Questions about my last negative accounts

[Anonymous]

I'm a long time lurker, first time posting. First of, I want to thank myFICO forum and the supporters in here. I really learned alot about credit from reading this forum. I started reading this forum in 2007 when I was in rebuilding mode. Since then I've handled my finances ALOT more carefully, and applied all knowledge picked up here almost religiously (paying my credit cards twice a month to keep utility down, for example).

To get to the point, I was doing my annual credit report pulls, and was left with a couple questions unanswered after searching post after post.

In my credit report, I have 3 negative accounts as listed below from Experian.

Bank of America

Status:  Paid,Closed.
Date Opened:
03/2003
Reported Since:
03/2003
Date of Status:
09/2005
Last Reported:
09/2005

Type:
Revolving
Terms:
NA
Monthly Payment:
$0
Responsibility:
Individual

Credit Limit/Original Amount:
$2,000
High Balance:
$1,744
Recent Balance:
NA
Recent Payment:
NA

Creditor's Statement:  Account closed at credit grantor's request.
Account History:
30 days past due as of Nov 2004, Jul 2004, Apr 2004, Dec 2003

Discover

Status:  Paid,Closed.

Date Opened:
04/2000
Reported Since:
05/2000
Date of Status:
05/2005
Last Reported:
05/2005

Type:
Revolving
Terms:
NA
Monthly Payment:
$0
Responsibility:
Individual

Credit Limit/Original Amount:
$2,700
High Balance:
$1,288
Recent Balance:
NA
Recent Payment:
NA

Creditor's Statement:  Account closed at credit grantor's request.

Account History:
90 days past due as of Sep 2004
60 days past due as of Aug 2004
30 days past due as of Jul 2004, Dec 2003

Target Visa

Status:  Paid,Closed.
Date Opened:
11/2001
Reported Since:
11/2001
Date of Status:
04/2008
Last Reported:
04/2008
Type:
Revolving
Terms:
NA
Monthly Payment:
$0
Responsibility:
Individual
Credit Limit/Original Amount:
$500
High Balance:
$1,159
Recent Balance:
NA
Recent Payment:
NA
Creditor's Statement:  Account closed at credit grantor's request.
Account History:
60 days past due as of Jan 2004
30 days past due as of Dec 2003

The questions are,

1) I count 10 derogatory items, is that correct? I was scratching my head a little bit when I pulled my scores earlier.

2) I wanted to know if someone could approximate when these negatives fall off my report, because when I was going through my EQ and TU reports (the free ones and the ones from myFICO), they don't list the approximate dates for me. *Edit* After reading some more, I might have run into the answer. Do I just add 7 years to each date listed above? Thanks *Edit*

No pressing need, really, just waiting to get to a point when my credit record is spotless once again. I've been wearing this scarlet letter as a form of penance for my reckless abandon as a teenager.

Thank you very much for reading!

[guiness56]

Hi and welcome to the forums.

It appears that your accounts only had late payments on them and were not CO'd or sent to collections. 

Those lates will come of 7 years from the date of each occurence. When the last one comes off, the account will again become a positive account and stay on your CR 10 years from the date closed.

[Anonymous]

Thank you guiness!

[mauve]

So around December 2011, Aoi

I'd start writing goodwill letters about once a month

I think I've seen a few recent GW successes with Target Visas. 

[Anonymous]

I've hesitated about GW letters, since I don't really know the implications of writing one. Been taking the "let sleeping dogs lie" method, and let time heal the wounds. I figured Dec 2011 would be THE christmas I really look forward to. Need to research some more on the matter.

Another question for the score gurus/veterans, how bad would the "rebucket" effect be when the negatives start falling off? If you look at the dates, some of them would drop off simultaneously (hopefully).

Thank you all for the replies!

[guiness56]

FICO scoring is so many different things it is not easy to predict.