topic Re: Do 90 day lates have less impact on scoring after 24 months? in General Credit Topics

Do 90 day lates have less impact on scoring after 24 months?

Anonymous — Sat, 17 May 2014 18:00:25 GMT

I have a 90 day late from Sallie Mae June 2012. I am disputing it (as I was in deferment and then paid it before 90 days when realized), but heard it is hard with Sallie Mae to get satisfaction on it.

If I cannot get it removed, is it possible to get a small bump on score after the 90 day goes past the 24 month payment history timeline?

I am sure hoping so. I am stuck at 627/630 fICO

Re: Do 90 day lates have less impact on scoring after 24 months?

Revelate — Sat, 17 May 2014 18:06:04 GMT

Arguably everything has less of an impact after 2 years; however, a 90 day late is a serious derogatory: if it can be gotten off your report, the better off you'll be.

Re: Do 90 day lates have less impact on scoring after 24 months?

bigblue7722 — Sat, 17 May 2014 18:51:54 GMT

my last sallie mae 90 day plus late was oct 2012 I have like ten of them BTW. My scores are in the 680s now. Im hoping for 700 in oct of 2014

Re: Do 90 day lates have less impact on scoring after 24 months?

SomeGuyOnTheWeb — Sat, 17 May 2014 22:42:31 GMT

I was wondering this as well.

I have a 90 day late from over 4 years ago on a student loan (January 2010) that is since paid off, yet EQ/TU keep reminding me of it. It seems so odd that they'd continue to hold a four year old derogatory over my head.

Re: Do 90 day lates have less impact on scoring after 24 months?

Revelate — Sun, 18 May 2014 07:02:25 GMT

@SomeGuyOnTheWeb wrote:
I was wondering this as well.

I have a 90 day late from over 4 years ago on a student loan (January 2010) that is since paid off, yet EQ/TU keep reminding me of it. It seems so odd that they'd continue to hold a four year old derogatory over my head.

As stated, a 90+ day late is a serious derogatory, akin to a BK or tax lien if not quite the same in stature or underwriting.

Re: Do 90 day lates have less impact on scoring after 24 months?

Anonymous — Sun, 18 May 2014 15:30:29 GMT

There are a couple of different issues here.

One is that the derogatory stays on your report for a long time, and specific lenders may not like it, and deny you.

The other issue is scoring.

Derogatories have less impact over time, for example two years for a 30-day late.

If you want to try to tie this down further, you can do a Google search like:

site:myfico.com effect 90 day lates

Re: Do 90 day lates have less impact on scoring after 24 months?

Anonymous — Tue, 27 May 2014 09:17:00 GMT

SO I was able to win my dispute and Sallie Mae called Friday to state it would be deleted from the 3 CBs in 72 hours or so.

I am really hoping for an increase in score.