Did you know...?

Child support, alimony, or any other family support does not impact your credit score!

I get a lot of questions about this one, and the answer is clear. In spite of the fact that late payments, arrears, and and even on-time payments can and often DO appear on consumer credit reports, they do NOT impact your credit scores. Given that so much of the alleged indebtedness of non-custodial parents is debated or contested in court, it was determined that it was best to not figure these items into the credit scoring formulas.

That having been said, it's also important to note that while it does not factor into the scores, it can, and often will, impact underwriting decisions, and potentially complicate the approval process for the consumer seeking financing.

As always, please feel free to contact me directly with your consumer credit related questions!

Doc Compton

THE consumer credit expert.