topic How long until Late Payments stop impacting Fico score? in Rebuilding Your Credit

How long until Late Payments stop impacting Fico score?

Dolan621 — Thu, 22 Sep 2011 16:37:49 GMT

Just wondering if anyone has any idea how long before late payments stop having an impact on your Fico score? I had a rough stretch about 2 years ago and got behind on my car loan with Capital One. Had a bunch of 30,s a couple of 60s and a 90-day late. I got it straightened out and have been on top of it for almost 2 years now and haven't had any late payments.... and I'm actually cloce to payoff on the loan now.

My credit score is now decent, but I think it would be better without those lates. I tried GW letters but no dice.

Any info? Thanks!

Re: How long until Late Payments stop impacting Fico score?

Bankrupt2019 — Thu, 22 Sep 2011 17:49:27 GMT

Capital one is a scummy company, just saying. I would steer clear of them at all costs.

Re: How long until Late Payments stop impacting Fico score?

Anonymous — Thu, 22 Sep 2011 18:15:25 GMT

@Dolan621 wrote:
Just wondering if anyone has any idea how long before late payments stop having an impact on your Fico score? I had a rough stretch about 2 years ago and got behind on my car loan with Capital One. Had a bunch of 30,s a couple of 60s and a 90-day late. I got it straightened out and have been on top of it for almost 2 years now and haven't had any late payments.... and I'm actually cloce to payoff on the loan now.

My credit score is now decent, but I think it would be better without those lates. I tried GW letters but no dice.

Any info? Thanks!

There is no one size fits all answer for you but from anecdotal stories here a 30 day late will lose most of it's impact after about 2 years. A 60 day late will generally score like a 30 day late after that same 2 years but a 90 day late will likely hurt the entire 7 years it's allowed to report.

But be aware that scoring looks not only at how old and how severe lates are but also how many lates are reporting at any one time.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: How long until Late Payments stop impacting Fico score?

tooleman694 — Fri, 23 Sep 2011 21:18:24 GMT

I just had 3 trade lines removed that had lates from 30 days up to 180 days, these were a few years old.. I only got 20 points when they got removed..