I am still learning, and love this website! So, am currently in the process of trying the whole goodwill thing with some of my credit card companies. If they indeed goodwill any of these late pays (all about 1.5 years old) will I see an increase in my score? Does anyone know aprox. how much having just a single 30 day late pay will effect the score? Keep in mind I have about 5 accounts with 30-120 day lates due to a divorce/hardship. And any luck having 90 days removed by goodwill letters/calls?? Or is that totally out of the quesion?
A single 30 day late will impact your score when it is missed but you recover fairly quickly from it. It will impact your score for around 2 years but fades with time. The same for a 60 day late. Both 30 and 60 are considered minor derogatories.
A 90+ late is a major derogatory and will have a much worse impact on your score and though they fade over time, will impact your score for nearly 7 years.