaired my own credit, every Monday and Wednesday on my blog.

                          Comment


                          • #28
                            Originally posted by mlpntr View Post
                            My BK closed March 16th. There has been no change on my credit report. I disputed and sent my discharge papers to all 3 CB's. It looks like 2 accounts were sold just as I filed. Most of mine was medical and I included the hospital, collection agencies, etc in my bankruptcy.
                            wondering if any new collection agencies can come after me for the debt if their name wasn't on the petition. Seems tha if the debt was discharged it would be gone regardless of who purchased it.
                            Once your bk has been discharged, all you have to do if someone does come after you is give them your case number, and discharge information. I had this happen exactly, and they left me alone after I gave them the info.
                            My name is Jenna Banks. I'm a full time writer who's been through bankruptcy.

                            I love answering questions! I write about my bankruptcy experience, and how I repaired my own credit, every Monday and Wednesday on my blog.

                            Comment


                            • #29
                              I am sending letters to DC asking that in lieu of so many people losing the battle of the FICO score in our horrible economy to have them implement some very needed changes. to the credit reporting regs. 1. that an employer cannot pull your record, only criminal. you should be hired on capacity, 2.that insurance co's also charge you on driving habits not bill paying ( so obsurd) 3. that the reporting time be linked to the statue of limitations for bill collecting in your state ( fla is 5 yrs.) and if BK is considered a "forgivenses of debt" let the CB agencies forgive me too and not hold that noose around my neck for next the 10 yrs.

                              Comment


                              • #30
                                2 weeks post discharge and my hubbys score is 647 and mine is 641! I can hardly believe it. We had scores in the mid 700s prior to filing but were late for 6 mos on everything including our mortgage before we filed. Really surprising that our scores would be that high!

                                Comment

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