Any ideas on what to expect

[IAhusker]

Hi all, back in '04, I went through a divorce, had some money probems, yada yada yada, that resulted in 2 charge off accounts, a collection, and 3 other revolving accounts to become up to 90 days late.  I have two other 30 day lates (each on a different account) from early 2008.  The collection is set to drop in January, and the CO's will follow suit in April.  By July, the three 90 day lates will also drop, leaving me with 2 30 day lates from 2008.  AAA is 7 years, oldest is 12 years, have a large mix of cards- currently using  about 1000 out of a combined 17,000 limit.  Also have installment loans- vehicles and student loans.  My current scores are 677 (TU) and 686 (EQ).  Is it in the realm of possibility that I could see my score jump into the 720-730 range by the end of next summer?  We are looking to build a house and want to get our financial house in order first.  My wife has a scores in the 750's, and I don't want to drag down our hopes of building with a bad score!

Thanks

[MarineVietVet]

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@IAhusker wrote:

Hi all, back in '04, I went through a divorce, had some money probems, yada yada yada, that resulted in 2 charge off accounts, a collection, and 3 other revolving accounts to become up to 90 days late.  I have two other 30 day lates (each on a different account) from early 2008.  The collection is set to drop in January, and the CO's will follow suit in April.  By July, the three 90 day lates will also drop, leaving me with 2 30 day lates from 2008.  AAA is 7 years, oldest is 12 years, have a large mix of cards- currently using  about 1000 out of a combined 17,000 limit.  Also have installment loans- vehicles and student loans.  My current scores are 677 (TU) and 686 (EQ).  Is it in the realm of possibility that I could see my score jump into the 720-730 range by the end of next summer?  We are looking to build a house and want to get our financial house in order first.  My wife has a scores in the 750's, and I don't want to drag down our hopes of building with a bad score!

Thanks

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Hello and welcome to the forums.

If all goes as planned and those derogatories do drop off you should see a nice bump but exactly how much is impossible to say because there are many factors involved and everyone's situation is different.

Just keep paying everything on time and keep your utilization low. Those 30 day lates after several years may/should be losing their initial negative impact but even that is hard to know.

Let us know what happens to your score as each of those drops off.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

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[RobertEG]

First make sure you are calculatng the expected drop off dates correctly.

List each individual monlthly OC account delinquency, and the date it occured.  Each drops separately after 7 years from its individual delinquency date.

That includes the accounts that were charged off or placed into collection.

For example, drop of three 90-day lates in July 2011 would mean that each occured in July 2004. 

If your financial woes began in 2004, I would particularly double-check the expected fall of date of the CA and the two COs.

For the CA to have a fall-off date of 1/2011, that would mean the DOFD on the OC account was back in 7/2003.

For the COs to have a fall-off date of 4/2011, that would mean a DOFD on each OC account of 10/2003.

Do your records, or your CR, reflect such DOFDs?