Ouch. So much for the 30-60 days not counting after a year theory.

[thankfulheart]

Got a SW alert a few weeks back, Sam's Club 30/60 late from 2007 was "in dispute" (I sent a GW letter).  Score jumped 9 points.  Had some interim action, got another alert today, "in dispute" comment removed and voila, 9 points gone again.  1x30 and 1x60 from 5 years ago = 9 flippin' points.  ~sigh~ To be honest, I didn't think they were impacting my score anymore due to the age, I just was looking for a cleaner report, hence the GW. 

[drkaje]

No one really knows how the magical formula works. The impact of late payments does seem to lesson over time but there's no telling if lates that are contiguous or on the same account are factored in longer. I have 3-4 that fall off in October and will have a 100% clean file. They did a "One time adjustment" to the account earlier this year, but I'm really tempted to try again. It's a small bank and I've already dealt with the only person able to say yes.

All the above being said: the loss or gain in points may have been related to average account age and not the two late payments.

[MarineVietVet]

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@thankfulheart wrote:

Got a SW alert a few weeks back, Sam's Club 30/60 late from 2007 was "in dispute" (I sent a GW letter).  Score jumped 9 points.  Had some interim action, got another alert today, "in dispute" comment removed and voila, 9 points gone again.  1x30 and 1x60 from 5 years ago = 9 flippin' points.  ~sigh~ To be honest, I didn't think they were impacting my score anymore due to the age, I just was looking for a cleaner report, hence the GW. 

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So much for the 30-60 days not counting after a year theory.

I'm not sure where you got that "theory" from. Certainly not from any long time members here. Or you got it from long tme members who don't read very many posts. While the impact of late payments, as with any negative, fades over time there is no hard and fast rule as to how much and how long any particular negative will affect you.

There are anecdotal stories that seem to indicate that a 30 day late loses much of it's impact after several years and a 60 day late begins to look like a 30 day late after a couple of years but every credit profile is different and it's definitely a YMMV situation.

Edited for a typo.

[RobertEG]

+1

Additionally, the 30-late is a minor derog, and wont raise an eyebrow on a manual review after a couple of years.

The 60-late is a 'tweener (between minor and major) and probably would only raise concern if within 2-3 years, after which, as was stated, it seems to be viewed/scored about the same as a minor 30-late.

Most of the sting is gone, regardless of the exact numbers.  But still alive, only if just for manual review purposes, for the full 7 years.

I suggest that when sending any GW, the introductory sentence should read "This is NOT a dispute of accuracy of credit reporting.  It is a request for a good-will deletion of information reported to my credit file."

Envelope-openers are not always the most knowledgeable employees when it comes to credit reporting.

[haulingthescoreup]

If this was your only negative, that could explain it.

It's true that the impact of 30's fade over time, and that after 2 years, a 60 counts as a 30. If you have a ton of other lates, a 30 wouldn't matter much.

But if it's the only negative, its presence or absence definitely makes a difference.

[webhopper]

I have a 60 day from 2006 still hanging around... one more yr. one more yr. one more yr.   

Its my only late on EX...  I have a 90 day on TU for something different... also falls off in 2013...  one more yr. one more yr. 

Waiting for these things to fall off takes forever!

[drkaje]

Just checked my Ex Plus score and it jumped 25 (to 750) points because those lates from 2005 fell off early. Ex is always 20-25 points higher than FAKO. I'm wondering how long it'll take TU/EQ to follow suit.

[drkaje]

Just checked EQ (Plus Score from USAA) and it went up 35 points when a 60 day late fell off, leaving the report totally clean. EQ FAKO, from EQ, only went up 6 points.

I'm impatiently awaiting the SW update, LOL!

[tooleman694]

I had a 30 day late a year ago and it hit my score hard, then every month as it aged my score went up. Right around the 6 month mark I got the 30 day lates removed and my score didn't move.

So im my experience the 30 day late had lost its effect at the 6 month mark.

[Revelate]

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@tooleman694 wrote:

I had a 30 day late a year ago and it hit my score hard, then every month as it aged my score went up. Right around the 6 month mark I got the 30 day lates removed and my score didn't move.

So im my experience the 30 day late had lost its effect at the 6 month mark.

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Out of curiosity, was that the only negative on your report?  

There's a whole lot of reasons why your score might not have moved, either other derogatories keeping it flat, or re-bucketing being the primary two.  Most people have experienced 30 day lates being penalized longer, but granted this is very much YMMV when it comes to individual reports.