topic Re: Negative Indicators (Ugly Red Flags) in General Credit Topics

Negative Indicators (Ugly Red Flags)

VirtualCuriosity — Thu, 27 Feb 2014 03:41:35 GMT

I understand the Negative Indicator Flags, but what determines when they go away? What I mean is, I have an older account with several lates from 6 years ago. The status shows 60 days past due, yet there is no Negative Indicator flag on the account.

Re: Negative Indicators (Ugly Red Flags)

bobbay — Thu, 27 Feb 2014 13:57:57 GMT

I think 30 & 60 day lates stop counting after 4 years. Someone can correct me if I am wrong.

Re: Negative Indicators (Ugly Red Flags)

KellyP25721 — Fri, 28 Feb 2014 19:40:54 GMT

I know the effect of a late payment diminishes over time but I haven't been able to get a solid answer as to the timing.

Re: Negative Indicators (Ugly Red Flags)

KellyP25721 — Sat, 01 Mar 2014 16:52:31 GMT

Does anybody know the answer to this?

Re: Negative Indicators (Ugly Red Flags)

VirtualCuriosity — Sat, 01 Mar 2014 22:28:51 GMT

I did find something else interesting. I just disputed a major delinquency from 5 years ago with a mortgage company and they agreed and changed the status from current/was120 days past due (was in process of modification) to current/was 90 days past due. I now have the negative indicator flag on the account when there wasn't beforehand. Oh well

Re: Negative Indicators (Ugly Red Flags)

bettercreditguy1 — Sun, 02 Mar 2014 15:56:49 GMT

Although all lates diminish with time, a 90 or over late will effect your score through the entire period from 7 years to 7.5 years. I can tell you that I have serveral (4) 30's, 1(60), 1 (90) and 1 (120) on one account, all others accounts never late. This account was pif and shows "good standing/paid as agreed" in the comment section. My TU score increased 5 points on the 5th aniversary after the DOFD. Under derogs the report states "you have a major derog which is holding your score down. Continuing to make payments on time will continue to approve your score." Hope this helps.