topic Re: Baddies and Lates in General Credit Topics

Baddies and Lates

gtnitright — Tue, 10 Jun 2014 15:29:40 GMT

Do baddies and lates age to where they don't hurt your credit as bad if you've been paying everything else on time for last couple years?

Re: Baddies and Lates

Revelate — Tue, 10 Jun 2014 15:36:25 GMT

@gtnitright wrote:
Do baddies and lates age to where they don't hurt your credit as bad if you've been paying everything else on time for last couple years?

Yes, but they also tend to factor into bucketing decisions and every bucket has a min and a max score (of some level) and as such individuals with various types of derogatories may reach a point where the score no longer increases with time passing even after the derogatory has lost most of it's punch from a scoring perspective.

Re: Baddies and Lates

EW800 — Tue, 10 Jun 2014 17:56:28 GMT

My experience is that Revelate is dead on. In my case, I have some real baddies from 18-24 months ago, however since then I have made every payment on time, and paid down UTIL big time. As a result, I have seen a very nice rebound in scores as time has passed (see below), however I am sure that I will stuck at or close to where I am at now as long as the baddies continue to show. Recently good behavior definitely seems to at least help.

Re: Baddies and Lates

tonyjones — Tue, 10 Jun 2014 19:25:43 GMT

@EW800 wrote:
My experience is that Revelate is dead on. In my case, I have some real baddies from 18-24 months ago, however since then I have made every payment on time, and paid down UTIL big time. As a result, I have seen a very nice rebound in scores as time has passed (see below), however I am sure that I will stuck at or close to where I am at now as long as the baddies continue to show. Recently good behavior definitely seems to at least help.

Very good to hear, I have a few baddies also currently which are coming off in 2015/2016. They are like pests won't go away lol

Re: Baddies and Lates

TheConductor — Tue, 10 Jun 2014 21:29:01 GMT

I too have experienced the "bucket cap" Revelate alludes to.

In my case, I have an impeccable payment record since 2010, but a charge-off from that year with C1 seems to keep me in the just-under-700 range.

I am hoping my latest GW attempt with them will find a sympathetic response. It seems the last baddie is always the hardest.

Re: Baddies and Lates

EW800 — Tue, 10 Jun 2014 22:39:59 GMT

I am so curious what the max score is that I can achieve, based on my ugly past. I have a foreclosure and CC settlement that I went through less than two years ago. My scores have rebounded quicker than I thought they would. For the most part I am close to 700 or over 700 across the board, which I did not even dream would be possible at this stage of the rebuilding game. I am very curios about what I can get up to in say another year or two of paying everything on time and keeping UTIL low. I'd live to see 720's, but not sure how realistic that is.

The exception to my scores below is that my EQ 04 model is at 675 as of about a month ago. I suspect that the 04 model is judging my ugly past a bit harsher.

Re: Baddies and Lates

Miscellamy — Tue, 10 Jun 2014 22:47:54 GMT

I'm also curious -- do you think that a four year-old serious derog. would still have an impact on scoring and/or bucketing? As in, would it be realistic to anticipate some kind of bump if that account were removed?

(This is strictly hypothetical at this point, but I seem to be making some headway in my dispute over the one serious baddie in my file, a 90-day late from 2010. And about time -- the creditor has no record of it, and it's not my SSN on the account. I do have a closed account with that creditor, which is reported separately. Sheesh!)

Re: Baddies and Lates

EW800 — Tue, 10 Jun 2014 22:56:55 GMT

@Miscellamy wrote:
I'm also curious -- do you think that a four year-old serious derog. would still have an impact on scoring and/or bucketing? As in, would it be realistic to anticipate some kind of bump if that account were removed?

(This is strictly hypothetical at this point, but I seem to be making some headway in my dispute over the one serious baddie in my file, a 90-day late from 2010. And about time -- the creditor has no record of it, and it's not my SSN on the account. I do have a closed account with that creditor, which is reported separately. Sheesh!)

You will likely get a much better answer from some of our experts within this forum, however from all that I have read up on, serious derogs such as 90+ day lates, BK, foreclosure, collections and so on do impact the score the entire time they are on the report, however less and less over time. Within that being the case, I would think that if you could get the 90 day late removed, you would see an increase in points. I would hope that a 90 day late from four years ago would not have that big of an impact, however I bet there are some folks out there that would know for sure!

Re: Baddies and Lates

Revelate — Wed, 11 Jun 2014 05:32:03 GMT

@EW800 wrote:
@Miscellamy wrote:
I'm also curious -- do you think that a four year-old serious derog. would still have an impact on scoring and/or bucketing? As in, would it be realistic to anticipate some kind of bump if that account were removed?

(This is strictly hypothetical at this point, but I seem to be making some headway in my dispute over the one serious baddie in my file, a 90-day late from 2010. And about time -- the creditor has no record of it, and it's not my SSN on the account. I do have a closed account with that creditor, which is reported separately. Sheesh!)
You will likely get a much better answer from some of our experts within this forum, however from all that I have read up on, serious derogs such as 90+ day lates, BK, foreclosure, collections and so on do impact the score the entire time they are on the report, however less and less over time. Within that being the case, I would think that if you could get the 90 day late removed, you would see an increase in points. I would hope that a 90 day late from four years ago would not have that big of an impact, however I bet there are some folks out there that would know for sure!

The problem with this (and to answer your other question) is a serious derogatory puts you into a dirty and therefore ugly bucket.

A late might be different in some respects than something like a tax lien or judgement or similar public record, but in my case with a tax lien still on the reports (and to be complete, a collection and a 30/60 day late) I'm estimating my scores are going to max out something like this:

FICO '04: 700

FICO 8: 720-730

Unfortunately I'm pretty close to these now (once I stop fiddling with my balances and tradlines testing various minutiae), and likely going to remain that way until 2018 when I get a clean sheet. At this point I'm just sitting on my hands, racking up payment history, and not doing anything stupid. There's a very good chance I go straight to 800 on the FICO 8 model (and hopefully a 760 on FICO '04 though I have my doubts on this one) when I finally have my last derogatory fall of, that's my goal at any rate.

Re: Baddies and Lates

takeshi74 — Wed, 11 Jun 2014 12:18:22 GMT

@gtnitright wrote:
Do baddies and lates age to where they don't hurt your credit as bad if you've been paying everything else on time for last couple years?

Impact is reduced over time but I wouldn't say it's necessarily to the point where it's as if they never existed. Always get your derogs addressed as they tend to hold one back. Visit the Rebuilding subforum.

Re: Baddies and Lates

New_Beginning — Thu, 07 Aug 2014 18:15:00 GMT

@Revelate wrote:
@EW800 wrote:
@Miscellamy wrote:
I'm also curious -- do you think that a four year-old serious derog. would still have an impact on scoring and/or bucketing? As in, would it be realistic to anticipate some kind of bump if that account were removed?

(This is strictly hypothetical at this point, but I seem to be making some headway in my dispute over the one serious baddie in my file, a 90-day late from 2010. And about time -- the creditor has no record of it, and it's not my SSN on the account. I do have a closed account with that creditor, which is reported separately. Sheesh!)
You will likely get a much better answer from some of our experts within this forum, however from all that I have read up on, serious derogs such as 90+ day lates, BK, foreclosure, collections and so on do impact the score the entire time they are on the report, however less and less over time. Within that being the case, I would think that if you could get the 90 day late removed, you would see an increase in points. I would hope that a 90 day late from four years ago would not have that big of an impact, however I bet there are some folks out there that would know for sure!

The problem with this (and to answer your other question) is a serious derogatory puts you into a dirty and therefore ugly bucket.

A late might be different in some respects than something like a tax lien or judgement or similar public record, but in my case with a tax lien still on the reports (and to be complete, a collection and a 30/60 day late) I'm estimating my scores are going to max out something like this:

FICO '04: 700
FICO 8: 720-730

Unfortunately I'm pretty close to these now (once I stop fiddling with my balances and tradlines testing various minutiae), and likely going to remain that way until 2018 when I get a clean sheet. At this point I'm just sitting on my hands, racking up payment history, and not doing anything stupid. There's a very good chance I go straight to 800 on the FICO 8 model (and hopefully a 760 on FICO '04 though I have my doubts on this one) when I finally have my last derogatory fall of, that's my goal at any rate.

So is there a chart someone where that helps you figure out what bucket you are in? I would be curious to see what bucket I am in where I will basically plateau once I get the last 3 CO off. One left to fall off this year the others to fall off in 2018, the rest is just old lates, lates and more lates from 2008-2012.

Re: Baddies and Lates

CreditDunce — Thu, 07 Aug 2014 20:21:46 GMT

@New_Beginning wrote:
So is there a chart someone where that helps you figure out what bucket you are in? I would be curious to see what bucket I am in where I will basically plateau once I get the last 3 CO off. One left to fall off this year the others to fall off in 2018, the rest is just old lates, lates and more lates from 2008-2012.

I don't know of a chart that tells you which bucket you are in. Much less what the score range is. But there are many threads with theories on the different buckets.

Here are a couple:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/FICO-Scoring-Buckets-or-quot-Scorecards-quot/m-p/325574/highlight/true#M26433

And the following thread has an interesting theory put forward by RobertEG:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Buckets/td-p/783757/highlight/true

You can search google for more info. But it is all speculation since FICO isn't saying much.

Re: Baddies and Lates

New_Beginning — Thu, 07 Aug 2014 21:41:03 GMT

@CreditDunce wrote:
@New_Beginning wrote:
So is there a chart someone where that helps you figure out what bucket you are in? I would be curious to see what bucket I am in where I will basically plateau once I get the last 3 CO off. One left to fall off this year the others to fall off in 2018, the rest is just old lates, lates and more lates from 2008-2012.
I don't know of a chart that tells you which bucket you are in. Much less what the score range is. But there are many threads with theories on the different buckets.

Here are a couple:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/FICO-Scoring-Buckets-or-quot-Scorecards-quot/m-p/325574/highlight/true#M26433

And the following thread has an interesting theory put forward by RobertEG:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Buckets/td-p/783757/highlight/true

You can search google for more info. But it is all speculation since FICO isn't saying much.

Thanks!

Re: Baddies and Lates

celticslegends — Fri, 08 Aug 2014 01:08:33 GMT

@EW800 wrote:
My experience is that Revelate is dead on. In my case, I have some real baddies from 18-24 months ago, however since then I have made every payment on time, and paid down UTIL big time. As a result, I have seen a very nice rebound in scores as time has passed (see below), however I am sure that I will stuck at or close to where I am at now as long as the baddies continue to show. Recently good behavior definitely seems to at least help.

Thanks for your insight. I see that in the past two years (based on your scores in your signature) you at least have made some headways. I'm in a similar boat as you, but have only seriously been working on my credit for the past 8 months. Hopefully I can be in the 700's like you in the next year or so. I'm making headway.