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  • Comment Detail

  • Date: 02/07/18
    First Name: Carol
    Last Name: Crowley
    Email: carol.c.crowley@gmail.com
    Organization Type: N/A
    Organization: Consumer

  • Comment

    The changes to credit scoring do not take into consideration the person's income or ability to repay the debt. My personal credit score swung from 721 to 659 in a matter of months because I opened a HELOC and used the funds to renovate a home. The drastic swing was not a reflection of my credit or ability to repay; it declined rapidly due to the new algorithms put into place my credit companies. Income needs to be included in credit models going forward so consumers are not negatively impacted by unsupported information.