I thought after 2 years those lates become less effective.
Starting Score: 565 Current Experian Score: 634 (Lender pull) Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull Current Transunion Score: previous 675,677 as of 09/23/13 Goal Score: 750 Take the FICO Fitness Challenge
It also depends on the severity of the lates. If they are only 30/60 then those are minor derogs and lose their punch after a couple years. 90+ are major derogs and will hurt quite a bit more and for longer.
Starting Score: 504 July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013 Goal Score: All Scores 760+, Newest goal 800+ Take the myFICO Fitness Challenge Current scores after adding $81K in CLs and 2 new cars since July 2013 EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.