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kaymom
Posts: 94
Registered: ‎03-12-2012
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Current Status of an Account

Goodmorning Forum,

 

I have a couple accounts that are listed under accounts on myFICO CR that has current status 120 days past due. These accounts were paid a few years ago. Does this have an effect on my scores?

A Fresh Start
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Posts: 2,634
Registered: ‎06-05-2008
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Re: Current Status of an Account


kaymom wrote:

Goodmorning Forum,

 

I have a couple accounts that are listed under accounts on myFICO CR that has current status 120 days past due. These accounts were paid a few years ago. Does this have an effect on my scores?


Yes.  Depending on how recent, the effects could be severe to moderate to low.  But until the last late ages off, it will hurt your score.

  8-12-14: FICO EXP: 797 - EQU: 734 - TRAN: 739 - AVG: 757 - +207 points from JUN 2008 - MY CREDIT JOURNAL

Contributor
kaymom
Posts: 94
Registered: ‎03-12-2012
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Re: Current Status of an Account

It has been a couple of years ago. Instead of the account status showing paid/closed or paying as agreed, it shows 120+ days late. Is that something I should be concerned about?

A Fresh Start
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Registered: ‎06-05-2008
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Re: Current Status of an Account

[ Edited ]

kaymom wrote:

It has been a couple of years ago. Instead of the account status showing paid/closed or paying as agreed, it shows 120+ days late. Is that something I should be concerned about?


Yes.  120+ days late means you went 4 months withouit making a payment.  someone else thinking about loaning you money will look at that and say "she goes 4 months without making payments?  Not with my money".

 

If it doesn't show as paid/closed, I would think you have reasonable grounds for dispute, assuming they are paid.

  8-12-14: FICO EXP: 797 - EQU: 734 - TRAN: 739 - AVG: 757 - +207 points from JUN 2008 - MY CREDIT JOURNAL

Contributor
kaymom
Posts: 94
Registered: ‎03-12-2012
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Re: Current Status of an Account

That's what I figured. It only shows under the CR section of myFICO. When I click on dispute information in CR, the status shows something differently. It shows paid. I'm confused.

A Fresh Start
Valued Contributor
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Posts: 2,634
Registered: ‎06-05-2008
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Re: Current Status of an Account


kaymom wrote:

That's what I figured. It only shows under the CR section of myFICO. When I click on dispute information in CR, the status shows something differently. It shows paid. I'm confused.


Right.  Lates don't go away just because you paid.  Basically, your report says "she went like 4 months without paying us, but she finally did pay us".  If that's what really happened, then your report is accurate and you have no grounds for dispute.  What you can try is contacting them, explaining and pleading until you get them to delete the lates. Very hard to do, takes a ton of persistence, but well worth the effort.

 

See, even though you did eventually pay, you went a long time without making a payment.  If a potential lender sees this, they assume you might do this to them as well.  So, they group you with subprime borrowers, and either charge outlandish interest rates and fees to offset the high default rate, or don't loan to you at all.  

Read everything you can on here with the tag "goodwill success".

 

Good luck!

  8-12-14: FICO EXP: 797 - EQU: 734 - TRAN: 739 - AVG: 757 - +207 points from JUN 2008 - MY CREDIT JOURNAL


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