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String of Lates

ItsCASHual
Regular Contributor

String of Lates

Happy New Year MyFico gurus!

I've been in a hurry up and wait pattern for awhile now. Waiting on old late payments to drop off from years ago. No collections, no charge offs or anything on reports anymore (paid them all off in full). Never had a bankruptcy, car repo or foreclosure either. Have had mortgage for nearly 20 yrs and a handful of lates on various accounts back in the day.

 

Please remind me if a string of lates fall off when the first late in the string hits 7 yr mark or does each late fall off monthly at the 7 yr mark? I seem to have (possibly) read here somewhere that certain credit bureau drops all the lates in a string upon said mark but I also seem to remember that another credit bureau drops each single late mark individually at the month of occurrence mark, and therefore, takes longer for lates to fall off completely.

 

I'm really getting anxious now because all lates (if they fall off individually all lates will be history by May 2023). Several will also fall off here in 2022. If the string of lates fall on the first late in the string, I could be with no more lates at all here in 2022. Fingers crossed for the latter.

 

Thanks in advance for any insight....

FICO 8

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1 REPLY 1
FireMedic1
Super Contributor

Re: String of Lates

Its usually the first late of a string. Just like CO's. Its the first late that led to a CO and not the CO itself.






Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
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