I noticed awhile back on my reports that I have two 30-day lates from 2009. One is from my school loans, and I was in deferment at the time. The other is from an old Phillips 66 gas card that was closed in good standing/$0 bal/paid as agreed. Was never late, and it only shows that way on EX. The other two reports show that month as paid/good. They both will drop off next year, should I dispute it? Is it worth it? I'm sure the effects of a 30 day late are pretty over given my dirty bucket anyway, but it would help to clean up those two accounts and bring both to a "positive" state.
2nd... Once they are brought current and positive again (30 day gone), will those accts remain postive for 10 yrs after the 30 day is dropped, or only until 2019? I say 2019 because that's when the acct was closed.
Thanks for the input!
As stated 30 day lates typically only affect Fico for a few years though they probably still cost a few points at the 7 year point, these are closed accounts and nearly 6 yrs old, I would just let sleeping dogs remain sleeping dogs, there are cases of new lates being reported and scores dropping because of it, if these guys were to update those TLs and you dont get the deletion it is going to bring them to Ficos attention yet again.
Closed accounts remain on file for up to 10 years, the time is calculated from the date they were closed, some drop earlier than 10 years others can remain past 10 years.
Ok, thanks for the advice. Just trying to do what I can to clean up what I have control over. I can't do anything about my IIB accts, but wanted to see about bringing these to a positive state.
I'll just leave them. Will they automatically just "drop" off next year, or will I have to call the CRA and dispute it off being past 7 yr time frame? And of course I'm assuming that once they do drop off... That act will show positive again?
I'll just leave them. Will they automatically just "drop" off next year, or will I have to call the CRA and dispute it off being past 7 yr time frame? And of course I'm assuming that once they do drop off... That act will show positive again?
On accounts that closed in good standing each late drops at the 7 year mark and once all of them are gone it is a totally clean good account that will remain for up to 10 yrs post closing date. If the account is a CO, then the entire TL would most likely be removed at the 7 yr mark and if for some reason they let it go to the full 7.5 yr mark each late would drop at 7 yr mark in the final 6 months its on file.
Gotcha! They are both closed accts with $0 bal and in good standing / paid as agreed expect for the 30 day late from 2009. Should have fought it then, lol. Oh well, I'm gardening anyways, so big deal to just ride it out, and they will both drop next summer, and then remain postive on my reports till 2019 im ok with that!
im ok with that!
