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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Subject: CHILD SUPPORT
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Mon Dec 07, 2009 1:36 am
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Did you know that child support or family obligations do NOT affect your credit scores..?
They DO show up on your credit report, but they DO NOT impact credit scores!
Just thought I'd pass along this FREE TIP!
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-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1240
28942 Magic Points
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Mon Dec 07, 2009 6:12 am
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Hi Doc,
I cannot with you on this Doc. Child support does affect our credit reports. If it is paid on time, then it is not reported to the credit bureau. But when you fail to pay for child support, it gets reported to the credit bureau and it also influences your score negatively. Your score might take a hit by 20-30 points in such a case.
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All the Best 
Justin |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Mon Dec 07, 2009 12:41 pm
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Justin... I don't post unless I KNOW I'm right... That's part of my responsibility as an EXPERT in this field...
From the horse's mouth, though, just so you know...
http://www.myfico.com/CreditEducation/WhatsNotInYourScore.aspx
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Wed Dec 09, 2009 3:02 am
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I do not think child support should really effect a persons score. Some people can not keep up with their payments due to illness or job loss and can get behind. I do not believe they should be penalized for instances such as this.
I did go to the link above and seen that child support is not reported. What I am wondering is what the creditor who pulls your report sees. Is it the same thing you see when you pull your own report? I have asked this question before and do no think it was answered. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Wed Dec 09, 2009 4:16 am
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It is reported... But it is not used in the score calculation.
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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simpletruth
Joined: 29 Sep 2009
simpletruth's page
Posts: 35
11 Magic Points
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Wed Dec 09, 2009 5:34 pm
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| I agree with fieryone, if you have a legitimate reason for getting behind on child support and you do pay under normal circumstances, it shouldn't effect or be reported on your credit score. People who suffer from an unexpected illness or job loss should not be penalized. And if it is not used in the calculation , why bother reporting it at all? I don't think this is an accurate prediction of whether this person is a bad risk or a good risk, and I'm sure the lenders who see this are being mislead. |
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blowry
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Subject: Child Support
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Wed Dec 16, 2009 6:58 pm
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| It's true I owe more than a few thousands in back support and it was reported and brought my score down real low |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Thu Dec 17, 2009 4:39 pm
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IT DOES NOT IMPACT SCORE.... I PROMISE...
Click the link above to hear it from MyFico... (They write the scoring formulas..!
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Thu Dec 17, 2009 8:12 pm
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| Blowry, Is there perhaps another reason that your score may have come down. I went to the site Doc above is speaking of and it does say child support does not effect your score. I am no expert, just going by what I read. I would ask that you pull your credit report and go over it to be sure that this is the reason. Everyone should be doing this regardless. People are given three free pulls, one from each reporting agency. I would advice everyone to look over theirs. |
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Adonica
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Subject: noCSTdeZfJvKzACYm
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Sun May 22, 2011 8:43 pm
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| YMMD with that anwser! TX |
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Guest
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Sat Aug 27, 2011 8:31 am
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| Well my credit score is pretty good. I have no payments besides my my car. I had a person going to buy my car so I applied for a loan for a truck that was the same price as my car. I got denied!! because my credit report shows I pay 900 dollors in child support a month, so i got denied because of debt to ratio!!!!! Ticks me off |
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Guest
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Sat Aug 27, 2011 9:48 am
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| I always pay my support and I believe you should support your child support. However it really hurts you as far as trying to get a loan. Like he says, debt to ratio. The goverment really screws over the guys or anyone paying child support in fact. I pay 1000 dollars in child support and I have the same problem getting any kind of loan do to my debt to ratio. How is it far that one child gets 350 a month while another child gets 1000 a month? My ex cheated on me, then divoced me and Im the one paying for it. It does not take 1000 a month to help raise a child. The system is broken and needs fixing in a bad way. On top of that 1000 a month, I also pay 250 for my childs medical insurance. So I pay 1250 a month!! |
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Guest
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Fri Nov 18, 2011 10:47 am
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| That crap you pay that much, you should hide your income |
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Guest
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Fri Nov 18, 2011 10:57 am
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| I have about $1400 in past owed child support and it knocks down my score at least -10 points. Dude at the top says it don't but I think thats only if you have no past balance! Even tho im set up thru the courts to pay monthly on the past due balance and have been on time every month, credit karma simulator shows -10 points. F child support think any women is putting that money away and saving it for the kid??? |
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Guest
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Fri Nov 18, 2011 7:02 pm
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The guest is mistaken... Click on the link above... It SPECIFICALLY mentions it...
-Doc |
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