Recent late payment?

[XAVIERSMAMA]

Hello all,

One of my negative factors affecting my credit report says that I have a recent late payment.  My last late payment was 120+ in 3/2005.  I file BK and had my BK discharged 11/07.  I took out an auto loan in 9/07 and haven't had any late payments on my car, student loan or either of my credit cards since 2 mo prior to filing BK.  How recent does a late pay have to be considered in contributing factors?  I haven't paid anything late in 2 years.  I do have an old student loan that was consolidated but in the status it's listed as 60 days late but there is no balance.  Could this be the culprit?  All the other student loans say paid/transferred.  Thanks for any input.

[XAVIERSMAMA]

I didn't get any responses to this so I thought I'd try again.  My TU and EQ both list my number 1st neg factor as recent late payment.  I'm still trying to figure out what this is.  Does anyone know whether or not collections count as open accounts for the purpose of payment history?  I don't have any payment agreements with any CA.  I have 3 old student loans that were 120+ but then were consolidated.  My consolidated loans have no late pays and I haven't had any late payments on any of the accounts that I currently have open.  The student loans that are reporting 120+ have a zero balance, but the pay status reports as 120+.  Does anyone know whether this is my "recent late"?  I am applying for a mortgage next month so I don't want to dispute this without knowing whether or not it would be worth it.  Thanks in advance for any input.

[llecs]

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XAVIERSMAMA wrote:

Hello all,

One of my negative factors affecting my credit report says that I have a recent late payment.  My last late payment was 120+ in 3/2005.  I file BK and had my BK discharged 11/07.  I took out an auto loan in 9/07 and haven't had any late payments on my car, student loan or either of my credit cards since 2 mo prior to filing BK.  How recent does a late pay have to be considered in contributing factors?  I haven't paid anything late in 2 years.  I do have an old student loan that was consolidated but in the status it's listed as 60 days late but there is no balance.  Could this be the culprit?  All the other student loans say paid/transferred.  Thanks for any input.

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XAVIERSMAMA wrote:
I didn't get any responses to this so I thought I'd try again.  My TU and EQ both list my number 1st neg factor as recent late payment.  I'm still trying to figure out what this is.  Does anyone know whether or not collections count as open accounts for the purpose of payment history?  I don't have any payment agreements with any CA.  I have 3 old student loans that were 120+ but then were consolidated.  My consolidated loans have no late pays and I haven't had any late payments on any of the accounts that I currently have open.  The student loans that are reporting 120+ have a zero balance, but the pay status reports as 120+.  Does anyone know whether this is my "recent late"?  I am applying for a mortgage next month so I don't want to dispute this without knowing whether or not it would be worth it.  Thanks in advance for any input.

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Major derogs are factored in for the full 7 yrs into your score. FICO will continue to mention it as one of your top baddies for the length of time it reports. DW has one late payment from over 5 yrs ago, a 90+ day, and it is still listed at the #1 negative.

If you pull your CR directly from the CRA and look at the SL that had the 60+ day, then you'll see the placement of that late, even though your FICO report shows a perfect history.

Don't dispute it if it is legit. Also, some lenders will frown upon a dispute remark. Have you tried sending a GW letter?

[XAVIERSMAMA]

This is what I don't understand, the accounts were consolidated and all the other accounts that were also consolidated show the lates in the picture key underneath the account and the current account status on these shows as paid/refinanced or paid/transferred on EQ and blank on TU.  The current status on the sl's in question show 120+ late.  I'm wondering if that is what's making the difference in my score, not the fact that the pays were late but how they are listed.  To me, it seems as if these particular sl's appears as if right now I am currently 120+ days late and that's obviously not the case.  Does that make sense?

[AndySoCal]

If the status of those account(s) reporting as 120 days late or 60 days late that is thje account(s) the score is referring to.  If I read the post correctly you have an account reporting as currently 60 days late with a zero balance. I would dispute the status of the account. you can be late on an account and owe nothing.

[XAVIERSMAMA]

I disputed the status of the these loans and they were deleted yesterday.  I got a 16pt increase yesterday also.  I thought the increase was due to paying down my CC util, but that is unchanged since my last score update.  I think that  the current status being 60+ late was indeed affecting my score even though the balance was zero.  Anyone else have a similar situation so that this can be confirmed?