So focused on the mess I've made in past few years since divorce and just had a thought... If old bad accounts fall off in 7 years... what about accounts that were positive? Mixed in with my bad are quite a few good! Will they fall away leaving me with all negative thus bringing my score down? I have just begun my repairing and am worried already!
They generally report for 10 years
Ok. SoI have several good accounts paid in full and closed at the end of 2007. When those fall off will I see a big drop in scores due to more recent negative issues? This is not good as I'm trying to improve scores to get a mortgage!
It depends, how many active accounts do you have now in good standing? How old are the negative items?
Worst case scenario, by the time your good stuff falls of your report your negatives will also have a reduce affect on your score as they will be older as well. To combat this affect it may help to open a few trade lines now and keep them in good standing if you dont have a significant amount of good accounts now.
I like the answer above, you will need some open positive accounts to help maintain a thicker and healthier file.