SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                  SCHEDULE 13G
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. 7)


                      Fair, Isaac and Company, Incorporated
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   303250 10 4
- --------------------------------------------------------------------------------
                                 (CUSIP Number)


     Check the following box if a fee is being paid with this statement: [ ]. (A
fee is not required only if the filing person:  (1) has a previous  statement on
file  reporting  beneficial  ownership of more than five percent of the class of
securities  described  in Item 1;  and (2) has  filed  no  amendment  subsequent
thereto reporting  beneficial  ownership of five percent or less of such class.)
(See Rule 13d-7.)

     *The  remainder  of this cover  page  shall be filled  out for a  reporting
person's  initial  filing on this  form with  respect  to the  subject  class of
securities,  and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

     The  information  required in the remainder of this cover page shall not be
deemed to be "filed"  for the purpose of Section 18 of the  Securities  Exchange
Act of 1934 ("Act") or otherwise  subject to the  liabilities of that section of
the Act but shall be subject to all other  provisions of the Act  (however,  see
the Notes).

                               Page 1 of 5 Pages




CUSIP No. .......................................................... 303250 10 4


(1)  Names of  Reporting  Persons  S.S. or I.R.S.  Identification  Nos. of Above
     Persons....................................................................

                              Judith Woolsey Isaac
                                   ###-##-####
                            (Social Security Number)

- --------------------------------------------------------------------------------

(2)  Check the Appropriate Box if a Member of a Group (See Instructions)
       (a)......................................................................
       (b)......................................................................

- --------------------------------------------------------------------------------

(3)  SEC Use Only...............................................................

- --------------------------------------------------------------------------------

(4)  Citizenship or Place of
     Organization...................................... United States of America

- --------------------------------------------------------------------------------

Number of                             (5)    Sole Voting Power
Shares Beneficially                          ......................... 1,702,590
Owned by Each Reporting               ------------------------------------------
Person With                           (6)    Shared Voting Power
                                             .........................   247,500
                                      ------------------------------------------
                                      (7)    Sole Dispositive Power
                                             ......................... 1,702,590
                                      ------------------------------------------
                                      (8)    Shared Dispositive Power
                                             .........................   247,500

- --------------------------------------------------------------------------------

(9)    Aggregate Amount Beneficially Owned by Each Reporting Person
       ............................................................... 1,950,090

- --------------------------------------------------------------------------------

(10) Check  if the  Aggregate  Amount  in Row 9  Excludes  Certain  Shares  (See
     Instructions)....................................................

- --------------------------------------------------------------------------------

(11) Percent of Class Represented by Amount in Row 9
     ..................................................................    14.4%

- --------------------------------------------------------------------------------

                                Page 2 of 5 Pages




(12)   Type of Reporting Person (See Instructions) .......................... IN

- --------------------------------------------------------------------------------


Item 1 (a)  Name of Issuer:

            Fair, Isaac and Company, Incorporated

Item 1 (b)  Address of Issuer's Principal Executive Offices:

            120 North Redwood Drive
            San Rafael, CA  94903-1996

Item 2 (a)  Name of Person Filing:

            Judith Woolsey Isaac

Item 2 (b)  Address of Principal Business Office:

            120 North Redwood Drive
            San Rafael, CA  94903-1996

Item 2 (c)  Citizenship (Place of Organization):

            United States of America

Item 2 (d)  Title of Class of Securities:

            Common Stock

Item 2 (e)  CUSIP Number:

            303250 10 4

Item        3. If this  statement  is filed  pursuant  to Rules  13d-1(b),  or
            13d-2(b), check whether the person filing is a:

            (a) [ ]    Broker or Dealer registered under section 15 of the Act

            (b) [ ]    Bank as defined in section 3 (a) (6) of the Act

            (c) [ ]    Insurance  Company  as defined in section 3 (a) (19) of
                       the Act

                               Page 3 of 5 Pages




              (d) [ ]    Investment  Company  registered  under section 8 of the
                         Investment Company Act

              (e) [ ]    Investment  Adviser registered under section 203 of the
                         Investment Advisers Act of 1940

              (f) [ ]    Employee Benefit Plan, Pension Fund which is subject to
                         the  provisions  of  the  Employee   Retirement  Income
                         Security  Act  of  1974  or  Endowment  Fund;  see  ss.
                         240.13d-1 (b) (1) (ii) (F)

              (g) [ ]    Parent Holding Company, in accordance  withss.240.13d-1
                         (b) (ii) (G) (Note: See Item 7)

              (h) [ ]    Group,  in accordance  with ss.  240.13d-1 (b) (1) (ii)
                         (H)


Item 4.  Ownership

              (a)   Amount Beneficially Owned:

                                    1,950,090

              (b) Percent of Class:

                                    14.4%

              (c) Number of shares as to which such person has:

                      (i)    sole power to vote or to direct the
                             vote .................................... 1,702,590

                     (ii)    shared power to vote or to direct the
                             vote ....................................   247,500

                    (iii)    sole power to dispose or to direct the
                             disposition of .......................... 1,702,590

                     (iv)    shared power to dispose or to direct the
                             disposition of ..........................   247,500

Item 5.     Ownership of Five Percent or Less of a Class

              If this statement is being filed to report the fact that as of the
              date hereof the reporting  person has ceased to be the  beneficial
              owner of more than five percent of the class of securities,  check
              the following [ ].

                               Page 4 of 5 Pages




Item 6.     Ownership of More than Five Percent on Behalf of Another Person

            Inapplicable.


Item 7.     Identification  and  Classification of the Subsidiary Which Acquired
            the Security Being Reported on By the Parent Holding Company

            Inapplicable.


Item 8.     Identification and Classification of Members of the Group

            Inapplicable.


Item 9.     Notice of Dissolution of Group

            Inapplicable.


Item 10.    Certification

            Inapplicable.


                                    SIGNATURE

     After  reasonable  inquiry and to the best of my  knowledge  and belief,  I
certify  that the  information  set forth in this  statement  on Schedule 13G is
true, complete and correct.


        Dated:  January 31, 1998.

                                                 /s/ Judith Woolsey Isaac
                                                 -------------------------
                                                     Judith Woolsey Isaac

                               Page 5 of 5 Pages