^&(*(^&%!!!!! Credit Scores tanked on MYFICO.com

[CreditJunky 10]

I recently pulled my scores just to see the status of my investigation. Late pays were updated to Payed on time and my scores STILL tanked. Is it because I still have one account under investigation?

3/18/2005 3/25/2005

EQ 484 481

EX 540 486

TU 555 555

I am really pissed!!!! What happened?

[divemedic 51]

Scores will fluctuate. There is probably a TL that has some kind of negative remark that just updated.

[crofttk 10]

If that account still under investigation is very old but your other accounts are fairly new, that could how your score down a chunk because it's not in your average age of accounts factor.

[aints68 10]

Also, I just read a post that they have changed the scoring system. Read about that here:

http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=27808

[crofttk 10]

As far as I can tell, that's only affected EQ at this point and he only had a -3 there so I didn't figure that was relevant here.

Granted, being aware of that will help avoid further confusion in case something more changes on his EQ.

[aints68 10]

Gotcha. Any idea when the other two are changing?

[crofttk 10]

This is only hearsay for me at this point. Someone suggested one or two years.

[Guest jeeptravel]

Get www.mycreditkeeper.com. You can check you FAKO every day. There is no real way other than that to know when your scores will rise on FICO

[CreditJunky 10]

yep...there was one change....after disputing a 60 days late and a 30 days late on my GEMB/Banana Republic account they got rid of the 60 days late, and replaced the PAYS AS AGREED remark to "Account Closed/ Not Paying as Agreed". how can I get rid of this, as I am sure this is what caused the drop.

[Guest jeeptravel]

Send an "intent to sue" letter to the creditor for validating and invalid debt with a CRA.

And, I can't express this enough: YOU MUST BE WILLING TO FOLLOW THROUGH, otherwise, don't waste your time.

jt

[CreditJunky 10]

Jeep.....I will do this. What kind of fees am I looking at when following through with an intent to sue. I just want to know what I am looking at when doing this. I will send it if it is not too expensive. Is there anyother way to go about this? Also......how close are FAKO scores to what a real lender uses or FICO.

My FICO scores are still in the low 500's to high 400's. Yet my FAKO's are all high 500's like 590ish.

[Guest jeeptravel]

Suing is a drag, but we as consumers have to be willing to go the distance whatever it takes or they wil mop the floor with us every time. Sometimes just letting the creditor know you are willing to gets them to pay attention. Check with the FTC and the state's Attorney General's office for info on how to sue a creditor.

Yes, FAKO is different from FICO. The reason is because each uses a different weighted set of criteria to create your score. They are the same in that they use the same set of data (you credit report) to generate the score. For this reason, sometimes they are close and other times they are up to 100 points different. I am one who is of the opinion that FAKO and FICO are bound to be similar, but some people have good arguments that rebut that. FAKO is a good place to start and monitor your score. Buy a FICO though before applying for a major loan.

I hope that helps, good luck with your lawsuit.

[CreditJunky 10]

Damien.....you da man!!

Thanks!!!!