What does derogitory mean ???

[Anonymous]

Hello, I would like to know if someone would tell me why tu and ex would show paid/current on an account and eq shows derogatory for the same account. The bal. is o on all of them. I don't know if derog is worse then current/paid. This was for a first prim. cc in 2003. I called First prim. today and was told that they sent a response to eq 3 times so far. Does this hurt my fico? I also have a problem with some student loans from 1999. I recieved the loans in 1999 I was 120 days late in Nov.2002. When does this come off my credit report? The day it was first reported to the credit bureaus or when it was late? It looks like it was reported twice on tu and eq and three times on tu. It went from Sally Mae to Great Lakes. I never missed a payment with Great Lakes for this loan. Also, is it normal for a new comp. buying a loan to change the account number? I had 4 loans with Sally Mae and Great Lakes bought all of them and changed the account number. So, it shows late payments on Sally Mae and no late pays on Great Lakes. Thanks for any help.

[JoeBJay20]

Derogatory refers to any missed payment on your account or the resulting effect of continued missed payments.  Any late of 90 days or longer (120-180 day late, charge-off, or a collection account) is a severe derogatory, and affects your score much longer and much more severely than 30 and 60 day lates.  Current derogatories hurt your score worse than past derogatories, but there is damange in both cases.  In case of the student loans, you had an account that was 120 days past due that you brought back to current status.  So your current account status is pays/paid as agreed, but the derogatory late payment is still part of your file for 7-7.5 years.  In your case, the late should fall off around November of this year.  If the First Premier late is from 2003, is should come off your report next year.  90+ day lates, chargeoffs, and collection accounts hurt your score as long as they're listed in your reports.  Most of the effect of 30 and 60 day lates ends after 2 years. 

[Anonymous]

JoeBJay20,

  Thanks for the response. So, why would tu and ex show under current status closed/current with a 0 bal. but equifax shows 0 bal with current status derog? The student loans for tu show same account numbers for sm servicing and Sally Mae. Both for the same time period and the same bal. SM servicing shows no late payments but Sally Mae shows the late payments both with the same time span.. It then transferred to Great Lakes with the same time span and Bal. but with no late payments and different account number. Is SM servicing the same thing as Sally Mae? I tried calling SM servicing but the number is not in service. Sorry if this is confusing. I am new and very confused lol.