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njdad

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New FICO scores - Deed in Lieu
I just read about the new FICO scoring system and it said "FICO will begin ignoring debt in collections that has been completely paid off or settled. Currently, debts that go into collections, even if they are paid off, are factored into all credit scores for up to seven years."

A couple years ago I completed a deed-in-lieu on my property. This, obviously, as been hurting my credit score. Is this something that the new system would affect?

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Anyone? :)

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Nope, this won't affect you at all.  FICO 9 deals mostly with medical debts and paid collection accounts.  Doesn't address foreclosures or reposessions.  Good news it that as your DIL gets older, it is doing less damage, so time is on your side.

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