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Aging Delinquencies

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Established Contributor

Aging Delinquencies

2020/1/1 UPDATE:

 

This month offers the clearest evidence to date of how the major CBs remove delinquencies in absense of a request for EE.

 

  • EQ: Deletes delinquencies three months in advance, but does not delete strings. Delinquencies from April 2013 on three accounts were removed. Strings were not deleted, so delinquencies from May onward remain. CR will be clean in June.
  • EX: Deletes strings two months in advance. String of delinquencies on one account beginning March 2013 was removed. Delinquencies on other accounts from April 2013 remain. I expect this CR to be clean in February. Looking forward to it.
  • TU: Deletes delinquencies one month in advance, but does not delete strings. Delinquencies from February 2013 on three accounts were removed. Strings were not deleted, so delinquencies from March onward remain. CR will be clean in August.

 

Updated in thread below as well.

 

----------------------------------------------------------------------------

 

I have a trail of major delinquencies from 2012-2013 on four accounts that are now falling off my reports. The last delinquency is dated Sept 2013. Most of the delinquencies are reported identically across the three CBs, but the CBs clearly have different policies regarding the removal/aging of delinquencies. I'm pulling reports from Experian/CCT. As far as I can tell:

 

  • EX is deleting 2 months early and they seem relatively liberal with how they delete. They appear to delete strings and successive non-string lates (e.g. 30 day delinqs on the same account in successive months). Plus, when deleting strings or successive lates, they delete delinqs on other accounts for those same months. This last point is based on an N=1 right now, but I'll have more DPs in the next few months.
  • EQ is deleting 3 months early but they are not deleting strings or successive delinqs (e.g. this month EQ removed a 30 day delinq from Mar 2013 but not the 60 day delinq on the same account for April 2013).
  • TU is deleting 2 months early. I don't know how they treat strings, yet, but they're not deleting successive delinqs on the same account.

These patterns are not what I expected from what I read, so I thought this may be of interest to others (I also posted on the monthly myFico Challenge thread). My intention is to let these delinqs age off au naturel, without EE, but I'm nonetheless anxious to see them go.

Message 1 of 29
28 REPLIES 28
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Valued Contributor

Re: Aging Delinquencies

Thanks for sharing!  This is something I was wondering about since my oldest will be in this postion soon. 




UNpopular opinions have served me well and will offer that which has worked for me.
Message 2 of 29
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Established Contributor

Re: Aging Delinquencies


@Hasselfree wrote:

Thanks for sharing!  This is something I was wondering about since my oldest will be in this postion soon. 


Glad it's helpful. Let me know if you want more info/clarification.

Message 3 of 29
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Established Contributor

Re: Aging Delinquencies

I often wonder if what we "think" we know about how early each bureau may remove something is changing.... possibly because of our forum input that a Google search could easily find??.  Whether they changed their policy for whatever reason or not the fact is that it may be removed, not that it will. 

In the last 3 years, Ive not had my remaining lates removed based on what we thing we know as TU 6 months early, EX 3 months early or EQ 1 month early.  My last lates over those years never matched up with that while others had threads where it indeed happened.  Nor has one bureau been consistently sooner than the other for me.  1 late was removed nearly 11 months early on TU but another with TU wasn't removed until one month before.  Other differences with the other bureaus.  My last 30 day was sitting on EX mid September set to expire in December but was removed 11 months early on TU (1/19) and 4 months early (8/19) on EQ.  In September I was getting antsy about having a clean file and called a few times to request an EE with EX but was denied.  However, it was removed unexpectedly in late October.

 

 



FICO 8 as of 02/05/20
FICO 9 as of 02/08/20
AoOA - 23Y11M | AAoA - 11Y9M | AoYA - 0Y5M
Open: 8 CC | 2 RC | 1 PLOC | 1 MTG loan | 1 Auto loan
Closed: 1 MTG loan | 1 Auto loan | 2 RC
Message 4 of 29
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Senior Contributor

Re: Aging Delinquencies

Thanks for the DPs.

Currently rebuilding as of 04/11/2019.

Starting Scores:
EX 518
EQ 518
TU 521

Current FICO scores:
EX 587
EQ 574
TU 593
Message 5 of 29
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Senior Contributor

Re: Aging Delinquencies

Are y’all calculating from the DOFD?










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 6 of 29
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Established Contributor

Re: Aging Delinquencies

DOFD isn't listed for any of the accounts, which is part of what made it difficult to determine when these delinqs would age. From conversations here, I was expecting accounts to age off from the 7 yr anniversary of DOFD as calculated backwards from the info given (e.g. if the first delinq reported is 60 days in March, then DOFD is in Jan), but that doesn't seem to be how the CBs are removing the delinqs (e.g. a 60 day in March is removed at the same time as a 30 day in March on another account).
Message 7 of 29
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Senior Contributor

Re: Aging Delinquencies

I'm not studied on that. Maybe a more experienced member will chime in.










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 8 of 29
Highlighted
Established Contributor

Re: Aging Delinquencies

2020/1/1 UPDATE:

 

- EQ: Delinquencies from April 2013 on three accounts were removed. Strings were not deleted, so delinquencies from May onward remain.

- TU: Delinquencies from February 2013 on three accounts were removed. Strings were not deleted, so delinquencies from March onward remain.

- EX: String of delinquencies on one account beginning March 2013 was removed. Delinquencies on other accounts from April 2013 remain.

 

Will update OP as well.

Message 9 of 29
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Senior Contributor

Re: Aging Delinquencies

@VanderSnoot Congratulations!!

When the rest of those delinquencies fall off, you'll realize significant gains, as well.










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 10 of 29
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