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I have four student loans with a total of 9 90/120 lates each. They are due to start dropping off this October. So can I assume that my score will go up each month that they drop off?
That's it....4 tradelines with these lates.......
IMO, you probably won't start seeing gains until the last one deletes. FICO zeros in on the most recent and the most severe.
Does FICO make much of a distinction with > 30 day lates? I have 3x 30 day lates on two accounts.
So am I to assume that I won't see much gain until the last 120 late drops off?
30 day lates count for something but much less and as time goes by they matter even less...
It depends on frquency thickness of file etc. And how old they are. Some lenders may not care. I was approved for a csp, discover it, batclaus walmart with a 60 date less than a month old. And car loan. Amex denied me not bc of late but recent auto loan. But my utility was low. So sometimes its ymmv and I did havr 30 accounts no lates with one with a late and 10 active accounts it helped. I assume at 6 month point with low utility ill get into 700s and these new accounts hit 6 month.
@whodatnation2 wrote:I have four student loans with a total of 9 90/120 lates each. They are due to start dropping off this October. So can I assume that my score will go up each month that they drop off?
I have the exact same thing on my report. I can tell you from my experience what happened...if the lates are stacked back to back most likely they will all disappear at once. That happened to me on both Experian and Equifax. TU they fell off one month at a time. My were old enough such that the score bump wasn't significant. Like people say the older the gets the less effect it has. Of course if these are your only baddies you could see another score change from being rebucketed.
were they 90 and 120 lates......