Each derog, progressing from 30/60/90/120, is a separate adverse item reported to the CRA.
Each, obviously, with different dates. The FCRA prohibits the reporting of adverse late pays with the following language:
Any other adverse item of information, other than records of convictions of crimes
which antedates the report by more than seven years.
Thus, under the FCRA, any CRA may continue to report the later adverse items for up to 7 years from their adverse date. They are not required to either delete the account, or other derogs against it. I dont see any requirement that they must go back to an earlier date in the string, and thus erase a 120 late because a prior 30 late reached 7 years.
Maybe FICO might score that way, but it is not a requirement.
Message Edited by RobertEG on
06-06-2008 09:42 PM
