Lates Aging Out

[hawaiitony]

I have a silly question,but I want to make sure I am clear. Each time a late payment reaches the 2 year mark it ages out of your score factor. Is that correct? Even if you have a late payment after that one? An example is I have a 60 day late in Sep 2006. It will reach the 2 year mark as of Sep 2008, but there is a 30 day late in Jan 2007. Does that 60 day factor out? 

[llecs]

Some people say that, referring to the 2 yr mark, but I don't think it is true. Now, lates won't harm you as much as they continue to age. I had a seven year old 120 day late removed in February and received a 20 point jump. Now 120 days is a lot different from 60 days.

[Anonymous]

Lates will get softer over time-

The 2 years is especially true for 30 and 60 day lates-

IMO- The scoring will use the LATEST DATE and MOST Serious degrog for the trade line-

In your example- Fico is going to see Date of Jan 07 and most serious 60 late-  

[hawaiitony]

So using that reasoning, would you expect to see a slight increase when the 60 day reaches the two year mark and possibly a larger increase when the 30 day reaches two years or no effect for the 60 and a slight increase as the 30 ages over 2 yrs?

[Anonymous]

The 30-day probably doesn't matter much to FICO scoring...the 60-day is what it will focus on.

Try GWing the lates off the account. That would be the best possible outcome.