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Established Member
BaseballFan
Posts: 31
Registered: ‎09-27-2010
0

BofA 60 and 90 day lates - ieas?

I have an old BofA account (paid off over 2 years ago) with a problematic payment history.  There is a 60 day late and 90 day late in Feb and March 2007, respectively.  I would obviously love to have these removed, if possible.  There are also a few 30 day lates after that, but all over 2 years old so I don't technically think they are hurting my score terribly at this point so I'm not as worried about those.

 

I would be so grateful for any advice on how to do this...the account has been paid in full and closed for over 2 years now.  Do I send a GW?  Do I dispute the account through the bureaus?  Not sure what my best option would be.  I appreciate any advice anyone can offer.

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MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: BofA 60 and 90 day lates - ieas?

 


BaseballFan wrote:

I have an old BofA account (paid off over 2 years ago) with a problematic payment history.  There is a 60 day late and 90 day late in Feb and March 2007, respectively.  I would obviously love to have these removed, if possible.  There are also a few 30 day lates after that, but all over 2 years old so I don't technically think they are hurting my score terribly at this point so I'm not as worried about those.

 

I would be so grateful for any advice on how to do this...the account has been paid in full and closed for over 2 years now.  Do I send a GW?  Do I dispute the account through the bureaus?  Not sure what my best option would be.  I appreciate any advice anyone can offer.


 

Hi and welcome to the forums.

 

You should only dispute inaccurate information. What I see as your only option is to start with the GW letters. All BoA can do is say no but keep trying.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


Established Member
BaseballFan
Posts: 31
Registered: ‎09-27-2010
0

Re: BofA 60 and 90 day lates - ieas?

Thank you for the quick response, marinevietvet!

 

Is the 60 day late worth asking for removal as it's now 3 1/2 years old, or should I just ask for the 90 day to be removed as from what I understand those will hurt you the full length of time that they report (another 3 1/2 years at this point)?

Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: BofA 60 and 90 day lates - ieas?

 


BaseballFan wrote:

Thank you for the quick response, marinevietvet!

 

Is the 60 day late worth asking for removal as it's now 3 1/2 years old, or should I just ask for the 90 day to be removed as from what I understand those will hurt you the full length of time that they report (another 3 1/2 years at this point)?


 

There are different opinions as to how long a 60 day late will continue to hurt your score. Smarter folks than I say that after about two years a 60 day will begin to be looked at the same as a 30 day late score wise but every situation is different and I personally would try and get both the 60 and 90 removed.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: BofA 60 and 90 day lates - ieas?

Yeah, marinevet kinda summed it up!

There is only one objective source for the answer to your question about how long, and how significantly, prior derogs affect you score, or deteriorate in affect over time.

That source is Fair Isaac.

Unfortunately, at least for we consumers, the workings of the FICO scoring algorithm is a proprietary trade secret for which you will get no clear answer.

So all we can rely on are anecdotal experiences posted by consumers.  Hardly exact.

As marinevet has summarized, my review of prior anecdotal posts in the past seems to indicate that, after two years, 60 day lates seem to count about the same as a 30-day late.  But lates above 60-days still remain as major derogs.  The rate at which deterioates is known only in the bowels of the FICO algorithm.

It might be possible that a recent 30-day late may hurt as much as an old 60/90 day late.  Who knows?

 

 

Established Member
BaseballFan
Posts: 31
Registered: ‎09-27-2010
0

Re: BofA 60 and 90 day lates - ieas?

Thanks for your response, RobertEG!  The mystery of the FICO score is a tough one to solve, that's for sure.  Best to avoid any derogatory reporting at all, which is what I've been successful in doing for the last 24 months!  But these old derog's are still dragging my score down (2 paid collections and these 2 serious lates).  Hopefully with all the great knowledge I've gained from reading these forums, I'll be able to get those taken care of and get my score UP! :smileyhappy:


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