Understanding FICO® Scoring

[buckeyelady84]

My Fico scores are currently EQ 555 and TU 569. I have 4 charge-offs aging off this year.  I am hoping for a large score boost. I have paid my SL, CC, and car loan on time  all 2012. I opened the car loan and CC in Jan 2012.  I am working on removing 2011 medical debts-Paid. Any guesses on my score boost? My SL have been current for 2  yrs.             

I have 120 day lates before 2010 on SL. How much are these hurting me?

[pizzadude]

The 120 day lates are certainly hurting your FICO® score, but it's hard to predict how much your score will improve after the CO accounts fall off. I would recommend sending GW requests on all of your lates if you haven't already.

[JM-AM]

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pizzadude wrote:
The 120 day lates are certainly hurting your FICO® score, but it's hard to predict how much your score will improve after the CO accounts fall off. I would recommend sending GW requests on all of your lates if you haven't already.

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+1 

120 day lates are a major negative that can take 5-7 years before you notice much score improvement from those late payments.

Also agree its hard to predict since you have other major negatives still on your reports.