topic Re: Do 120-past-due derog's count more than 30-day ones? in Rebuilding Your Credit

Do 120-past-due derog's count more than 30-day ones?

Pigeyex — Wed, 23 Oct 2013 21:48:32 GMT

Is there any distinction (when the three credit bureaus compute my score) between 30-, 60-, 90- or 120-day late derotatory notations in the payment history?

Is it worth it to try to negotiate with a lender to get a 120-day, say, reduced to a 30-day as part of a GW letter if there's a plausible reason for it?

Thanks in advance . . . learning so much here, and excited that my score has popped more than 50 points since coming here!

Pigeye

Re: Do 120-past-due derog's count more than 30-day ones?

DaBears — Thu, 24 Oct 2013 01:27:17 GMT

120 day late is a major derogatory and can affect your scores for nearly 7 yrs.

Re: Do 120-past-due derog's count more than 30-day ones?

Pigeyex — Thu, 24 Oct 2013 01:38:34 GMT

But does it affect my score more than a 30-day late? That's my question.

Re: Do 120-past-due derog's count more than 30-day ones?

DaBears — Thu, 24 Oct 2013 01:45:53 GMT

Yep. 30 day lates only affect your score for 2 yrs and after that they start losing their sting. 120 late is comparable to having a Charge-Off. Each late is removed at around 7 yrs from the date/month of occurance.

Re: Do 120-past-due derog's count more than 30-day ones?

Pigeyex — Thu, 24 Oct 2013 01:54:31 GMT

Now yer talkin'. Very helpful -- thanks!!

Re: Do 120-past-due derog's count more than 30-day ones?

Pigeyex — Thu, 24 Oct 2013 13:35:14 GMT

How bad is a "KD" derog, and how does does IT stay on for?