@watch44 wrote:I'm confused on the SOL on baddies. I don't have any charged off accounts so I can't use the DOFD, correct? I eventually got on a payment plan with all my delinquent accounts, and they were all paid in full and closed with a 0 balance. So when would something like that fall off someone's report? Do they use the date of the first late payment or the date when the account caught up?
So looking at the below account, the first baddie is on Jul 2007 and the last baddie is May2008. When does this baddie fall off?
(FYI, this report may be disputable since I started paying again in Dec '08, and that was why it didn't get charged off. I wasn't late 330 days as this seems to suggest.)
Don't confuse SOL with CRTP. SOL is a state statute of suing, CRTP is a federal rule for how long something can report.
You are correct. If the account was not CO'd or sent to collections, there is no DoFD reported. What makes the account negative are the late payments. Those accounts will not be exluded from your CR. They will remain and each late will be removed 7 years from occurence. When the last one is removed, the account becomes positive again and will stay for up to 10 years (+/-).
Even on accounts that have been CO'd or sent to collections, only the negative annotations are removed at the end of the CRTP. It would be up to the creditor to remove the entire TL.
@guiness56 wrote:Don't confuse SOL with CRTP. SOL is a state statute of suing, CRTP is a federal rule for how long something can report.
You are correct. If the account was not CO'd or sent to collections, there is no DoFD reported. What makes the account negative are the late payments. Those accounts will not be exluded from your CR. They will remain and each late will be removed 7 years from occurence. When the last one is removed, the account becomes positive again and will stay for up to 10 years (+/-).
Even on accounts that have been CO'd or sent to collections, only the negative annotations are removed at the end of the CRTP. It would be up to the creditor to remove the entire TL.
Thanks for the clarification, guiness56. I initially thought that was how it would work until I started reading about DoFD's and confused myself. 
@watch44 wrote:Well, just put in an app for a NavyFed Visa Signature Flagship. I'll get a reply in 3-5 days. I did it because many on this forum said that they usually give counter-offers so it's ok to go for broke with them.
Timeline:
9/22/13 - TransUnion free report - 2 INQ (Barclays, Cap1), 7 neg accts, 35 baddies (30-120 late), 0 revolving
9/22/13 - Equifax free report - 2 INQ (NFCU, Cap1), 6 neg accts, 34 baddies (30-120 late), 0 revolving
9/21/13 - NFCU Visa Signature Flagship (EQ HP) PENDING
9/21/13 - TU FAKO 730 - 2 INQ (Barclays, Cap1), 2 baddies (delinquent), 0 revolving
9/18/13 - CapitalOne Classic Platinum (EQ,TU,EX HP) APPROVED, 3000 CL
9/07/13 - Barclaycard Ring (TU HP) DENIED, TU FICO 680
7/01/13 - EQ FICO 714 - 0 INQ, 7 negs (120 late), 0 revolving
*fingers crossed*
Got a text this morning. Damn, gotta update the signature again... mo' credit, mo' problems. 
Seriously, a gazillion thanks to the posters on this thread and this forum. I wouldn't have dreamed of appying for a card like this after 5 years of wandering in the cash-only wilderness. I don't know my CL or APR right now, but I'll update as soon as I find out. And once again, I'm off to the garden!
@[Update: Initial CL of $5,000 @ 13.49% APR. NFCU is doing me a solid, so I'm going to return the favor by changing my direct deposit over to them this week. It only took me 16 years to figure it out, but membership DOES have its benefits. What can I say? I'm not the sharpest bulb in the tool box.]