03-15-2013 02:11 PM
03-15-2013 03:11 PM
That makes no sense. That tells me late payments haunt you for the rest of your life. That cannot be.
Each late payment will come of 7 years from the date of occurence. When the last one is gone the TL will again become positive and stay for up to 10 years from the date closed.
03-15-2013 03:41 PM
03-15-2013 05:05 PM
03-15-2013 06:04 PM
03-15-2013 07:21 PM
03-19-2013 05:24 PM
RobertEG wrote:All OC accounts, open and closed, continue to be scored in your AAoA.
Once an item is excluded from your credit report, it is no longer available for scoring.
But AAoA is a scoring variable. How is this possible?
03-28-2013 01:00 PM - edited 03-31-2013 09:47 AM
I have a bunch of closed off accounts (ex. car loans) that have been paid off years ago. They no longer show up in Equifax's credit report for the AAofA. In fact none of my closed accounts are in their calculation. So by their calculation my oldest account is only 11 years and the AAoA is 4.5 years and they also include my
chequing account. I did my calculation of all my accounts and have wildly different numbers.
Edited: I checked my accounts again. Apparently Equifax was not including my chequing account but a $2500 overdraft amount on the chequing account that I didn't realized I had back then. I thought my overdraft amount was created when I got my mortgage several years later. It shows up in my CRs as never being used but is part of my total credit available.
03-28-2013 10:22 PM
I have a bunch of closed off accounts (ex. car loans) that have been paid off years ago. They no longer show up in Equifax's credit report for the AAofA. In fact none of my closed accounts are in their calculation. So by their calculation my oldest account is only 11 years and the AAoA is 4.5 years and they also include my chequing account. I did my calculation of all my accounts and have wildly different numbers.
Do you recall how long it took for Equifax to no longer show the closed accounts? Would you be willing to participate in a survey about closed accounts? Your experience would be very helpful!
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