Aging Delinquencies

[sparky2star]

Great thread! What do you mean "strings"? Delete strings that is...

[Anonymous]

Strings are repeated lates, successively, e.g., say your first late was June and you became current in November. Your "string" would include from June to October, a 5 month string!

[VanderSnoot]

Birdman is correct. I'll just add that the following example is also a string: even though payments were made during this time, the account was never brought current, so all of these delinquencies belong to the same string.

March 2013 - 30 day late

April 2013 - 60 day late

May 2013 - 30 day late

June 2013 - 60 day late

July 2013 - current

[Remedios]

Times given for EE on all three are correct.
EQ - one month early, dont mess with EQ
EX - three months early, it can go either way
TU - six month, they may even get it right

However, it's important to note that's when you can request removal, not when they would be removed if one did not interfere with the house cleaning process

[VanderSnoot]

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@Remedios wrote:
Times given for EE on all three are correct.
EQ - one month early, dont mess with EQ
EX - three months early, it can go either way
TU - six month, they may even get it right

However, it's important to note that's when you can request removal, not when they would be removed if one did not interfere with the house cleaning process

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This thread is about the house cleaning process, not EE (although the closer I get to clean CRs, the more tempting it becomes to call TU and ask).

[Remedios]

@VanderSnoot  I'm well aware what this thread is about.

If you go back to page one, Trudy is referencing EE times based on consumer requests as "something we know that might have changed" but times given were for consumer requests, not the actual time house cleaning may happen. 

I'm not aware of any set times, other than being removed prior to 7.5 years. The only difference I see here is EX not removing string of delinquencies when oldest one (30 day) reaches "maturity", but instead having individual lates fall off. 

Anyway, congrats on removals 

[VanderSnoot]

I was wondering if you were replying to that post. Thanks for the clarification.

[sparky2star]

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@Anonymous wrote:
Strings are repeated lates, successively, e.g., say your first late was June and you became current in November. Your "string" would include from June to October, a 5 month string!

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Thanks for clarifying!

[sparky2star]

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@VanderSnoot wrote:

Birdman is correct. I'll just add that the following example is also a string: even though payments were made during this time, the account was never brought current, so all of these delinquencies belong to the same string.

March 2013 - 30 day late

April 2013 - 60 day late

May 2013 - 30 day late

June 2013 - 60 day late

July 2013 - current

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Thanks Vandersnoot.

[VanderSnoot]

Just taking a look at the timing between deletion and requesting EE. For EX, requesting EE cleans your reports 1 month before EX would have deleted the strings anyway, so there's a small gain. The biggest bang is with TU, since you can request EE 5 months ahead of deletion and remove the whole string, which waiting for deletion does not accomplish (particularly helpful if you have a long string). TU also has the best track record of getting EE right.

But I'm confused about EQ. If they're deleting delinquencies on their own 3 months early, then they're long gone by the time EE is available (1 month early).

	Deletion	EE
Equifax	3 months	1 month
Experian	2 months	3 months
Transunion	1 month	6 months