Thoughts about missed payments

Googler89 · ‎11-22-2014

So I have a couple of missed payments on my credit file. Only 1-2 have been in the last two years. Come January those will be two years old themselves.

My question is... I was going to send GW letters out, should I send them to those creditors where I have missed payments from several years ago? Would that benefit my score, or be a waste of time?

I fell off the bandwagon 4 years ago during Nursing School, but jump back aboard as soon as I could. In your opinions (I know nothing is set in stone), what would you recommend?

Starting Score: (EQ 590)-(TU 625)-(EX 606) 9/2014
Current Score: (EQ 599)-(TU 647)-(EX 617) 11/2014
ST Goal Score: (EQ 640)-(TU 670)-(EX 650)
LT Goal Score: 750

MarineVietVet · ‎11-22-2014

@Googler89 wrote:
So I have a couple of missed payments on my credit file. Only 1-2 have been in the last two years. Come January those will be two years old themselves.

My question is... I was going to send GW letters out, should I send them to those creditors where I have missed payments from several years ago? Would that benefit my score, or be a waste of time?

I fell off the bandwagon 4 years ago during Nursing School, but jump back aboard as soon as I could. In your opinions (I know nothing is set in stone), what would you recommend?

Hello and welcome to myFICO.

It's never a waste of time to try and have negatives removed. All the creditor can do is say no but you have to ask first.

What are the exact dates and severity (30, 60, 90 days, etc.) of the lates?

Googler89 · ‎11-24-2014

Capital One:

30day- 2/2013

60day- 8/2012

30day- 7/2012

TARGET:

120day- 1/2012

120day- 2/2012

30day- 7/2012

30day- 8/2012

20day- 9/2012

I also have 4 paid CO accounts I thought about trying to get off my credit too.

Starting Score: (EQ 590)-(TU 625)-(EX 606) 9/2014
Current Score: (EQ 599)-(TU 647)-(EX 617) 11/2014
ST Goal Score: (EQ 640)-(TU 670)-(EX 650)
LT Goal Score: 750

MarineVietVet · ‎11-24-2014

@Googler89 wrote:
Capital One:
30day- 2/2013
30day- 2/2013
60day- 8/2012
30day- 7/2012

TARGET:
120day- 1/2012
120day- 2/2012
30day- 7/2012
30day- 8/2012
20day- 9/2012

I also have 4 paid CO accounts I thought about trying to get off my credit too.

FICO scores not only the severity and recency of negatives but also looks at how many are reporting at the same time. A single 30 day late will lose much if not most of it's impact after 1-2 years but combined with the other lates that rule of thumb somewhat changes.

My suggestion is to make removal of the CO's and the 120 day lates your first priority because they are hurting the most.