Need Help Understanding Lates

[ucibaqt]

I read in a previous post that after 2 years lates do not have as much as an effect on your score. Is this true?? Does this rule only apply to 30 day lates or 30-90 day lates. Are 120+ day lates considered delinquent? And if so, when others refer to DOFD, is the first 120+ day late, the delinquent they are referring to? I have about 27+ lates that are hurting my scores and I just want to know when the impact of them will lessen, because my GWs are not working.

Message Edited by ucibaqt on 07-16-2009 11:46 AM

[Anonymous]

Everything ages BUT 1 late pay can drop your scores 20 - 50 points. the higher your scores the harder you fall.

Many lates or 60, 90 day are killers! usually if you have a 120 late the account has gone to CO. Then it is read as a CO.

All late pays will drop 7 years from the month that they accured.

1 or maybe 2   30 lates will hurt less after 2 years but they can still be seen!

If you have 27 then YES  your scores will hurt big time.