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In reply to the discussion: What you may not have known about Credit Checks and Credit Ratings. MUST KNOW AND SCREAM ABOUT [View all]Stargazer09
(2,132 posts)80. A judgement against him, perhaps?
I know that some states will divide the debts between the spouses, and a judgement against the person with the higher income may be ordered by the court. That would probably cause a significant drop in the score. Has he requested copies of all of his credit reports since the divorce? There's got to be a reason for that large of a drop.
We've had a huge loss of income here, and I'm late on a lot of bills. My score is still around 600. Something major must have happened to drop your friend's score down to 200.
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What you may not have known about Credit Checks and Credit Ratings. MUST KNOW AND SCREAM ABOUT [View all]
Justice wanted
May 2012
OP
They aren't suppose to affect your credit but what I've been hearing is that they are affecting
Justice wanted
May 2012
#2
I do understand what you are saying that it isn't suppose to affect credit but I'm saying companies
Justice wanted
May 2012
#7
i agree that credit scores are chock full of errors and the accuracy standards suck
unblock
May 2012
#8
This is why I posted this. Credit checks shouldn't affect people but they are. Credit Reports
Justice wanted
May 2012
#10
Yes, I realize late payment and missed payment affect credit BUT The first example I gave of my
Justice wanted
May 2012
#6
Sorry, but there is no possible way a FICO score would move 650 points due to inquiries.
bluesbassman
May 2012
#11
He can't image what else other than inquieres did that. He was always on time with payments-usually
Justice wanted
May 2012
#16
Something is certainly wrong then. He should contact the Credit Bureaus to investigate.
bluesbassman
May 2012
#22
unsolicited lenders are allowed to use a limited credit pull that doesn't affect your score
unblock
May 2012
#15
Yeah. He went from 100% perfect score to the only person 100 points below the minimum.
joeglow3
May 2012
#27
While the poster, or the poster's friend, obviously got the numbers wrong,
Egalitarian Thug
May 2012
#50
hmmm, Maybe this is something my friend should into if someone has a name similar to him OR
Justice wanted
May 2012
#19
I am not misinforming people. Your credit score is affecting you more than you THINK!
Justice wanted
May 2012
#21
I'm very well aware of how Bank of America has messed up my credit scores through false reporting
slackmaster
May 2012
#25
That is not how credit scores work. First there is a difference between hard and soft credit checks
WhollyHeretic
May 2012
#23
Pretty much. 850 score, for one, is suspicious; 850 to 200 from score being alone pulled is fantasy
REP
May 2012
#61
If employers didn't find useful information, they would not pay to do the credit check
FarCenter
May 2012
#41
"irresponsible in one aspect of their life is likely to be irresponsible in other aspects"
guardian
May 2012
#48
and for financial companies, a good credit rating is an indication of "something left to lose"
magical thyme
May 2012
#56
Then maybe it would be wise for all potential employees to do a credit check
blackspade
May 2012
#57
How about either requiring credit rating agencies to publicize their criteria
Egalitarian Thug
May 2012
#47
Their criteria are published and well-documented. Their specific algorithms are proprietary.
slackmaster
May 2012
#49
No they aren't. What is "public information" are vague guidelines with no specific
Egalitarian Thug
May 2012
#51
The courts have ruled that credit agencies and lenders CAN have private actions brought against them
slackmaster
May 2012
#53
I've been down that road myself, I can certainly understand your dilemma.
Egalitarian Thug
May 2012
#63
Bank of America is clearly in violation of the California Civil Code in my case, but I doubt...
slackmaster
May 2012
#65
I'm afraid you can "bank" on it. Too many of "our" representatives have made fortunes
Egalitarian Thug
May 2012
#89
People who have made numerous application for credit are statistically a bit more likely to default
slackmaster
May 2012
#58
YOU KNOW FOR ALL THOSE PEOPLE WHO CLAIM I AM TALKING OUT OF MY ASS I WILL TELL YOU
Justice wanted
May 2012
#69
I used to work Credit and Collections for SWBell. Credit reports don't work that way.
REP
May 2012
#71
Its definitely a reflection of the power the private sector can wield.
napoleon_in_rags
May 2012
#73