Another FICO score question

[Steelersfan904]

Okay so my last collection dropped off my account. Brought my score up to 607 right now. Under myfico it says I missed or had a derogatory payment 3 months ago....I am trying to figure out how. I have my child support accounts which are not factoring in, Sallie Mae who just recently updated my equifax to show paid as agreed from June 2007 to JUne 2012 even though it was sold/transferred in June 2007. But my old repo from 2007 is reporting me 90+days late 47 times? Is this possible? Can they update every month like that? I am confused and trying to get a grasp on myfico. Any help would be appreciated

[bettercreditguy1]

They can continue to report you late as long as you are late/behind. Even if you get caught up on your payments, your credit report will still show all of those montly periods where you were late for seven years or seven years and six months.

[RobertEG]

In the normal reporting process, particularly among larger creditors, computerized monthly reporting traditionally includes a repetition of most, if not all, of the current codes for each reported item of information, even if no chnges are being reported.  The repetitious reporting of a 60-late current status would only mean that the account continues at that same delinquency status.

It does not mean they are reporting an additional 60-late.

[bettercreditguy1]

Also, some cras summarize the total number of times you were late over the last seven years by category, 30, 60, 90, etc.

[Steelersfan904]

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@RobertEG wrote:

In the normal reporting process, particularly among larger creditors, computerized monthly reporting traditionally includes a repetition of most, if not all, of the current codes for each reported item of information, even if no chnges are being reported.  The repetitious reporting of a 60-late current status would only mean that the account continues at that same delinquency status.

It does not mean they are reporting an additional 60-late.

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Okay that makes sense I was just really confused when I saw this

You recently missed a payment or had a derogatory indicator reported on your credit report.

Your most recent late payment happened3 Months ago

I was just really confused because 3 months ago I didnt have any open TL at all. So it is either taking into account my child support which I thought its not supposed to be doing or my charge off auto loan, which it says in March 2012 I was 90+days late