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On my wife's EQ's credit report, there are 28 late payments. 3 happened within the last 8 1/2 months (July 2009).
All the others are years old and on closed accounts (I believe many may have last been active in 2006).
If I submit goodwill letters and successfully get some of the old ones removed, how much of a credit jump could she get?
It appears the lates are the biggest factor of what's hurt her score, because her amout of debt, history, and new credit are all good.
Thanks all.
The most recent lates on a report have the greatest impact. I would start there and work backwards. At least that's how I did it. How many points they will score if removed is hard to tell. There are so many factors which go into the score that it is hard to predict. I found that the less lates I had reporting, the greater the impact in their removal.
If we had more specifics, if you want to share, we might be able to offer more insight and help with a strategy
CB.
Let me ask you this. Are these 30 day lates? 60? 90? That can make a big difference also as well as how old they are. If you know the exact dates these accounts went late and you never got current again and they never went to charge offs or collections you can just add 7 years to each individual date to calculate when the particular late will go away.
From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
You can do the same thing with hard work
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The 3 recent lates are 60 Day and all AES (3 school loans).
The others vary from 30-90. There is one (Sunoco/Cit) last active August 2006 and it has a 120+.