cancel
Showing results for 
Search instead for 
Did you mean: 

7 yr old late payments / accounts still bad?

Highlighted
Frequent Contributor

7 yr old late payments / accounts still bad?

Hello - as of right now my Experian score is 679.  

 

I have a 7 year old CapOne account w/ 5 late payments that is due to be removed March 18th 2020.  So question is: can I expect anything after this account falls off? Or has it already stopped imacting me because it's so old? And if does help, what sort of point increase am I looking at?

 

Update here April 3rd:   

 

The 7 year old account that had 5 bad payments attached to it fell off and there was no change to credit score.  It was then clear that the last closed student loan account with the erroneous late payment was the culprit.

 

This week, after 4 months of back and forth and a few hundred hours spent on the phone, I was able to get the whole trade line deleted.  It has already been removed from Experian.  Score shot up to 764 immediately.  

 

Have to wait for Fico 3B update later next week to see how it impacts TU and EQ but I am now confident it will be removed from them too.  Current TU: 731 and current EQ 705 so hoping those see a jump too.

 

Really happy about this.  No negatives on my report as of today.

Message 1 of 40
39 REPLIES 39
Highlighted
Super Contributor

Re: 7 yr old late payments / accounts still bad?

Early Exclusion:


7 year (plus 180 days) mark is the DoFD exclusion date. You can request for EE Early Exclusion on your derogatory / delinquency from:

TransUnion - 6 months early.

Experian - 3 months early.

Equifax - 1 month early. I would not recommend requesting EE. Let derogatory / delinquency fall off naturally.


Call up TransUnion . Front line csr may be able to assist. If not, request to speak with a supervisor to have the delinquency / derogatory removed. You may not see a score improvement until the last late is removed. However, since EE request is a simple process might as well take advantage of it.

Message 2 of 40
Highlighted
Super Contributor

Re: 7 yr old late payments / accounts still bad?

Do you have any other deragatories or delinquencies on your credit report?
Message 3 of 40
Highlighted
Frequent Contributor

Re: 7 yr old late payments / accounts still bad?

This is the only real one from 7 years ago.  And the early exclusion date from Experian is March 18, 2020.

 

The other is a recent "fake" late payment from ECMC that I have just given up on.  I've written a whole post about it on the student loan boards (got 1 response).  

Message 4 of 40
Highlighted
Super Contributor

Re: 7 yr old late payments / accounts still bad?

You won't gain any points until the last delinquency is removed from your report.
Message 5 of 40
Highlighted
Frequent Contributor

Re: 7 yr old late payments / accounts still bad?

That's what I figured.  No change.  

 

Thanks.  

Message 6 of 40
Highlighted
Super Contributor

Re: 7 yr old late payments / accounts still bad?

What are the severity of the
delinquencies; 30, 60, 90, 120?
Message 7 of 40
Highlighted
Frequent Contributor

Re: 7 yr old late payments / accounts still bad?

For the 7 year old CapOne that's about to fall off, it went up to 120 days. (30 one month, 60, 90 then 120 in last month). 

 

For the ECMC late, it's not a late.  So i have no clue what Experian counts it as.  All I can see is "most recent late payment was 3 months ago" which is the ECMC.  

Message 8 of 40
Highlighted
Super Contributor

Re: 7 yr old late payments / accounts still bad?


@StephStamper wrote:

For the 7 year old CapOne that's about to fall off, it went up to 120 days. (30 one month, 60, 90 then 120 in last month). 

 

For the ECMC late, it's not a late.  So i have no clue what Experian counts it as.  All I can see is "most recent late payment was 3 months ago" which is the ECMC.  


Those 90-120 lates are major delinquencies. I don't recall the exact number. The major costing you maybe up to or around 70-90 points?

Message 9 of 40
Highlighted
Frequent Contributor

Re: 7 yr old late payments / accounts still bad?

Wait, so you're saying that a late payment of 120 days that was last reported in 2013 is still having an impact on my score? 

 

So, when the account is removed later this month, I can expect to see my score jump almost 50+ points?

Message 10 of 40
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.