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gramps1968
Posts: 58
Registered: ‎06-08-2007
Potentially negative item on my Experian report.

‎10-08-2012 09:34 AM

I recently checked my Experian report and noticed that my Wells Fargo morgage is listed under the "potentially negative" category on the report. I had 30 day late payments in Aug. and Sept. 2011 and all my payments have been good since then. How many more on time payments need to be made before this item is returned to the good section of my credit report?
04/08/2013 TU 659 EQ 661

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llecs
Posts: 31,961
Registered: ‎08-04-2007
Re: Potentially negative item on my Experian report.

‎10-08-2012 10:25 AM

It should stay there for as long as those lates report. IMO, ignore Experian's classifications. Sometimes they have been inaccurate for me (e.g. says an account is good but FICO sees it as bad).

 

Per FICO scoring, those 30-day lates damage will fade over time and within 2 years or so from that date, FICO will largely stop scoring them.

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Shogun
Posts: 7,646
Registered: ‎04-15-2011
Re: Potentially negative item on my Experian report.

‎10-08-2012 10:27 AM

It will stay in the bad section until those lates are off.  They fall off naturally 7 years from their respective dates or you can try and GW them off.

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Shogun
Posts: 7,646
Registered: ‎04-15-2011
Re: Potentially negative item on my Experian report.

‎10-08-2012 10:27 AM

Side note.   llecs is outtyping me this morning.   :smileyhappy:

Starting Score: 504

Current Score: EQ FICO 819, TU08 778, EX "Who Knows?" Quizzle 756
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