Tag Archives: fico
- What You Need to Know About Your FICO Score
If you have ever heard someone refer to your “score” or your “credit score” they are probably referring to your “FICO Score.” It is called a FICO Score as the way the number is calculated is based on software developed by a company called Fair Issac and Company. Once you have requested a loan, a [...]
- Would Talking With Money Management International Ruin My Credit? – Shan
“Dear Damon, I have $30,000 in debt due to my college tuition. Most of it is in Citi bank. My interest rates are really high. Starting from 13% to 29%. I am paying around $1000 towards minimum payments. Due to that I am living pay check to pay check. I am worried that I will [...]
- Just Thinking About Strategically Defaulting on Your Mortgage? FICO Says They Know Who You Are
FICO recently released a study that claims they can pinpoint those who are prime candidates for strategically defaulting on their mortgage. Strategic defaulters can be defined as those able to make their mortgage payments but unwilling to do, often because their mortgage is worth more than their property value. Researchers at FICO have determined an [...]
- I Want to Use a Home Equity Loan to Get Out of Debt. – Sandy
Sandy wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
- A Quarter of People Have a Credit Score Below 599
It’s no surprise that people struggling to makes ends meet would wind up with a bad credit score after maybe maxing out their cards, missing a payment or landing in collections. The Associated Press is reporting that FICO has stated that the credit scores for more and more people are sinking to new lows. The [...]
- Credit Scoring: How it Works and How You Can Improve Your Score
What Is Credit Scoring? If you have tried to get credit, a loan or a mortgage, you may have had your credit information graded for risk potential. This is called “credit scoring” or “risk scoring.” Credit scoring is one factor that lenders or creditors consider to determine if they should give you a loan, a [...]
- Debt Settlement Companies Draw Wrong Conclusion About Recent FICO Score Facts
In a press release by Morgan Drexen (Morgan Drexen Warns Consumers: If You Choose Bankruptcy You Could Face a Devastating 240 Point Decline in Your FICO Score) the debt settlement company draws the conclusion and states “Perhaps the difference between debt settlement and bankruptcy, when it comes to FICO scoring, is simply this: through debt [...]
- What if I Just Stop Paying My Credit Cards in Texas. – Steve
Steve wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
- Sally is Divorced and Ex-Husband Has Stopped Paying Mortgages
Sally wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]