So Ive heard nothing back from ally financial

[Anonymous]

So my question is this, when will this account fall of my CR. I had (6) 30 day lates back in 2013. I got the loan in 06/01/2011 i paid it off in april 2015. my lat 30 day late was in november 2013. So is it 7.5 years from when i opned the account, 7.5 years from my 30 day late in novemebr 2013, or 7.5 years from april of 2015? also how bad are those 6 30 days late actually hurting me. i only have 1 other accoutn with a 30 day late on it. I was hoping to get both of hose accounts cleared up.

[RobertEG]

The exclusion of monthly delinquencies occurs no later than 7 years from their individual dates of delinquency. 

There is no single date after which all monthly delinquencies become excluded.

Exclusion at 7 years plus 180 days from DOFD only applieis to a reported charge-off or collection, not monthly delinquencies.

The last 30-late reported in 11/2013 will become excluded not later than 11/2020.

[Anonymous]

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@RobertEG wrote:

The exclusion of monthly delinquencies occurs no later than 7 years from their individual dates of delinquency. 

There is no single date after which all monthly delinquencies become excluded.

Exclusion at 7 years plus 180 days from DOFD only applieis to a reported charge-off or collection, not monthly delinquencies.

The last 30-late reported in 11/2013 will become excluded not later than 11/2020.

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when will i be able to have the trade line deleted from y CR. its my understanding that only positive accounts stay on for 10years. so with this not being a positive account wouldnt the 7.5 year rule apply? it is a close account since april of 2015

[Anonymous]

It's paid off therefore it is a positive account so 10 years.

[Bankrupt2019]

10 years from April 2015 is when the entire account will excluded.

the individual lates will be excluded at 7 years from their individual time of occurrence.

[Anonymous]

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@Bankrupt2019 wrote:

10 years from April 2015 is when the entire account will excluded.

the individual lates will be excluded at 7 years from their individual time of occurrence.

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Darn so those 30 days will be there till 2020. Im gonna have to keep emailing them. I know rhey are considered minor but i imagine they probably do a little damage. After 2017 those would be my only blemishes 😒

[Bankrupt2019]

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@Anonymous wrote:

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@Bankrupt2019 wrote:

10 years from April 2015 is when the entire account will excluded.

the individual lates will be excluded at 7 years from their individual time of occurrence.

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Darn so those 30 days will be there till 2020. Im gonna have to keep emailing them. I know rhey are considered minor but i imagine they probably do a little damage. After 2017 those would be my only blemishes 😒

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correct, unless you can get them to make a goodwill adjustment on the lates. Being that they are over 2 years old they probably arent hurting much.

[Anonymous]

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@Bankrupt2019 wrote:

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@Anonymous wrote:

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@Bankrupt2019 wrote:

10 years from April 2015 is when the entire account will excluded.

the individual lates will be excluded at 7 years from their individual time of occurrence.

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Darn so those 30 days will be there till 2020. Im gonna have to keep emailing them. I know rhey are considered minor but i imagine they probably do a little damage. After 2017 those would be my only blemishes 😒

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correct, unless you can get them to make a goodwill adjustment on the lates. Being that they are over 2 years old they probably arent hurting much.

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So in theory it will be a negitive account for 10 years because it says 30 days late 6 or more times.....or after 2020 that goes away and then it becomes a good account....so even tho the late pay,ents dont show a manual review will always show that at so,e point i was late...

[Anonymous]

Harley14 wrote:

So in theory it will be a negitive account for 10 years because it says 30 days late 6 or more times.....or after 2020 that goes away and then it becomes a good account....so even tho the late pay,ents dont show a manual review will always show that at so,e point i was late...

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Technically, it is a positive account because it wasnt a CO or it did not go to collections.  It has derogs, which are the lates.but it is still a positive.

As the lates come up on a 7 year time frame, they will roll off one by one.

An example from me:  I have a mortgage I opened in 2005.  Starting in late 2008, I had major problems and started having 30 day late, then 60, 90, 120, and it was scheduled for foreclosure.  Because of the huge backlog in foreclosures, it was stalled for awhile, and I was blessed to be able to keep it.  In mid 2009, I got a mortgage modification and have been able to keep the house and the mortgage.

As the 7 year mark rolls continuously on the account,  every month shows another late rolling off and by September 2016, they will all be eliminated.

I understand your view that if it isnt completely positive, its negative.  But in the Fico view, if it wasnt a charge off or a collections, its a positive account and it counts for 10 years.

A 30 day late is the least offensive mark and it has less effect on your scores every year. 

HTH

[Anonymous]

Got yea.