How the New FICO Score Model Will Affect Banks

When Fair Isaac Co. announced a new credit scoring model last week, it earned significant media attention and won praise for helping consumers marred by medical debt to boost their scores. Collections - Other Consumer

By |2014-08-17T19:54:16-05:00August 17th, 2014|FDCPA|Comments Off on How the New FICO Score Model Will Affect Banks

New FICO Scoring Model for 2014

Fair Isaac Corporation (FICO) announced a new update to the FICO® score that will be appearing this summer just in time to make that new home purchase. It is not clear whether FICO 9 will be good for consumers or not. The FICO® score takes into account hundreds of factors for an individuals that are [...]

By |2017-05-20T11:45:43-05:00March 10th, 2014|News|Comments Off on New FICO Scoring Model for 2014

VantageScore to Ignore Paid Debts: Confused?

A New York Times article that ran last Friday highlighted a big shift in VantageScore's predictive model determining a consumer's credit score.  From now on it will ignore a debt once it is paid. FICO® has not changed their formula. While I applaud VantageScore's announcement and scoring model change, I am reminded about the confusion [...]

By |2017-05-20T11:45:48-05:00May 12th, 2013|Blog|Comments Off on VantageScore to Ignore Paid Debts: Confused?

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