Rebuilding Your Credit

[jeffery581]

How long do lates report? I had a card that was late in 2006 ( 30+60+90+120). It was paid to zero and closed a month after it ws paid.

How long will this be on my report? 5 years or 10?

[webhopper]

It will fall off next year. I have lates from 2006 that will fall off as well. The rule is 7.5 years from the date when you were first delinquent on payment.

[LS2982]

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jeffery581 wrote:

How long do lates report? I had a card that was late in 2006 ( 30+60+90+120). It was paid to zero and closed a month after it ws paid.

How long will this be on my report? 5 years or 10?

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About 7 - 7 1/2 years then they drop off. So mid-late 2013 they should fall off for you.

[kjm79]

Just to clarify, the lates will start falling off 7-7.5 years and since the account wasn't charged off, the account should turn to a postive account and then continue to report for ~10 years from the date of closure. 

I assume it wasn't charged off by your statement that it went 120 days late, you paid it and then they closed it.  It if was in fact charged off, then the entire account will fall off in 7-7.5 years. 

[MarineVietVet]

To clairy a bit of confusion late payments can report no longer than 7 years from each individual date of delinquency. The 7.5 year CRTP is for collections and charge offs.

[jeffery581]

Why was my post moved? It is regarding a credit card.

[MarineVietVet]

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jeffery581 wrote:

Why was my post moved? It is regarding a credit card.

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Because it was more about the lates being removed than the card itself.

[jeffery581]

OK well I see other post regarding lates are in the credit card section. 

[jeffery581]

Just delete my account. I am tired of being messed with by marinevet.

[llecs]

Any moderator would have moved it to Rebuilding Your Credit. The CC board is geared towards apping for, using, or getting the most out of your current and open CCs. These would include discussions on AFs, rewards, apps, CLIs, current reporting, card offerings, and so forth. The RYC board are for those who want to repair what's already reporting like removing old lates, TL stati, baddie removals, and others.

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jeffery581 wrote:

OK well I see other post regarding lates are in the credit card section. 

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If you do see others it's possible we missed some or haven't seen them yet. We'll often get alerted by other posters who click the "Options" link and then "Report Inappropriate Content". The Content might be OK, but mods do get alerted if it needs to be moved.