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I was thinking the same thing Shawnee; I don't understand why you are a C with no deliquent accounts and Orbital62 is an A with 5! :dntknw: Go figure! :unsure:

 

I think what is killing me on that scoring model is the bogus credit history and public records. It appears that there is no difference between small judgments and BKs.

Oh, so you have a judgement or a BK showing on the Experian report; that would explain the C rating!

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I was thinking the same thing Shawnee; I don't understand why you are a C with no deliquent accounts and Orbital62 is an A with 5! :dntknw: Go figure! :unsure:

 

I think what is killing me on that scoring model is the bogus credit history and public records. It appears that there is no difference between small judgments and BKs.

Oh, so you have a judgement or a BK showing on the Experian report; that would explain the C rating!

 

That's my point, judgments are not nearly as damaging as a BK. Mine are old and paid and have not stopped me from getting some very good terms on credit cards, CU LOCs, and an auto loan. Trying to attach the same weight to a contested medical judgment that was paid by my insurance company as a BK is just plain ridiculous.

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I have a BK (2001) on my EX and I am rated AA. :angry:

 

I rest my case. I have never defaulted or been late on a loan. I have never filed BK. My three public records:

 

State tax lien filed 1998 after I left the state based on an error on my state 1994 return. $67

 

Contested medical judgment filed 2000. $375 that the provider tried to bill my insurance company over $1000 on. We won in court, the judge ruled in our favor as to the amount, but it still was a judgment.

 

Contested medical judgment filed 2003. $1700. Same as above, the provider tried to bill the insurance company over $5000.

 

I absolutely resent being graded a "C" by this model. And this FICO bit of a judgment showing that I "didn't pay a debt until ordered by a court to do so" is insulting.

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I have a BK (2001) on my EX and I am rated AA. :blink:

 

I rest my case. I have never defaulted or been late on a loan. I have never filed BK. My three public records:

 

State tax lien filed 1998 after I left the state based on an error on my state 1994 return. $67

 

Contested medical judgment filed 2000. $375 that the provider tried to bill my insurance company over $1000 on. We won in court, the judge ruled in our favor as to the amount, but it still was a judgment.

 

Contested medical judgment filed 2003. $1700. Same as above, the provider tried to bill the insurance company over $5000.

 

I absolutely resent being graded a "C" by this model. And this FICO bit of a judgment showing that I "didn't pay a debt until ordered by a court to do so" is insulting.

 

The scoring model just sees "three public records," I guess. You know a human doesn't look at these things. A human would be able to see your reasoning. We'd hope, anyway...

 

For me, the model possibly likes my long history (first account in 1985), low utilization (3%), low DTI (2%) and low inquiries (1) and puts all that above a 5-yr-old public record. But the more we all share these details, the closer we get to understanding the scoring logic... and what it likes and dislikes, so we know what to work on before placing a listing.

 

Is that 1983 TL on your EX report? I think that would really change things tremendously for you. It's absurd to lose over 20 years of history and get a C because of an obvious error. I'd be pissed too.

 

Edited for typo

Edited by LNY

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Sorry - I was away with BBQ duties...

 

Yup that was FICO score pulled on 5/8/06.

 

When Doc first set up the group I went and did the ScoreX thing and got a B which I was surprised at. Last week I did it again and it came up A.

 

There is nothing delinquent or rather shouldn't be - I'm working now to get those straightened out. I've got a moderately long history of credit and perhaps the mortgage and HELOC help boost the ScoreX numbers?

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Well, if we keep this up, maybe we'll figure out scoreX, for whatever that's worth. I guess it could help potential Prosper borrowers and lenders to have a grasp on how each combination of things is scored.

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Step 1 of 5: Identity Verification

 

 

Manual Identity Verification Required

 

Unfortunately, we are unable to verify your identity using automated methods. We want to be absolutely certain that it is you attempting to join Prosper with your identity rather than an impostor committing identity fraud.

 

If you are sure that you have entered all of your information correctly, there is a possibility that the third party database we are checking your identity against is incorrect. In this case, we will need to verify your identity manually. For manual verification, please provide copies of the following documentation:

 

* Social Security card

* Driver license or state ID card

* Proof of address (recent utility bill)

 

If you are registering as a borrower, please also supply:

 

* Proof of income (recent pay stub)

 

Please fax the documents to our verification department at (415) 869-2877. It typically takes 3-5 days to process identity verification requests. For other inquiries, please contact customer support.

 

If you have already provided copies of this documentation, there is no need to re-send it. You will receive an email from our identity verification team when your identity is verified, at which point you will be able to continue.

 

SCREW THAT!!!!! I'm not giving ANYBODY my social security card, driver's license, paystub, etc! Especially since they can't even read my utility bill (in German).

 

I haven't applied for anything since moving here... I guess that's why it won't accept me without manual verification. The CRA's wanna help the CA's find me. :P How dumb do they think I am? :P

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Hahahahaha!! You knew that would happen, didn't you? We have a bunch of CBer's there, BTW. Maybe one day y'all will find each other.

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I'm pretty sure the scoring system is messed up. I signed up - Came back with an AA. Go figure.

 

I've come to the conclusion that ScoreX is as bad or worse than FAKO scores. And I don't care about the claims of some creditors using it for decisions.

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Step 1 of 5: Identity Verification

 

 

Manual Identity Verification Required

 

Unfortunately, we are unable to verify your identity using automated methods. We want to be absolutely certain that it is you attempting to join Prosper with your identity rather than an impostor committing identity fraud.

 

If you are sure that you have entered all of your information correctly, there is a possibility that the third party database we are checking your identity against is incorrect. In this case, we will need to verify your identity manually. For manual verification, please provide copies of the following documentation:

 

* Social Security card

* Driver license or state ID card

* Proof of address (recent utility bill)

 

If you are registering as a borrower, please also supply:

 

* Proof of income (recent pay stub)

 

Please fax the documents to our verification department at (415) 869-2877. It typically takes 3-5 days to process identity verification requests. For other inquiries, please contact customer support.

 

If you have already provided copies of this documentation, there is no need to re-send it. You will receive an email from our identity verification team when your identity is verified, at which point you will be able to continue.

 

SCREW THAT!!!!! I'm not giving ANYBODY my social security card, driver's license, paystub, etc! Especially since they can't even read my utility bill (in German).

 

I haven't applied for anything since moving here... I guess that's why it won't accept me without manual verification. The CRA's wanna help the CA's find me. :) How dumb do they think I am? :rofl:

I sent all that, they wanted more. I sent DL, SS card, copy of bank stmt, voters registration, and car title. Then they wanted my W-2 or 1040 - to be a LENDER! I gave up on them.

 

btw, I asked my brother if he recognized one of those phone numbers on the verification questions as having belonged to his deceased wife and he sd none had been hers/theirs. I will never get past that online verification bec of some mistaken belief they have abt me having had a previous phone in Arkansas somewhere. Never lived there. Never had anything in my name there. Wrong. This month they offered up the same questions as last month and I flunked again. :unsure: oh well. No ScoreEx for me.

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Shawnee, I'm not clear on how you feel about this. :unsure:

 

Doc

 

By the way, I funded my Prosper account with $10k. Earlier this evening I pulled the funds back into my bank account.

 

Read the last few pages of this thread. ScoreX is a seriously flawed product. As a group leader you should put pressure on Prosper to come up with a more balanced scoring model.

 

As it stands now I'm not risking even $50 on Prosper. They screw me with a C grade and someone with a 583 FICO gets an A grade and I'm supposed to rely on that? I don't think so.

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Shawnee, I'm not clear on how you feel about this. :unsure:

 

Doc

 

By the way, I funded my Prosper account with $10k. Earlier this evening I pulled the funds back into my bank account.

 

Read the last few pages of this thread. ScoreX is a seriously flawed product. As a group leader you should put pressure on Prosper to come up with a more balanced scoring model.

 

As it stands now I'm not risking even $50 on Prosper. They screw me with a C grade and someone with a 583 FICO gets an A grade and I'm supposed to rely on that? I don't think so.

 

 

I completely agree to this... They better follow FICO, the industry standard.. no FAKOs...

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Shawnee, just for giggles check yours again. I was miffed as well because I had a C when my FICO and Plus scores are 700's. I just checked again and my ScoreX is now a B.

 

Now delinquent: 0

Delinquencies in last 7y: 0

Public records in last 10y: 1

First recorded credit line: Sep-1995

Total credit lines: 35

Inquiries in last 6 months: 11 :mellow:

 

ETA: "B" is the correct status for me, the only FICO I have over 720 is TU.

Edited by Peekaboo

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Shawnee, I'm not clear on how you feel about this. :cry2:

 

Doc

 

By the way, I funded my Prosper account with $10k. Earlier this evening I pulled the funds back into my bank account.

 

Read the last few pages of this thread. ScoreX is a seriously flawed product. As a group leader you should put pressure on Prosper to come up with a more balanced scoring model.

 

As it stands now I'm not risking even $50 on Prosper. They screw me with a C grade and someone with a 583 FICO gets an A grade and I'm supposed to rely on that? I don't think so.

 

I'm not one to jump on the bandwagon immediately until I get some feedback on others experiences. Like you, I have read of histories with scores fluctuating all over the place with no predictability. One of the reasons for the use of a credit score is its use as a predictability measure to determine risk. Based upon what I read, I didn't apply to get my score. I may have 770's, but I don't like the idea of getting an "F." I have no negatives except 31% utilization. I have never had a negative. This would be my first real negative if my experience is similar to yours. I don't think so either!

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scorex is the reason I want to see a myfico screen capture from anyone who wants a prosper loan.

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A bit more data here.. my FICO was last 734 on EXP, and I got an AA rating, which seems to imply 760+

 

I have a five year old Ch7 BK, and a few other public records (tax liens). I think the Amex pos TL from 1977 is helping, and I've got two other paid installment loans from 1982 and 1985 reporting on EXP.

 

Don't want to hijack the thread, but I think there's a good discussion about how and why to bid on loans on Prosper. I'll look around in the Prosper section and see if there's such a topic, or start one.

 

PsychDoc, thanks for starting the group. I moved $2k into Prosper and have $1.3k in loans, $350 waiting and the rest in bids. It feels like a great way to help others and possibly see a decent return on my investment (not primary goal)

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A bit more data here.. my FICO was last 734 on EXP, and I got an AA rating, which seems to imply 760+

 

I have a five year old Ch7 BK, and a few other public records (tax liens). I think the Amex pos TL from 1977 is helping, and I've got two other paid installment loans from 1982 and 1985 reporting on EXP.

 

Don't want to hijack the thread, but I think there's a good discussion about how and why to bid on loans on Prosper. I'll look around in the Prosper section and see if there's such a topic, or start one.

 

PsychDoc, thanks for starting the group. I moved $2k into Prosper and have $1.3k in loans, $350 waiting and the rest in bids. It feels like a great way to help others and possibly see a decent return on my investment (not primary goal)

 

I think it's a great investment also and helping out other people in the process is even better. There's risk everywhere; I mean I use to work for Marsh USA and they got caught price fixing, I use to buy $2,000 a year in stock purchases, my porfolio before they got caught was worth a little over $16,000 now I'll be lucky to get half of that amount today.

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I got an A rating. I was expecting a B or C.

 

EX FICO- 704

EX PLUS- 738

 

No lates, BKs, or other derogs. 15% DTI. First credit line opened in Aug 2002. 1 inq in last 6 months. 14 TLs, two closed paid loans on file.

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I got an A rating. I was expecting a B or C.

 

EX FICO- 704

EX PLUS- 738

 

No lates, BKs, or other derogs. 15% DTI. First credit line opened in Aug 2002. 1 inq in last 6 months. 14 TLs, two closed paid loans on file.

 

Not bad for such a young history! :D

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They screw me with a C grade and someone with a 583 FICO gets an A grade and I'm supposed to rely on that? I don't think so.

 

I totally agree. I was rated an HR, even though my FICOs are in the 600s and I have 0 public records and very few negatives (2 six year-old negatives and one recent). I also have 16 positive tradelines reporting, some going back six years or more, none of which have ever been late. I've noticed that folks with recent BKs and/or much more negative info reporting have higher ScoreX grades.

 

Since my loan funded, I can't go back and check to see if I'm still an HR.

 

ETA: First tradeline opened in 1988.

Edited by tamarind

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