Credit Score and Comments--what next?

[newmomnewme]

Thanks to the FREE Fico (TU) that is offered to Barclays card members, I found out that my TU Fico is 640 today; I think you can check it everyday? You only get the score and comments like mine below: 

Serious delinquency, and public record or collection filed  

Consumers who exhibit delinquency (falling behind on payments) with creditors are more likely to have problems in the future. The frequency (number of times), severity (how many days late), and recency (how long ago) of past-due information on a credit report strongly influences the credit score. Longer periods of consistent on-time payments demonstrate a good payment history and these late payments will have less of an impact on your credit score as time passes.

Length of time since derogatory public record or collection is too short  

Consumers may have negative information other than delinquencies (falling behind on payments) and charge-offs (loan defaults) on their credit files. This information could include tax liens, civil judgments, collection accounts or settlements of accounts, for example. While these customers may not have been delinquent on their loan records, this information is predictive of future payment risk.

My last public record will be removed hopefully by next week.  But, I will still have paid c/o, collections, and late payments.....what if the late payments are from 2008??

[madmann26]

---

@newmomnewme wrote:

.....what if the late payments are from 2008??

---

Depends on the severity of the late payments. 90-180 day lates hurt the worst, the longest.

[newmomnewme]

ok @ madmann26,  I have the following (all paid except for Midland): 

Where do I focus?? The most recent collections or trying to GW the lates? What is hurting me more???

1. HSBC C/O reports until 2015
2. Cap1 C/O reports until 2015
3. FCO CA reports until 2017
4. FCO CA reports until 2018
5. PRA CA reports until 2015
6. PRA CA reports until 2015
7. VS late payments- most recent 2011 (30) then some in 2008 (worst was 90) reports forever as the account is still open??
8. Target late payments- most recent 2011 (60) then some in 2010 (worst was 90) reports until 2018?
9. Suntrust Auto Loan- most recent Jan 2009 (30,60,90, AND 120) very close to REPO reports until 2016?

Oh, and the 2 midland's that were illegally re-aged!! Battling with them via BBB and CRA disputes.  

[guiness56]

The most recent collections are hurting you the most.

[newmomnewme]

Thanks Guiness! I am going to keep on with the GW removal requests...what is considered recent? 2 years? So, they are worse than old charge offs...

[guiness56]

Yes, a new collection is worse score wise than an older CO.  COs do lose impact with time and will always hurt your score until removed but a collection that is only 1 or 2 years old will have more impact than a 5 year old CO.

Both of them would be about equal in point lose if they happened at the same time.  Same with their aging.

Does that make sense or did I confuse you lol.

[newmomnewme]

---

@guiness56 wrote:

Yes, a new collection is worse score wise than an older CO.  COs do lose impact with time and will always hurt your score until removed but a collection that is only 1 or 2 years old will have more impact than a 5 year old CO.

Both of them would be about equal in point lose if they happened at the same time.  Same with their aging.

Does that make sense or did I confuse you lol.

 Officially confused....some lenders don't want to see the charge offs, most don't want recent collections, both are hurting my score. Soooooo, I am going to beg the most recent collection to delete.

Its FCO, paid them and they sent the satisfaction for the judgment, the judgment is now vacated...you think I should include that in the next GW letter??

[guiness56]

Yes both are hurting your score.  Since the collections are newer they are still impacting your score more than the older COs.

Go with those first.

Yes, I would include that in the GW letter to FCO.