I'm in the bucket

[Anonymous]

As of last month my scores were 647 648 635, paid off most of my debt. I have about 500 left. Scores are now 670 672 and 663. I have a 120 late from 2011 and a 6 year old judgement on my report. So my question is, once I pay that off and get my last debt reducing bump, is my credit score going to sit? Or do you get points every month making timely payments? I know with cli I will get a bump. Just trying to figure out how this all works. Thanks

[Revelate]

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@Anonymous wrote:
As of last month my scores were 647 648 635, paid off most of my debt. I have about 500 left. Scores are now 670 672 and 663. I have a 120 late from 2011 and a 6 year old judgement on my report. So my question is, once I pay that off and get my last debt reducing bump, is my credit score going to sit? Or do you get points every month making timely payments? I know with cli I will get a bump. Just trying to figure out how this all works. Thanks

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I have a dirty file and after I got past my first year or so of positive history I flatlined a lot and it was difficult to make my scores move in any direction (except downward from utilization testing).  Even a brand spanking new tax lien only dropped me 5 points at least on Beacon 5.0, did drop a bunch more than that on FICO 8 but now I'm pretty flat on FICO 8 for a while if I discount the drops I took around installment loan closure.

This is Beacon 5.0 so it doesn't necessarily track with the more modern FICO 8 models but it's what I have.  Effective date within 1-2 days but describing on year boundaries for clarity:

1/1/2012: 561

1/1/2013: 652

1/1/2014: 670

1/1/2015: 683

5/24/2015: 700

By the data once I'd established sufficient positive history, my scores were upward bounded by my derogatories.  I start having my own derogs falling off in 2016 with the last tax lien off in late 2017.  I'm expecting a serious jump on all my scores after that point assuming I don't do something stupid between now and then.

FICO 8 was more forgiving for me for a while, but somewhere I crossed a boundary and now my FICO 8 scores are across the board worse than my FICO 04/98 mortgage trifecta.  I think it's as a result of how FICO 8 may handle installment loans for scoring purposes but I don't have enough data yet to really pinpoint it.  I did see that when I got a new tax lien on FICO 8, my scores between EQ Beacon 9 and Beacon 5 matched exactly; however, after six months I had substantial upward movement on FICO 8 and yet my EQ FICO 04 (Beacon 5.0) hadn't budged.  

[Anonymous]

Thanks. 10 months and counting until this nasty judgement falls off. I guess I'm in the garden for 10 months. Will the 120 lates from 2011 keep my scores down after 1 year. Apparently it says late 10 months ago from this. It will be 12 months in July. I wonder how many points I will get when that judgement falls off.

What really annoys me is I was late. I started paying the full monthly payments on time every time since 2011, yet because of past due it kept me late the whole time. Annoying that for 4 years it was on time yet late as of July last year. Ugh

[Revelate]

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@Anonymous wrote:
Thanks. 10 months and counting until this nasty judgement falls off. I guess I'm in the garden for 10 months. Will the 120 lates from 2011 keep my scores down after 1 year. Apparently it says late 10 months ago from this. It will be 12 months in July. I wonder how many points I will get when that judgement falls off.

What really annoys me is I was late. I started paying the full monthly payments on time every time since 2011, yet because of past due it kept me late the whole time. Annoying that for 4 years it was on time yet late as of July last year. Ugh

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Not sure, I'm actually really interested to know how major lates (a 120 day late is a serious derogatory and will count the full 7 years AFAIK) vs. a judgement impact scores when someone has a mix of different derogatories especially when we're talking bucketing which is a tricky beast to be sure.   Would definitely be interested in your datapoints when it happens!

[Anonymous]

Well we will see in August. My husbands judgement is fAlling off and he was a au on an account that was 120 late. Unfortunately he doesn't have a my fico, just credit karma, but we will see how many points.

[EW800]

It will be interesting to see how your scores are impacted in the coming months.  Please do keep us updated.  

> ...and after I got past my first year or so of positive history I flatlined a lot and it was difficult to make my scores move in any direction (except downward from utilization testing).

I am right there with you, Revelate.  My scores have improved by a couple of hundred points since my wife and I went through some very difficult times, however now at about 2-1/2 to 3 years after the fact, I am finding myself very flatlined in the 720-730 range on the FICO 8 model.  It seems that no matter what I do, there just aren't any additional points to be found.  

[Shann0n_marie]

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Revelate wrote:

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Kaylava wrote:
As of last month my scores were 647 648 635, paid off most of my debt. I have about 500 left. Scores are now 670 672 and 663. I have a 120 late from 2011 and a 6 year old judgement on my report. So my question is, once I pay that off and get my last debt reducing bump, is my credit score going to sit? Or do you get points every month making timely payments? I know with cli I will get a bump. Just trying to figure out how this all works. Thanks

---

I have a dirty file and after I got past my first year or so of positive history I flatlined a lot and it was difficult to make my scores move in any direction (except downward from utilization testing).  Even a brand spanking new tax lien only dropped me 5 points at least on Beacon 5.0, did drop a bunch more than that on FICO 8 but now I'm pretty flat on FICO 8 for a while if I discount the drops I took around installment loan closure.

This is Beacon 5.0 so it doesn't necessarily track with the more modern FICO 8 models but it's what I have.  Effective date within 1-2 days but describing on year boundaries for clarity:

1/1/2012: 561

1/1/2013: 652

1/1/2014: 670

1/1/2015: 683

5/24/2015: 700

By the data once I'd established sufficient positive history, my scores were upward bounded by my derogatories.  I start having my own derogs falling off in 2016 with the last tax lien off in late 2017.  I'm expecting a serious jump on all my scores after that point assuming I don't do something stupid between now and then.

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Relevate, I've read quite a few different posts of yours and can relate. As your scores started rebounding (highlighted in red) at what point would you say all of your baddies were resolved? We're you able to PFD a good portion? what do you have left on your profile? I just started fixing my credit about a month and a half ago after defaulting on everything early 2011. I opened 3 credit cards about 14 mos ago and have a car loan reporting for the last 30 mos with perfect pmts. I should be finished paying off my last CC charge offs in the next 2 mos. I've gotten a few collections PFD, one credit card  PFD, erroneous lates on my old auto loan corrected, but nothing really has updated on my CR yet. I'm wondering how high my shoe will get one I've done all I can do. A civil judgement is paid, state tax lien paid and I have an open IRS lien for a huge chunk of change I've been working on which is open. Everything else that I can't remove is set to fall off end of 2017 or by March 2018.

[Anonymous]

The only thing that has helped my score is a few cli and bringing my util down to 16%. Thank god for that. My util is going down drastically every month. Up until a few weeks ago I would only pay minimum on my cards. Scores were at a standstill. Can't believe how fast my scores are climbing just by lowering util. I was also able to get a discover it and Barclays cards last month when I had a 647 score, with 120 latex and unpaid judgement. I'm not sure exactly how much the judgement is impacting the score anymore due to it being 6+ years old. What are your scores?

[jamie123]

From being on these boards for a few years and personal experience...

The last MAJOR baddie on your reports is worth the most points. The only thing that I can think of that would be considered a MINOR baddie is a 30 day late and you better not have more than one or two 30 day lates.

If you have 1 major baddie on your reports and have been rebuilding with good credit behavior for a couple of years your scores will top out somewhere around 700 to 730. For every major baddie more than 1 you can subtract 5 to 10 points from the the 700 to 730 top cap.

Many people are shocked and surprised when a major baddie falls off and either their score doesn't change or climbs just a few points. They fail to take into consideration that they still have 1 or 2 baddies left on their reports. The very last baddie to fall off leaving you with clean reports will get the 50 to 80 point gain seen by some people here.

Don't worry though, as long as tax liens and judgements are paid or are very old you can get credit almost anywhere at decent rates. Well...At least the rates that your scores justify.

It is very important that you continue using and building your credit profile so that when that last baddie does fall off your scores skyrocket!

[Anonymous]

Thanks for that insight. I'm new at all this. When I was declined for an Amex last month, the first reason cited was judgement then util too high (35%) now 16, amount of personal loan to high, I just got it in nov, and short aaoa 3 years. What do you think the main reason was? Eta 647 cs.