01-06-2013 01:18 PM
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?
01-06-2013 02:37 PM
01-06-2013 03:31 PM
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.
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.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO