I am Thinking of a Number…
By Rachel Lynn Foley - Kansas City, MO Bankruptcy on Dec 14, 2007 in Benefits of Bankruptcy, Credit Cards, Credit Reports, General Bankruptcy Information, Personal Finance
What does FICO stand for and why is it important? FICO is an acronym for Fair Isaac & CO. This company developed a mathematical equation to determine who will be credit worthy and who is not. Each credit bureau will issue a FICO score and then based on those three scores the lender will generally pick the middle of the three. For more information about the importance of your FICO score read Carmen Dellutri’s article “How important is your credit score after bankruptcy?
To learn more about your credit score visit the FTC. To see first hand as to what things my affect your score try the FICO simulator. For more information about your credit and how to pull it for free click here.
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