Question about account aging?????

[Anonymous]

When it comes to age of accounts how does it work with joint accounts?

I have a joint accout that is in good standing and has been opened since 1975. Will this look like a 28 year old accout for me and the other joint accout holder or does it look like 14 each for age??

What about a 8 year old joint accout that is not in the good accounts do to one 30 day late from 2005? will this still reflect in the age of accounts even with the late pay? It is still open.

If I have two new accounts and one 25 year old accout do I take 25 divided 3 accounts?

What about colection accounts and the aging process are these added in to the age if say they are 4 years old and the debt was never paid?

Thanks for taking the time to answer these questions!

[Anonymous]

To answer part of the question. If the account is 28 years old. It stays 28 years old on EACH report, for you and for the joint user. It won't be divided in half.

You may want to see about a GW letter to cc with the 30 day late. Since you say it was from 2005 and if you have kept it current, they may be able to do that for you. That account will still be 8 years in length, until it has a birthday of course.

I get confused when you start adding the new accounts to the mix. I know it obviously drops the average age.

Hope that helps some.

[Anonymous]

Way I do it:

add the MONTHS the account has been open  for an account opened in December 1977---(28*12) +2 = 338

DO this for each account then divide the total of al accounts  by the number of accounts = avg age in months  Divide that by 12 to get a year figure