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Member Since: May 2015
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I believe FICO scores are calculated using a different (and more lenient) scoring model because they are able to be seized in the event of a mishap... thus a larger amout of the lending risk is removed because they can recuperate at least a portion of that "loss" simply by seizing the property in question.
I hope that made sense lol
GalFawkes's reply was:
nope... not the case at all. if that were true, any lawyer or debt management company would be "acknowledging" the debt in question every single time they contacted a company on a clients behalf; you're on the right track, but at the same time really far off because you probably scared so many people half to death with that statement.
My advice to everyone is: do your due diligence when it comes to important stuff like this. do not believe everything you hear/read, and fit goodness sakes fact check your info b by checking multiple reputable sites/sources!!