topic Re: Potentially negative item on my Experian report. in General Credit Topics

Potentially negative item on my Experian report.

gramps1968 — Mon, 08 Oct 2012 16:34:00 GMT

I recently checked my Experian report and noticed that my Wells Fargo morgage is listed under the "potentially negative" category on the report. I had 30 day late payments in Aug. and Sept. 2011 and all my payments have been good since then. How many more on time payments need to be made before this item is returned to the good section of my credit report?

Re: Potentially negative item on my Experian report.

llecs — Mon, 08 Oct 2012 17:25:49 GMT

It should stay there for as long as those lates report. IMO, ignore Experian's classifications. Sometimes they have been inaccurate for me (e.g. says an account is good but FICO sees it as bad).

Per FICO scoring, those 30-day lates damage will fade over time and within 2 years or so from that date, FICO will largely stop scoring them.

Re: Potentially negative item on my Experian report.

Shogun — Mon, 08 Oct 2012 17:27:01 GMT

It will stay in the bad section until those lates are off. They fall off naturally 7 years from their respective dates or you can try and GW them off.

Re: Potentially negative item on my Experian report.

Shogun — Mon, 08 Oct 2012 17:27:45 GMT

Side note. llecs is outtyping me this morning. :)