When does a paid, previously delinquent account drop off a report?

[KneelBeforeZod]

When I was younger (and stupid), I bought a car that I could not afford and the bank actually gave me the loan.  While I eventually paid the entire loan off, I racked up a number of 30 and 60 day delinquencies in the process due to an unexpected illness.  While the bank was very flexible with me taking this into account, it game at a great cost of bad items being posted to my credit report.  I take full responsibility for my past actions, my situation, and make no excuses or whines for it.

I paid the account off in April of 2011.  The following is a snippet of the lates.  The account was originally opened in November of 2004.

30 days late - 24 times

60 days late - (march 2011, Feb 2011, Jan 2011)

90 days late - 0 times.

With the account being Paid and Closed, is there a timeframe at which this either drops off my credit report, or the old delinquent activity falls off?  Since my last late was March of 2011, does this mean that the account will drop off after March of 2018?  Do each month's payments fall off as each month passes by? 

Amazingly, I've watched by credit score increase from about 520 at the time of this being paid off to over 640 across the board.

In closing, thank you to everyone whom takes their time to post to this board.  Without the help I've received through these posts, I would not have been able to boost my credit score over 120 points in the last few years.  Your feedback and guidance is appreciated.

[pizzadude]

Each late payment should disappear at ~7years from the date it occured.    If the account was CO'd went to collections then it should drop ~7.5yrs from the DOFD ( date of first deliquency ), which is the first date the account became late without ever becoming current again.

[Shogun]

Judging by what you have posted.  The lates will fall off 7 years from the date of their individual occurrence.  The good news is, 30 day lates are minor derogs, and lose their "sting" over a period of time.  The bad news is, there's a lot of them.  

When the last one falls off, it will be a totally positive TL and will continue to stay on your CR and add to the AAoA of the account for about 10 years from the date shown.

[KneelBeforeZod]

pizzadude and shogun,

My thanks to both of you for your insight and fast reply on this item.  It is greatly appreciated in understanding how this will affect me going forward (since I did a pretty good job of shooting myself in the foot).

I wonder if I'll ever be able to buy a house.  Even though my scores borderline qualify for a mortgage, I feel extremely toxic.  I've been able to bounce back and add new tradelines, and ensure they follow all of the sterling rules that FICO seems to need for score optimization.

I guess time heals...it just sucks I have alot of it to wait.

[DaBears]

You can always send GW letters for the 30 day lates. It never hurts to try to remove some of them. You can get 100 no's but it takes 1 yes  Keep making on time payments on your cards keep your util % low and you will be fine. When I joined myFICO back in Oct of 12' Guiness, Shogun, RobertEG, llecs and a few others have shown me the way. As of today, I only have one paid charge off showing and a BK 7 from 2004. 7 positive trade lines showing and only 2 somewhat negatives. This is a great community and great posters in here that have a tremendous amount of knowledge for one another. I left Facebook and now call this place my second home 

Community Leader, 

DaBears

[KneelBeforeZod]

Thanks for the inspirational comments DaBears.

If there is one thing, it's that I'm persistent when it comes to bringing a good fight out.  I haven't had any luck so far with GW adjustments thus far.  You'd think Ally bank would be somewhat flexible given I stayed in contact with them - not to mention that our tax dollars bailed their butts out.    The collection companies certainly don't want to delete crap or do a GW adjustment.  The days of PDF are certainly dead from what I can see.

The silver lining - I can use this sideline time to continue to let my savings grow for a larger downpayment on a house.   In the meantime, I'll be grateful I live in a nice apartment with central air, and my wife and little girl are healthy, and a good steady job with good pay.  I know I'll definitely get through this - it's just crawling in a hole somewhere for a bit that is the crappy part about it.

God...if I knew then what I know now, I'd be like Kobe in a hotel room in Colorado...UNSTOPPABLE.