I have a quesiton regarding late payments and when they fall off of one's credit report.
I had a BK7 in 2019; prior to that I was current on all of my bills, except my mortgage. The first 30 day late was in August 2017, and it was 30 days late for the next year until July 2018, when I got current for 2 months and then in September 2018 it went 30 days late, followed by 60 days late in October, all the way until it was charged off with the BK in June of 2019.
As I understand it, the lates will fall off on the date of the first late payment, which in this case would be August 2024. However, will the 2 months I was current in July 2018, affect this? Meaning, will the first string of lates (August 2017 - June 2018) fall off on August 2024, but then I'll have to wait until September 2025 for the next series of lates to fall off, or will they all fall off in July 2018, regardless of the 2 months that I was current in July/August of 2018?
I realize that this is slightly immaterial given the BK7, but these lates (and one other that is falling off next month) are the only ones remaining on my CR and I'm wanting to get some clarification as to when my report will be clean (minus the BK7, of course).
Thanks to one and all.
Sept/Oct 2018 the last 30/60 late will be it. Thats a string. The single 30 day lates go 1 by 1. Strings start at 30,60, 90, ect. The BK will always rank higher.
Thanks FireMedic.
I thought that would be the case. I'm just wanting to have everything gone other than the BK7.
I had 1 lonely 30 day before filing. It fell 1 1/2 after the filing and gained 3 pts. Popped the champagne! 