@Anonymous wrote:So, should I assume that it's going to take two years of never missing another payment for my score to bounce back? And even then, given that 30-day lates stay on your record for seven years, should I also assume that the likelihood of me getting back to an 800+ score is highly unlikely until the full seven years have passed?
30D & 60D hurt much less after two years have passed. Assuming an otherwise clean profile two years from now, I wouldn't expect to recover to where you were, but I think by that point you would have seen a healthy portion of what you lost come back. W/ regards to having 800+ w/ an aged 30D as your only reporting derog, to my knowledge that is completely possible. An isolated 30D shouldn't move you to a dirty scorecard, either, so you wouldn't be hampered by the max scores associated with those.
@FinStar wrote:
@Anonymous wrote:Appreciate the information.
Besides continuing with timely payments and keeping my credit utilization way down, is there anything I can do in the interim that could potentially raise my credit score back up while I wait for the effect of the 30D to lessen? For instance, would opening a new account to further reduce my credit utilization (although, it's already down to 2%) help? Or would that actually cause more issues due to a reduction in my average age of credit?
If you were to open a new account, it could actually bring down your score some more once the new account is factored into the metrics since there would an impact to your AAoA.
+1
After the 30D is aged some, you could try SP CLIs from your issuers that offer them, but if your util is still in the 2% range then I wouldn't expect you'd see much if any score benefit. If you want to post the details of your profile we can help you look for anything you might be able to do for a scoring benefit, but if your FICOs were 800-850 before the late it's likely that your profile is already in about as good a shape as it can be.
@Anonymous This sucks. Tbh I would be the absolute largest pest to them that I could possibly be in pursuing this goodwill delete. I wouldn't accept their 1st, 20th, or 200th "no" if it were me. (Squeaky wheel) At the same time, I would try to find peace with it as, if worst case scenario you are unable to get it removed, the MAJOR score impact will last 24 months and unless you're applying for something major in that time, the real effect will only be that which is perceived by you. Your scores will recover greatly in that time and you'll find your actual life impact smaller than perceived. So sorry about this.
@PJ2 wrote:I am in a very similar situation. A lot familiy things were happening around me and I simply forgot to pay. I would go online several times to make the payment and then get side tracked. My scores were between 776-770 and they're now hovering around 720. Wondering if you had any success?
Welcome @PJ2
Anonymous is no longer a member and had their account closed. Welcome to the forums anyways.
