It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
FICO just released the newest edition of its general credit scoring model, FICO Score 9. The big changes come in the area of debt collection: The score will not include paid collection accounts, and it differentiates medical collection accounts from non-medical debt.
These are significant changes for a few reasons: First, medical debt is often beyond the consumer’s control, because unlike an unpaid rent check or utility bill, the consumer may have no way of anticipating healthcare needs or medical bills and, as a result, may not accurately reflect a consumer’s typical payment practices.
originally posted by: xuenchen
Well this might allow people to get deeper into debt.
New debts always help with the inflationary bank ledgers.
Also sounds like they are anticipating bigger medical debt piling up from big new insurance company deductibles.
Kredit
..Karma
....Free
originally posted by: lostbook
FICO just released the newest edition of its general credit scoring model, FICO Score 9. The big changes come in the area of debt collection: The score will not include paid collection accounts, and it differentiates medical collection accounts from non-medical debt.
These are significant changes for a few reasons: First, medical debt is often beyond the consumer’s control, because unlike an unpaid rent check or utility bill, the consumer may have no way of anticipating healthcare needs or medical bills and, as a result, may not accurately reflect a consumer’s typical payment practices.
New System for Fico Credit Scores
I think this is a move in the right direction toward fixing this country's credit woes by separating Medical debt from traditional debt. Certain systems, or ways of doing things are outdated and need over-hauling. I think Social Security should be next. Not to get off topic, what does ATS think about this development for the well being for the US? I'm not a financial person so there's not much for me to add as far as my input goes but that I think it's a good idea. I'm also glad to see that positive action is being taken to move the country forward. Will updating how FICO scores are made affect the US positively? I don't know. What says ATS?
originally posted by: NthOther
Everybody has screwed up credit now, so they have to lower the standards of the score to qualify more people for loans.
It's like teachers dumbing down their tests so that more students will pass, making them look good for their bosses.
originally posted by: Answer
originally posted by: lostbook
FICO just released the newest edition of its general credit scoring model, FICO Score 9. The big changes come in the area of debt collection: The score will not include paid collection accounts, and it differentiates medical collection accounts from non-medical debt.
These are significant changes for a few reasons: First, medical debt is often beyond the consumer’s control, because unlike an unpaid rent check or utility bill, the consumer may have no way of anticipating healthcare needs or medical bills and, as a result, may not accurately reflect a consumer’s typical payment practices.
New System for Fico Credit Scores
I think this is a move in the right direction toward fixing this country's credit woes by separating Medical debt from traditional debt. Certain systems, or ways of doing things are outdated and need over-hauling. I think Social Security should be next. Not to get off topic, what does ATS think about this development for the well being for the US? I'm not a financial person so there's not much for me to add as far as my input goes but that I think it's a good idea. I'm also glad to see that positive action is being taken to move the country forward. Will updating how FICO scores are made affect the US positively? I don't know. What says ATS?
This will be a great thing for putting people deeper into debt. Anyone whose credit score prevents them from adding more debt will only dig the whole deeper once their score is raised.
I've worked in finance... it's sad.
The whole credit system is a giant scam and I want no part of it.
originally posted by: lostbook
originally posted by: Answer
originally posted by: lostbook
FICO just released the newest edition of its general credit scoring model, FICO Score 9. The big changes come in the area of debt collection: The score will not include paid collection accounts, and it differentiates medical collection accounts from non-medical debt.
These are significant changes for a few reasons: First, medical debt is often beyond the consumer’s control, because unlike an unpaid rent check or utility bill, the consumer may have no way of anticipating healthcare needs or medical bills and, as a result, may not accurately reflect a consumer’s typical payment practices.
New System for Fico Credit Scores
I think this is a move in the right direction toward fixing this country's credit woes by separating Medical debt from traditional debt. Certain systems, or ways of doing things are outdated and need over-hauling. I think Social Security should be next. Not to get off topic, what does ATS think about this development for the well being for the US? I'm not a financial person so there's not much for me to add as far as my input goes but that I think it's a good idea. I'm also glad to see that positive action is being taken to move the country forward. Will updating how FICO scores are made affect the US positively? I don't know. What says ATS?
This will be a great thing for putting people deeper into debt. Anyone whose credit score prevents them from adding more debt will only dig the whole deeper once their score is raised.
I've worked in finance... it's sad.
The whole credit system is a giant scam and I want no part of it.
This would be a cool thread for ATS if you were to do it.
originally posted by: Thisbseth
Well, as someone who has about 10,000 dollars in debt can someone here tell me any legit ways of fixing my credit score? since were on the issue...
originally posted by: Answer
originally posted by: lostbook
originally posted by: Answer
originally posted by: lostbook
FICO just released the newest edition of its general credit scoring model, FICO Score 9. The big changes come in the area of debt collection: The score will not include paid collection accounts, and it differentiates medical collection accounts from non-medical debt.
These are significant changes for a few reasons: First, medical debt is often beyond the consumer’s control, because unlike an unpaid rent check or utility bill, the consumer may have no way of anticipating healthcare needs or medical bills and, as a result, may not accurately reflect a consumer’s typical payment practices.
New System for Fico Credit Scores
I think this is a move in the right direction toward fixing this country's credit woes by separating Medical debt from traditional debt. Certain systems, or ways of doing things are outdated and need over-hauling. I think Social Security should be next. Not to get off topic, what does ATS think about this development for the well being for the US? I'm not a financial person so there's not much for me to add as far as my input goes but that I think it's a good idea. I'm also glad to see that positive action is being taken to move the country forward. Will updating how FICO scores are made affect the US positively? I don't know. What says ATS?
This will be a great thing for putting people deeper into debt. Anyone whose credit score prevents them from adding more debt will only dig the whole deeper once their score is raised.
I've worked in finance... it's sad.
The whole credit system is a giant scam and I want no part of it.
This would be a cool thread for ATS if you were to do it.
Que?
originally posted by: Thisbseth
Well, as someone who has about 10,000 dollars in debt can someone here tell me any legit ways of fixing my credit score? since were on the issue...