@Anonymous wrote:
On my TU I have an account that shows late payments I can dispute this because it was in my chapter 13 I already successfully disputed a car loan that was included however its pretty old which I guess helps my aaoa and it shows good standing. Am I right to assume that late payment hurts me more than that accounts age helps me?
Probably but what else is in your file? CH 13's are 7 years, lates are 7 years, if the BK is there there I'd keep the tradeline, if you're clean besides the lates at least with modern algorithms I'd try to get it removed since it was in the BK., at least if there were any meaningful time left on them.
In general you want to get every derog you can off, but if you have a bunch of others on there and they're "pretty old" (how old?) they you wouldn't get many points for getting rid of the tradeline, and you may lose some for the account age dependant on your AAOA. The account will stick around ~3 years post BK, for that period of time depending on how the rest of your file looks that might be worth hanging onto it for.
@Anonymous wrote:
Its from Dec 2010 bk 13 was filed Feb 2011
If it were me I'd keep it then if the 13 is still there which in theory it should be.
Lates get excluded at 7 years, and then you get 3 years bonus from the tradeline which is now clean. For reference when my tax lien popped off EX FICO 8, I gained 16 points 740->756. Not even sure I would've gotten that if I got my old 30/60 late excluded from 7/2010 but since they're both coming off in similar time frames, and I'm still playing dirty because of the lien, I'm not going to even try touching that tradeline as it doesn't fall off till 8/2020, or roughly 3 years post lien removal.
For reference for me that tradeline was opened 5/2008, and my next tradeline was 10/2011, so 3 years difference oldest account and my AAOA drops by 4 months if I remove it, so ain't touchin personally.
@Anonymous wrote:
Revalate thank you for the response makes since after thinking about it. That's what I live about this forum I made it to 45 years old without understanding credit and it cost me in the form of a chapter 13 at least I kept my home anyways now I'm learning the things I should have learned a long time ago thank you
Is why we're all here in the community!