Aging Baddies

[Anonymous]

So I have quite a few baddies on my report but most are a few years old 2-4 years in most cases. What I would like to know is how much they hurt the actual score once they are 2,3,4,5,6 years in? I know if they are still on the report you can be denied based on this, but what about the actual score?

[Anonymous]

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@Anonymous wrote:

So I have quite a few baddies on my report but most are a few years old 2-4 years in most cases. What I would like to know is how much they hurt the actual score once they are 2,3,4,5,6 years in? I know if they are still on the report you can be denied based on this, but what about the actual score?

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What are they? Look under the section of understanding Fico scores. As far as years they hurt period. Its hard to know as the years go by. 

[Anonymous]

Mostly Utilities. Comcast, gas bill from an old apartment, a few cell phones (cancel fees I forgot to pay when switching carriers), and a couple credit cards.

[Momof5]

CA's? OC's?  CO'S? how many days late, etc...

From what I have read, 30s and 60s hurt for the first 2 years and not so much after....90s + hurt for the duration.  A CA acct (the first one) can tank a score 100 pts easily.

[Anonymous]

Can you explain those 3? Sorry I'm really new.... And if I have the CAs if I pay them off will they change to something else? I'm guessing that's collection account and the other is a charge off? I think total I have 9 bad accounts, I'm relying on CK right now but I'm pulling MyFico reports on April 1st

[gdale6]

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@Anonymous wrote:

Can you explain those 3? Sorry I'm really new.... And if I have the CAs if I pay them off will they change to something else? I'm guessing that's collection account and the other is a charge off? I think total I have 9 bad accounts, I'm relying on CK right now but I'm pulling MyFico reports on April 1st

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CO, charge off

OC, original creditor

CA, collection agency

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Guide-To-Common-Abbreviations/m-p/224988?jump=true

[Anonymous]

Thank you for the link. So does paying a collection in full change it's status or just that it's paid in full?

[Momof5]

Paying a collection changes the status from unpaid to paid.  You still have a collection.  You need to negotiate for a PFD.

[RobertEG]

It is additionally important to assess the possibility that current derogs could get worse.

Any monthly level of delinquency can, of course, become higher if left unpsid.

Once the debt exceeds 90-late, the possibility rises that they may charge-off the debt and/or refer for collection or sekk tge bad debt.

Any delinquent debt still within your state SOL period could result in legal action, with the possibility of a judgment being added to your CR.