Frequent Contributor
Posts: 395
Registered: ‎04-02-2012

Days late on the damage to credit scores

I think the only thing holding back my credit score now are my late payments to my student loans.  Particulary Sallie Mae as I have several 120 days late showing on my credit from 2011.  Come this October 1, the will all be over a year old.  

Does anyone know how long this damage affects your credit score.  I know after a year it should be less of an affect, but not sure with student loans.  My current scores are between 650-696 depending on the bureau.  I'm trying my darnest to get over 720.

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Senior Contributor
Posts: 4,336
Registered: ‎09-06-2008

Re: Days late on the damage to credit scores

Those are considered major derogatories, & will probably hurt for the entire time that they are on your reports.  I believe the effect will be somewhat lessened after the 1st 2 years, but they will still be costing you points, especially since you said you have several of them.  It is very unfortunate that they are fairly recent.

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