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danni_dee
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Hi everyone! :)++

I have been lurking for a couple of weeks and have been reading so much information! I have all this new info and knowledge swimming around my brain cells, sure hope it all settles soon to all make sense! LOL :lol:

I have pulled my 3 free credit reports, and have several credit card CO, some showing to drop later this year (aug and oct), some obviously seems to be with CAs. 2 good standing/open accounts is 1 yr ago I financed a new car with toyota (yes, have a very high interest rate), and have maintained good payments and also a student loan in good standing. (graduated may 06 and now working as a nurse), so while in school fulltime wasn't able to keep up my credit cards and as you know the rest is history...and is why I am here now.

I apologize if these questions have been asked before, but in all my browsing around on the site, haven't found my answers.

Question 1:

What is the difference between a fico and fako score? does one carry more weight than the other?

Question 2:

ok, so when you see an estimated date for removal, what does that actually mean? I mean, will it disappear forever, or will a CA come in and re-age it? :confused:

I went ahead and got two of my scores, from EX (vantagescore) is 677, and TU is 669...(one time payment), on the EQ site I could only find them offering your score if you signed up for monthly cost (not yet willing to do that).

ok, so this is my first hello, HI... havent yet done anything (but continually take a deep breath as advised! :lol: so look forward to your help on my journey as I know I will have more questions as time goes by.

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I apologize if these questions have been asked before, but in all my browsing around on the site, haven't found my answers.

Question 1:

What is the difference between a fico and fako score? does one carry more weight than the other?

Use the advanced search function, then check the boxes for the forum that deals with credit reports and scores. that should pull up enough posts to answer all your questions. you can also change the settings in the adavance search screen so that it only searches for your word in the message header which will narrow down the results

Question 2:

ok, so when you see an estimated date for removal, what does that actually mean? I mean, will it disappear forever, or will a CA come in and re-age it? :confused:

They will try to reage but that is a violation. Date for removal is when it will delete itself from your report without you having to do anything. If the CO's are nearly their fall off date, it's best not to DV them and just let them fall off, especially for small accounts under $1000.

I went ahead and got two of my scores, from EX (vantagescore) is 677, and TU is 669...(one time payment), on the EQ site I could only find them offering your score if you signed up for monthly cost (not yet willing to do that).

ok, so this is my first hello, HI... havent yet done anything (but continually take a deep breath as advised! :lol: so look forward to your help on my journey as I know I will have more questions as time goes by.

Good Luck and Welcome!

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Hi everyone! :)++

I have been lurking for a couple of weeks and have been reading so much information! I have all this new info and knowledge swimming around my brain cells, sure hope it all settles soon to all make sense! LOL :lol:

I have pulled my 3 free credit reports, and have several credit card CO, some showing to drop later this year (aug and oct), some obviously seems to be with CAs. 2 good standing/open accounts is 1 yr ago I financed a new car with toyota (yes, have a very high interest rate), and have maintained good payments and also a student loan in good standing. (graduated may 06 and now working as a nurse), so while in school fulltime wasn't able to keep up my credit cards and as you know the rest is history...and is why I am here now.

I apologize if these questions have been asked before, but in all my browsing around on the site, haven't found my answers.

Question 1:

What is the difference between a fico and fako score? does one carry more weight than the other?

Question 2:

ok, so when you see an estimated date for removal, what does that actually mean? I mean, will it disappear forever, or will a CA come in and re-age it? :confused:

I went ahead and got two of my scores, from EX (vantagescore) is 677, and TU is 669...(one time payment), on the EQ site I could only find them offering your score if you signed up for monthly cost (not yet willing to do that).

ok, so this is my first hello, HI... havent yet done anything (but continually take a deep breath as advised! :lol: so look forward to your help on my journey as I know I will have more questions as time goes by.

Hello fellow Texan! Welcome to the machine. I woul start with reading the stickies at the begiining of the Credit Repair and Collection sections as well as checking out the links at the top of the page. Also, familarize yourself with the FDCPA, FCRA and Texas Finance Code 392 ( http://tlo2.tlc.state.tx.us/statutes/docs/FI/content/htm/fi.005.00.000392.00.htm ). Here's a couple answers for you:

1.FICO Vs. FAKO - FICO scores come only from www.myFICO.com (Fair Isaaks). FAKO's are anything other than FICO's - True Credit, PM123 etc

2. Date for removal of derogatory TL's should be 7-7.5 years from DOFD (Date of First Default) once that time period has lapsed, the TL should disappear but there are certain circumstances that can keep it there longer. More on that later after you've read, read and read some more.

Looks like your scores are pretty good for starters. Once you have a chance to read up and determine what your issues are then start posting your questions and we will do everything we can to help.

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Welcome!!!! If the outcome wasn't so good I would say turn back while you still can, because this is addicting!!

Difference between FAKO and FICO is fairly significant. The FICO is your "actual" credit score using the formula by Fair-Isaac. FAKO is the CRA's way of estimating your FICO. Come places use the Fako in their decision but most use the FICO.

Accounts aren't suppose to be reaged. Sometimes they will be, but that is a violation. The estimated date of removal is the estimated date that the TL will stop showing up on your CR. Its related to the DOFD with the OC.

Hope this helps and welcome!

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