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When will negative drop off report? Opened or reported?

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avv7c0
Regular Contributor
‎07-06-2014 02:48 PM
‎07-06-2014 02:48 PM

When will negative drop off report? Opened or reported?

My wife has a 120-late (settled) on her report. Account was opened 8/1/07, last reported as settled/paid on 12/1/08. Will this drop off next month or in December of next year?
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Fico Scores:
EQ - 811 (Feb '14)
TU - 829 (Mar '14)
EX - 814 (Mar '12) - Lender Pull
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Shogun
Moderator Emeritus
‎07-06-2014 03:34 PM
‎07-06-2014 03:34 PM

Re: When will negative drop off report? Opened or reported?

Best answer?  Somewhere inbetween.  Reasoning, neither of those sets the clock for the CRTP, ie. date opened or date settled.  It's the date that the debt first went into arrears and wasn't brought current.  So, it would be a date somewhere in between those 2 dates.

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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avv7c0
Regular Contributor
‎07-06-2014 04:52 PM
‎07-06-2014 04:52 PM

Re: When will negative drop off report? Opened or reported?

Got it. So it shows her first 30 day late in Feb '08. I guess that's what we'll look forward to.

She got really burned by an ex who convinced her to joint sign on a motorcycle loan after which he wrecked it and then skipped town. We tried to GW it last year, but they said too bad since it was joint. She's the one who paid off the jerk's debt, and still hasn't seen a cent from it. Spotless credit otherwise. Sigh, almost behind her though.

Thanks for your response!
----------------------------------------------------------
Fico Scores:
EQ - 811 (Feb '14)
TU - 829 (Mar '14)
EX - 814 (Mar '12) - Lender Pull
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edcb
Contributor
‎07-06-2014 06:02 PM
‎07-06-2014 06:02 PM

Re: When will negative drop off report? Opened or reported?

Bad boyfriends always convince you to buy them a motorcycle.  Next man I see who wants a motorcycle...I'm running away.

In the garden until October 2015!

Journey began 12/13
My wallet: Cap1 Journey (12/13) $4,800 - Cap1 QS (3/14) $1,500 - Chase Freedom (5/14) $3,000 - Chase CSP (12/14) $8,000

Closed on my primary home and income property in December 2014!
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Shogun
Moderator Emeritus
‎07-07-2014 06:36 AM
‎07-07-2014 06:36 AM

Re: When will negative drop off report? Opened or reported?

@edcb wrote:

Bad boyfriends always convince you to buy them a motorcycle.  Next man I see who wants a motorcycle...I'm running away.

lol!

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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