I just checked my credit report and I found out that 2 serious delinquency are listed from March and Nov 2007. I lost my job in 2007 and I was behind 60 days in my auto payment and unpaid $30 from express store. The loan for my auto is paid off, but I believe it has been affecting my score all along. My question is , how long more would the negative report stays in my report , and would it make a big difference in my credit score once it is taken off ?
Delinquencies of less than 90 days are minor delinquencies, and lose most of their scoting impact after approx 2 years.
Any monthly delinquency must be excluded from your credit report no later than 7 years from its individual date of occurence.
And if these two are the only derogatory information on your report then you will probably see a score bump when the last one comes off. I know that when my last late pay dropped I saw a rise of 20-30 points with a clean report. A lot of it has to do with other factors including age of accounts and utilization of course. I can't recall if there were other improvements that may have added to it.