a 120 late

[Anonymous]

how bad does a 120 late hurt your credit? i have a 120 from 13 months ago and was just curious.

[pizzadude]

It's considered a major derogatory so it will make a significant hit on your FICO score.   

[RobertEG]

+1

And if the delinquency status remains at that level, a charge-off may soon be coming.

[Anonymous]

well the account was paid in full last feb and reported as 120 then closed in march so i am waiting on results of a dispute to hopefully remove to 120 late. it was an installment sales contract.

[RobertEG]

Its a major derog, and well worth the effort to purse a GW deletion.

[sooner63]

At what point does a 120 late lose impact on your score?

[pizzadude]

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@sooner63 wrote:
At what point does a 120 late lose impact on your score?

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Not until it falls off your report.       It is a major derogatory and will likely hurt your FICO score until it goes away.

[MarineVietVet]

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@pizzadude wrote:

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@sooner63 wrote:
At what point does a 120 late lose impact on your score?

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Not until it falls off your report.       It is a major derogatory and will likely hurt your FICO score until it goes away.

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I agree. A 120 day late is one of the "biggies" and although all negatives will lose impact as time goes by this will hurt the entire reporting period.