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Re: fico- "paying past debts increase score." does settling also


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Posted by HDAlex (4.63.17.38) on January 14, 2003 at 10:40:29:

In Reply to: fico- "paying past debts increase score." does settling also posted by stal on January 14, 2003 at 02:32:01:

Not only will it not raise your score, but if you are paying on older debt (2 or 3 years old), it will LOWER your score, because the date of last activity will be refreshed to when your payment was made.

Isn't that great that paying what you owe lowers your score? All part of the credit racket designed to get us to pay more fees.


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