@Anonymous wrote:I had 2 30 day lates on a Visa. The information isn't pulling on any recent report, but my report fro 2011 says 09/09 and 01/10. I know they will stay on the report for 7 years and 180 days. How long do they do serious damage? We're trying to buy a house and it's listing as a big negative factor in MyFico.
There is anecdotal evidence that they affect the most the first 2 years post the late, though they may be costing a few points all the way to CRTP. If this account is still open or closed in good standing each of those lates will drop at the 7 year mark and when there are none left it becomes a total positive account.
@Anonymous wrote:
What about a bogus charge off? I've been fighting for years and am about to throw my hands up.
What do you mean bogus CO?? Need more info...
@Anonymous wrote:It's a charge off from an NSF fee. The dates are wrong, the account type is wrong, the loan type is wrong, and every dispute has changed it to something else that's equally as wrong. I'm not 100%sure when it's supposed to fall off. My old CRs say 07/2009 was the first date reported as a charge off, but God knows what they've done to it. I don't think that's right, either. Every letter I send them has been greeted with a "FCRA letter" with a whole bunch of laws and crap, but absolutely NOTHING about my account. I just sent a 623. Next I'll be reporting it to the CFPB and the IDPFR on my way to talk to a lawyer. I'm not sure how long it's' seriously hurting my credit (though I thought CO were pretty bad no matter how long). I'm pretty mad all these years later, but I'm also sick of the fight.
Ahh, ok, if you have sent the 623 then I would wait to see the result and if you dont get it updated to what it should be then I would escalate to the CFPB. If the CO is being updated then it is depressing your Fico, when the status date comes current it looks like it just happened in the eyes of Fico. You want COs to age without updating all the time. The time it can remain on file is at most 7.5 yrs from the DoFD of the account, this has to be reported to the CRA it is the law.