But...is a Podiatrist actually considered "medical"?
Posted on 06/02/2022 7:43:08 AM PDT by millenial4freedom
Yes, credit scores have been watered down mostly based on data reporting changes.
1. Medical collections under $500 no longer reported
2. Pay to delete - previously credit bureau rules did not allow a creditor to delete accurate information. Once an item was paid, it was marked paid but still reported up to 7 years from last delinquency. The bureaus stopped enforcing the accurate info rule and collection agencies and some original creditors negotiated with borrowers to pay (or settle and account for less than what was owed) and the item would be deleted completely. This skews the score because if you were late or settled for less than owed future creditors won’t know.
3. Judgements no longer appear on credit reports or calculated into credit score. So if a creditor had to sue you and won in court, that no longer gets taken into account.
4. Credit bureau programs like Experian Boost. Allows people to sign up for a service (I believe a paid service) where the bureau takes into account cable, cell, electric utility even streaming service payments into credit score. So if you pay Netflix on time it increases your score.
If I were making credit policy, I would require a higher score (or higher interest rates) to offset the additional risk.
with the new changes that paid 12 dollar collection should vanish as it’s under the 500 dollar limit.
that said, if it’s old (couple of years) dispute it as “should not be on my report”
Collection companies “generally” don’t do much research on paid collections. No one will go down in the basement and look in a box for the records and it’ll likely vanish.
Your post explains why so many people absolutely need the government to be their mother and father.
score has nothing to do with what lenders like to see.
would you loan me 500 a month if interest started on day 31 and I paid you back on day 30?
Probably not for long. you would not be making any money.
(except the small taste they get when you use the card. but that is a penny or 2 on the dollar)
So, I guess we have to go into debt to be worthy of going into debt.
There are also industry specific credit scores. For example an auto enhanced score that is supposed to better predict whether you will pay your car loan. The 355 person had several repos I think the original poster stated so that would do it on an auto specific report.
The bigger thing to be concerned with is coming decline in housing prices.
yup. 2008 all over again. caused by the same thing. Government.
The only thing that is different this time around is inflation is a player in the higher values.
they will drop, but maybe not as much as 08.
people did the same thing this go around, borrowed against the new higher values.. They will likely do the same thing again and sell short or walk away when the SHTF.
just like needing experience to get your first job.
Yes!
“None. Well maybe some interest income, but at 0.005% it aint much.”
I am sure there is more to your story but won’t pry!
“Yeah, that doesn’t make sense to me. People who simply don’t need or use credit are forced to take some on just to be in the game in case they might need a score in the future.”
It’s makes perfect sense to bankers. They rigged the game so you have to take on debt to build a score, and that means paying them interest. But there are ways to beat them. Get a credit card, charge everything on it and then pay it off each month. No interest. And you could be accruing things like airline miles, great for flying out to the relatives for free. Don’t get mad, get even.
But...is a Podiatrist actually considered "medical"?
That’s what we do :-)
FICO range is 300 to 850 and Vantage 3.0 ranges from 501 to 990, so I wouldn’t necessarily assume that your FICO being lower than Vantange 3.0 score is a bad thing.
It makes no sense because it’s not true. Bigly tends to believe everything she thinks.
Guy needs a car and a job.
I agree that we are being groomed, not only to behave "correctly," but also to be de-sensitized to the reality of having no privacy.
Too bad. I'm still going to continue paying off every card in full every month, credit score be damned.
So what’s not true?
P.S. Next time don’t be a gutless little coward and talk behind my back.
Which part isn’t true? When I was younger and hadn’t used credit - didn’t want or need it - I wanted to buy something big; had the down payment and the income, but nobody would talk to me.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.