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Major Derogs Question

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Contributor

Major Derogs Question

I have a student loan that in 2010 reported every month as 120 days late for four months. If all the lates are on one account are they scored as one or counted as multiple lates? Am I dinged every month like it was a new late posting?

Starting 8/12 EQ- 522, TU 542. Current 5/14 EQ-664 TU-686 EX-unk
Goal to keep building up my credit.
Message 1 of 4
3 REPLIES
Super Contributor

Re: Major Derogs Question

Each late is counted individually even though they occurred on the same tradeline.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 4
Contributor

Re: Major Derogs Question

That StinksSmiley Sad

Starting 8/12 EQ- 522, TU 542. Current 5/14 EQ-664 TU-686 EX-unk
Goal to keep building up my credit.
Message 3 of 4
Super Contributor

Re: Major Derogs Question

Yeah. But the FICO score ding isn't the same for each derog.....the first late will most likely hurt your score more than subsequent lates.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 4