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When Will My SL Lates Age Off?

lisabobisa
Valued Member

When Will My SL Lates Age Off?

Hello,

596DB643-E298-40A0-AF52-A0082A0D2E37.png

 

I had a string of lates from July 2015 to March 2016 on my direct loan that eventually defaulted. Rehab has since been completed and I am left with the following TL. When can I expect these lates to fall off? Do you think the entire TL will be deleted? Please note that there are no lates outside the bounds of this string of lates. Also the only reporting done after the string of lates is an OK by Experian in April 2016. 

Please let me know if you need more info and thanks in advance for your help!

Message 1 of 5
4 REPLIES 4
LaHossBoss
Valued Contributor

Re: When Will My SL Lates Age Off?


@lisabobisa wrote:

Hello,

596DB643-E298-40A0-AF52-A0082A0D2E37.png

 

I had a string of lates from July 2015 to March 2016 on my direct loan that eventually defaulted. Rehab has since been completed and I am left with the following TL. When can I expect these lates to fall off? Do you think the entire TL will be deleted? Please note that there are no lates outside the bounds of this string of lates. Also the only reporting done after the string of lates is an OK by Experian in April 2016. 

Please let me know if you need more info and thanks in advance for your help!


If you were not one of the lucky ones to have the TL deleted or the lates dropped after rehab was completed, they lates will age off 7 years from when they happened.

 

It seems like the account should hopefully age off in April or May 2022.

 

I would pull all 3 CRs straight from annual credit report and it will state when they should drop.

 

ED will be tricky since there is an "ok" after the string of lates. That likely means the entire string should drop in April or May 2022, but the account will likely remain on your CRs, which is kot bad and will boost your AAoA since all the lates will then be gone.

 

TU should list "estimated date of removal". I would guess if it has one it will be May 2022. You could request early exclusion from them in Nov this year to have the entire TL removed.




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Current Score: 2•21 | EQ [F8 638] [F9 600] [EQ5 668] [VS3 651] | TU [F8 610] [F9 569] [TU4 605] [VS3 605] | EX [F8 612] [F9 553] [EX2 627] [VS3 589]
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SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
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Message 2 of 5
lisabobisa
Valued Member

Re: When Will My SL Lates Age Off?

Thanks so much @LaHossBoss 


no I wasn't lucky enough to have the lates fall off after default. They were doe loans that were transferred to Great Lakes before default and they continued with Great Lakes after default. No love in-house I suppose. 

I checked my TU and it says it is due to be removed April 2022. So I will petition for EE in Nov 2021. So the other bureaus do not offer EE?

Message 3 of 5
LaHossBoss
Valued Contributor

Re: When Will My SL Lates Age Off?


@lisabobisa wrote:

Thanks so much @LaHossBoss 


no I wasn't lucky enough to have the lates fall off after default. They were doe loans that were transferred to Great Lakes before default and they continued with Great Lakes after default. No love in-house I suppose. 

I checked my TU and it says it is due to be removed April 2022. So I will petition for EE in Nov 2021. So the other bureaus do not offer EE?


EX offers 3 months, but 2 or 3 months are already built in to the "on record until" date, but I do not believe you will have one since the last reported mark is "ok". They will all age off at once (EX drops strings of lates) when the first late ages to 7 years. You need to count from dat 1 late, though, as your first reported late is a 90d. So count back 3 months. EE is only for entire derog TLs to drop and the "ok" mark messed that one up. You cannot EE lates.I have that for several TLs, sadly, as well. Even worse, I have 4 seperate strings of lates, so you are lucky in keeping the TL alive to boost your AAoA since you only have the single string of lates. Trust me, in the end it will help more than hurt and it will be the same time frame whether you had been able to get EE or keep the account - which you get to keep the account since it has the "ok" at the end.

 

Under no circumstances mess with EQ. They only offer 30d of EE, anyway, and they TL drops early most frequently, making EE moot. Plus, I do not see EQ reporting this TL.




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 2•21 | EQ [F8 638] [F9 600] [EQ5 668] [VS3 651] | TU [F8 610] [F9 569] [TU4 605] [VS3 605] | EX [F8 612] [F9 553] [EX2 627] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 2•21 | EQ [F8 659] [F9 620] [EQ5 645] [VS3 655] | TU [F8 673] [F9 613] [TU4 608] [VS3 674] [VS4 658] | EX [F8 659] [F9 628] [EX2 634] [VS3 680]
Goal Score: 670 [X] TU


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Message 4 of 5
calyx
Senior Contributor

Re: When Will My SL Lates Age Off?

^ I concur with everything above.

TU does the 6 months, and they're easy to work with.

EX has it baked in.  If you attempt to have them removed any earlier, it can go wrong.
EQ - just don't touch it, you only get one month, and a good chunk of the time they screw up your file.




F8 EQ: 799 | EX: 791 | TU: 791 | Accounts: 2/6 3/12 8/24
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