Re: No one's safe from FICO

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Posted by Mike on January 18, 1999 at 14:01:13:

In Reply to: No one's safe from FICO posted by Jon on January 16, 1999 at 22:05:41:

To all the credit fourm readers,
You are right, there is noone safe from the fico scoring system. Consider the following example from my life and see. My friend and I were trying to buy houses at the same time. I have one charge off on my credit and his was perfect. I was given a loan through the VA for 6.5% interest and he was flat out denied. If that doesn't make you sick, then I don't know what will. I guess if you have perfect credit you are just as much of a bad person as someone with poor credit because you didn't give your creditors interest and late fees that they rely on to stay in business. What makes me sick is that I had to pay that charge off in full before I could get a mortgage. Anyway, I hope this example really turned your stomach and makes you want to write you legislators even more, it made me afterall.
Mike

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: To all the credit fourm readers,
: You are right, there is noone safe from the fico scoring system.  Consider the following example from my life and see.  My friend and I were trying to buy houses at the same time.  I have one charge off on my credit and his was perfect.  I was given a loan through the VA for 6.5% interest and he was flat out denied.  If that doesn't make you sick, then I don't know what will.  I guess if you have perfect credit you are just as much of a bad person as someone with poor credit because you didn't give your creditors interest and late fees that they rely on to stay in business.  What makes me sick is that I had to pay that charge off in full before I could get a mortgage.  Anyway, I hope this example really turned your stomach and makes you want to write you legislators even more, it made me afterall. 
: Mike


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