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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Can someone answer this? How long do 5 year old collections hurt your score?

I've seen examples on here of folks gaining 50+ when their 7 y.o. CA fell off, thereby making it a perfectly clean report. YMMV of course.

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Posts: 342
Registered: ‎07-06-2012
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Re: Can someone answer this? How long do 5 year old collections hurt your score?

haha Shogun, I am going to make this work somehow.  Only 4 left and I found out LRS will work with you.  Right now I need to get CSD to work with me on the latest.

 



WOW llecs if a 7 year old collection came off I would be SO happy with a 50 point increase.  I am happy with what I have done already I am surprised tho my score is not that much higher than when I began fixing my credit.  I started out with a 595 or so, but now I am not so much higher than that. 

 

Stil waiting for some more points, but they are not coming.

 

4 collections left.

1 charge off

1 forclossure with ontime payments for 4 years

 

All falling off next year, except 3 collections.



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Posts: 4,189
Registered: ‎03-24-2008
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Re: Can someone answer this? How long do 5 year old collections hurt your score?

Your points will come, just keep up the good work. Baddies hurt less over time and before you know it, you'll be in the 700 club.

 

My last CA dropped off showed no score change, but a year later my CO dropped off and had a 40 point increase!! Hoo Woo!

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
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Registered: ‎05-13-2012
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Re: Can someone answer this? How long do 5 year old collections hurt your score?

2 to 5 more yrs, but they can go into charge off stage, that will remain even longer...

Handle ya bidness, It pays!
Frequent Contributor
Posts: 342
Registered: ‎07-06-2012
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Re: Can someone answer this? How long do 5 year old collections hurt your score?

Do charge off's remain longer?



Starting Score:
August Equifax 558 TU 600 EX 570
Current Score: Equifax FICO 642 TU FICO662 EX 651 (credit.com) 06/21/2013
Goal Score: 720 All Across

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Moderator
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Registered: ‎03-24-2008
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Re: Can someone answer this? How long do 5 year old collections hurt your score?


LoveGoodCredit wrote:

Do charge off's remain longer?


CO's are the same as CA's, 7.5 years from the DoFD

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
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Re: Can someone answer this? How long do 5 year old collections hurt your score?

[ Edited ]

LIGHTNIN wrote:

LoveGoodCredit wrote:

Do charge off's remain longer?


CO's are the same as CA's, 7.5 years from the DoFD


And I'll add that in some situations, depending on the creditor, the negative aspects can disappear by 7-7.5 yrs and the TL can continue to report, but report as a positive TL. Happened to a Zales CO of mine. The CO apsects disappeared around 5 yrs without any help from me and reported years and years beyond that [as a positive].

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