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Aug 15, 2014
FICO, formerly known as Fair Isaac Corp, has just released a new model for credit scores. On Thursday, the company announced that the latest version will no longer weigh medical debts as a part of the score. It will also discount overdue medical payments yet to be made.
FICO scores are used in determining a person’s financial responsibility. The 3 major credit bureaus (Experian, Equifax, and TransUnion) issue a credit score to lenders who will use that score to determine whether you will be a risky borrower. So, with a bad credit score, you may get turned...