- Did you know the Statute of Limitations (SOL's) for Judgments
and Federal Tax Liens in Washington State is 10 years from the date
filed? However, like California, there is no real SOL for State Tax
Liens, and therefore must be settled in order for the debt to be
removed from the credit report.
- Adding a positively reporting installment loan payment provides
at least twice the positive impact to a FICO score as a revolving
account over a 12 month period.
- Did you know that Washington State has a six year Statute of
Limitations on contractual debt (i.e. Charge offs & Collections)?
This means that these types of obligations can be legally discharged
and removed from credit reports.
- The FICO scoring model takes into account up to 94 data points
or "traits" on each person that has ever applied for financing of
any type. In addition to the commonly known items such as number of
accounts, mix of credit, etc., these "traits" rate items such as
length of time at each job and residence, job titles, number of
employers and types of bank accounts open, etc. Of these 94 traits,
only six look for positive attributes, the remainder are looking for
neutral to negative.
Credit tips and facts by Eukopia
Credit Solutions
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