Comments on: Analyzing myFICO reports 101 http://creditfactors.com/2008/09/analyzing-myfico-reports-101/ FICO credit scores - settling debts - dealing with collectors ... Tue, 03 Apr 2012 15:38:41 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Christine http://creditfactors.com/2008/09/analyzing-myfico-reports-101/comment-page-1/#comment-4521 Christine Thu, 07 Oct 2010 04:26:41 +0000 http://creditfactors.com/?p=240#comment-4521 To a certain extent, yes. Sometimes it's a no brainer -- such as when a score factor states that an account was last delinquent 1 month ago. You look for the account that's "considered" late one month ago -- either because the account is report as late, because Trans Union reports an old charge-off without the date CLOSED and it was last reported a month ago or because an old charge-off is reported on Equifax and therefore rated as late the last time it was reported (a bug in the FICO scoring formula). It's easy to determine which accounts cause certain score factors with just a few derogatory accounts, but if there are many derogatory accounts it can get difficult or impossible to PROVE which accounts are causing a certain score factor to appear. To a certain extent, yes. Sometimes it’s a no brainer — such as when a score factor states that an account was last delinquent 1 month ago. You look for the account that’s “considered” late one month ago — either because the account is report as late, because Trans Union reports an old charge-off without the date CLOSED and it was last reported a month ago or because an old charge-off is reported on Equifax and therefore rated as late the last time it was reported (a bug in the FICO scoring formula).

It’s easy to determine which accounts cause certain score factors with just a few derogatory accounts, but if there are many derogatory accounts it can get difficult or impossible to PROVE which accounts are causing a certain score factor to appear.

]]> By: jason http://creditfactors.com/2008/09/analyzing-myfico-reports-101/comment-page-1/#comment-4520 jason Wed, 06 Oct 2010 23:50:34 +0000 http://creditfactors.com/?p=240#comment-4520 Do you feel that myfico is accurate in telling which accounts are causing negative factors? Do you feel that myfico is accurate in telling which accounts are causing negative factors?

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