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HomeCredit ForumImprove your credit score

How much will a judgment lower my credit score ?

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goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Mon Oct 13, 2008 1:58 am  
oh I know believe me, four years have past already, just a few more to go. Just have to wait and deal with it.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
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Posts: 3242



1180 Magic Points
 
 Posted on Tue Oct 14, 2008 9:47 pm  
Thats just about right. Nothing you can do but work on building better credit until then.
 
creditpro



Joined: 16 Oct 2008
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Posts: 21
Location: San Diego, CA


1195 Magic Points
Subject: Your credit score
 
 Posted on Thu Oct 16, 2008 3:29 am  
No one can determine exactly how much your credit score will drop because no two credit profiles are alike. Plus the credit scoring module is a very complex system and if someone where to figure this system out then everybody would have perfect credit scores. There is scientists behind the scoring module.

But no doubt you will get hit hard aon your credit scores but as time goes by and if you apply strong credit management skills, your credit scores will eventually begin to increase. I have a friend who has a BK that was filed 8 months ago and now has a 679 fico and sitll going up. There is a lot of strategies, tactics and techniques you may apply to get your scores back up after that big hit. I recommend www.AttractiveCreditSecrets.com
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Mon Nov 03, 2008 4:24 pm  
Would it not be great if we did know the magic formula?? I agree, each individual and each situation is different.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
Guest







 
 Posted on Tue Nov 04, 2008 8:37 am  
FICO has its own credit scoring algorithm based on which it determines your credit score. This credit scoring depends on your credit history, the amounts owed, length of the credit history, new credit lines and types of credit used. However, exactly how much points is dedicated to each of them is not know perfectly. What is known to us is the weightage that FICO puts on these factors. For example, credit history or the repayment history which contributes 35% in your credit score has the maximum influence on the credit score.
 
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 534



13649 Magic Points
 
 Posted on Tue Nov 04, 2008 8:38 am  
FICO has its own credit scoring algorithm based on which it determines your credit score. This credit scoring depends on your credit history, the amounts owed, length of the credit history, new credit lines and types of credit used. However, exactly how much points is dedicated to each of them is not know perfectly. What is known to us is the weightage that FICO puts on these factors. For example, credit history or the repayment history which contributes 35% in your credit score has the maximum influence on the credit score.
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Best Wishes
Justin
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3242



1180 Magic Points
 
 Posted on Wed Nov 05, 2008 12:19 am  
So there really ia a magic forumla?
 
goodnatured



Joined: 03 Nov 2007
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Posts: 3235



2257 Magic Points
 
 Posted on Sat Nov 08, 2008 1:09 pm  
yeah, we just don't know it.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3242



1180 Magic Points
 
 Posted on Tue Nov 18, 2008 11:31 pm  
Hmmm. wonder if we could finger it out? I really think there isn't to be honest. It really has to boil down to how faithful you are to keeping your credit in good shape. They give you a clean slate every 7 years. I know that seems like a really long time but think of how many time periods that actually is through out a lifetime and if ya can't get it straight at least a few of those times then I guess the person wouldn't really deserve credit. What are your thoughts on this?
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Sun Nov 23, 2008 6:29 am  
Probably true, long seven year wait, sure wish it was a shorter time period, especially if you have paid off your debt off and they are stilll lingering on your report well after the fact.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3242



1180 Magic Points
 
 Posted on Sun Nov 23, 2008 2:57 pm  
That would be a really good idea. Say if you paid the debt off they could leave the listing on for two years and if you didn't they could leave it on for a little longer period. Imagine how many people we have posted wiht on this forum who is willing to pay their debt but doesn't becasue it is past SOL and wouldn't do them much good for their credit score anyway.
 
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