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Established Member
andaheart
Posts: 44
Registered: ‎05-27-2008

Lates effecting credit

I have four 180 day lates from several years ago (student loans, from 2004 and 2005).  Are these guys severely impacting my credit now?  Does the fact that they are 180lates and not 30 day lates make a difference?  These are the only negatives on my CR and am looking to buy in Spring/Summer of 2009.  Thanks!
Valued Contributor
slyhouse08
Posts: 2,340
Registered: ‎04-08-2008

Re: Lates effecting credit

You need to start sending GW letters out...ASAP...begging for removal of the lates...I've heard that 30 day lates have little affect after two years...but a 180 day late is almost the same as a collection....as far as score impact...
Established Member
andaheart
Posts: 44
Registered: ‎05-27-2008

Re: Lates effecting credit

Thanks for the reply.  Interesting though, as my FICOs are just about to hit 700. 
Valued Contributor
slyhouse08
Posts: 2,340
Registered: ‎04-08-2008

Re: Lates effecting credit

These lates are pretty old...they have little affect...this long...
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007

Re: Lates effecting credit

I would send GW letters.
 
A single 30 day late has little affect on scores after 2 years.
 
However, I believe once a late hits 120 or 180, it becomes nearly as bad as a public record.
 
I do not believe they stop affecting after 2 years, but uncertain.
 
For less than $0.75 per letter, I'd send GW and hope to accomplish something.
 
 
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Super Contributor
marty56
Posts: 5,679
Registered: ‎10-06-2007

Re: Lates effecting credit

The last time my BofA account was report 120 days late was in August 05 and I have heard that each year a late counts less so I hope I get some points on EQ when August rolls by.
 
 
09/12/2013 FICO: EQ: 772 EX:813 TU:752
Established Contributor
scramblingin2007
Posts: 749
Registered: ‎08-19-2007

Re: Lates effecting credit

I just had a bunch of 120 lates removed..got 20 points! Lates hurt badly!

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