@Anonymous wrote:
I've read it many times here - over and over its been said 30 day lates don't hurt your score after 24 months.
Is that not correct?
You won't find that anywhere that I know of in any FICO documentation or opinions. If someone can find such a position I will be grateful and amend my comments.
All negatives lose impact over time but there are just too many variables to say how much one particular action wil impact scoring.
I agree that a single 30 day late will lose alot of it's sting in a 24 month period but as I said in another post we have to be careful about absolutes.
One person might be helped greatly after a 30 day late ages a bit but someone else will not necessarily see the same result because their credit profile is different.
I wish there were definitive breakdowns (i.e. at 12 months, 24, etc.) as to how an aging negative will continue to affect a score but as of right now I know only of anecdotal references and nothing set in concrete.
