@nycfico wrote:I know negative items generally stay on your report for 7 years. I also know that even while on the report, the older they get the less impact they have.
So my question is, is it a linear process? Does the negative impact decrease by about 1/7 each year for the full seven years, with it having half the impact around the 3.5 year mark? or is it more weighted, such that by a certain year, the impact lessens in an accelerated fashion so that by year 6 and 7 it is having very little impact?
Any guidance on this is appreciated!
We really dont know how Fico calculates and weighs these items all we really know is with time the impact is less. 30-60 day lates typically only affect ones Fico for 2 years, 90+ lates the entire time the item reports. It may even be related to over all profile as the same mark on one report is not the same on anothers. We know there are buckets to Fico so this is most likely how it is done, you get bucketed to another and it all depends on what is in your CR.
