So ill attach two pictures here. This is my worst account on my credit report and i know its killing me with nothing I can do about it but let it age and fall off. There is 23 lates in total I believe, and the car was traded in and got rid of that headache that was holding me back. The main question is, When will these lates stop effecting me. i know 7 years, but does it go back to the first late payment ever october 2013 ( would have it falling off next year. does it go 7 years from the date the account was paid off and closed. or do the lates stay on for 7 years after the last late payment?
It doesn't matter if you have 1 or 50 derogatories. The impact will be there until they're all gone. They'll hurt less over time, but the bigger the late, the longer they hurt. A 30 day will start to lose strength once you get past 2 years old while a 90+ will hold it's strength almost the entire 7 years.
From the pic you uploaded. Looks like March of 2026 is when you'll be late free. That is if no other account comes up with a late after March of this year. Last late reported in your pic. If so. The clock will start again and push the fall out date I posted out further. Meaning if another late happens in Oct of this year per say. Then it would be Oct 2026. Please please be careful now and no more late payments from here on out. Good Luck!
Probably will. Wish I had better news. Last late was only 5 months ago. Futher you get away from the last one the better. Least it seems you got it now what can happen. Hey we all screw up. But we learn from our mistakes. Thats what led us to here. And now we know we wont let it happen again. Best of luck on your rebuild!
Most creditors look back 2 years for recent delinquencies, so probably.
Depending on the reason why you were late, you could launch a Goodwill campaign to remove a few. Removing the entire account is highly unlikely.
@aesl1982 wrote:Should I write a goodwill letter for each late, starting with the newest ones first.
No, you want to give an explanation as to why they continued to roll and go from there.
@Brian_Earl_Spilner wrote:Most creditors look back 2 years for recent delinquencies, so probably.
Where did you get this??? They look at everything on your report and you can be denied new credit for lates the entire time they are on file. The higher the max delinquency the more its possible for this.