@Revelate wrote:
@EW800 wrote:
@Miscellamy wrote:I'm also curious -- do you think that a four year-old serious derog. would still have an impact on scoring and/or bucketing? As in, would it be realistic to anticipate some kind of bump if that account were removed?
(This is strictly hypothetical at this point, but I seem to be making some headway in my dispute over the one serious baddie in my file, a 90-day late from 2010. And about time -- the creditor has no record of it, and it's not my SSN on the account. I do have a closed account with that creditor, which is reported separately. Sheesh!)
You will likely get a much better answer from some of our experts within this forum, however from all that I have read up on, serious derogs such as 90+ day lates, BK, foreclosure, collections and so on do impact the score the entire time they are on the report, however less and less over time. Within that being the case, I would think that if you could get the 90 day late removed, you would see an increase in points. I would hope that a 90 day late from four years ago would not have that big of an impact, however I bet there are some folks out there that would know for sure!
The problem with this (and to answer your other question) is a serious derogatory puts you into a dirty and therefore ugly bucket.
A late might be different in some respects than something like a tax lien or judgement or similar public record, but in my case with a tax lien still on the reports (and to be complete, a collection and a 30/60 day late) I'm estimating my scores are going to max out something like this:
FICO '04: 700
FICO 8: 720-730
Unfortunately I'm pretty close to these now (once I stop fiddling with my balances and tradlines testing various minutiae), and likely going to remain that way until 2018 when I get a clean sheet. At this point I'm just sitting on my hands, racking up payment history, and not doing anything stupid. There's a very good chance I go straight to 800 on the FICO 8 model (and hopefully a 760 on FICO '04 though I have my doubts on this one) when I finally have my last derogatory fall of, that's my goal at any rate.
So is there a chart someone where that helps you figure out what bucket you are in? I would be curious to see what bucket I am in where I will basically plateau once I get the last 3 CO off. One left to fall off this year the others to fall off in 2018, the rest is just old lates, lates and more lates from 2008-2012.
@CreditDunce wrote:
@New_Beginning wrote:
So is there a chart someone where that helps you figure out what bucket you are in? I would be curious to see what bucket I am in where I will basically plateau once I get the last 3 CO off. One left to fall off this year the others to fall off in 2018, the rest is just old lates, lates and more lates from 2008-2012.I don't know of a chart that tells you which bucket you are in. Much less what the score range is. But there are many threads with theories on the different buckets.
Here are a couple:
And the following thread has an interesting theory put forward by RobertEG:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Buckets/td-p/783757/highlight/true
You can search google for more info. But it is all speculation since FICO isn't saying much.
Thanks!
@EW800 wrote:My experience is that Revelate is dead on. In my case, I have some real baddies from 18-24 months ago, however since then I have made every payment on time, and paid down UTIL big time. As a result, I have seen a very nice rebound in scores as time has passed (see below), however I am sure that I will stuck at or close to where I am at now as long as the baddies continue to show. Recently good behavior definitely seems to at least help.
Thanks for your insight. I see that in the past two years (based on your scores in your signature) you at least have made some headways. I'm in a similar boat as you, but have only seriously been working on my credit for the past 8 months. Hopefully I can be in the 700's like you in the next year or so. I'm making headway.