Scoring Questions.

[Anonymous]

Ok, so where my score lists whats positively and negatively effecting my score, one of the negatives is a "recent late payment". This payment was 11 months ago. Any idea how long before this "recent" late is not soo.... recent?

Also, I'm also catching crap for my AAoA being only 4 years, 4 months. I'm 22. Obviously, this is nothing I can change but what exactly is a "good" AAoA??

Thanks guys! =)

[Macroman]

That's either at 1 year or two years.

In either case the messages that you get are only general guidence.

Unless it's removed that late will continue to haunt you for 6 more years. Make sure you don't get any more.

[fused]

An AAoA of 4 years at the age of 22 is great, you are well ahead of most others at your age. As for your late payment, how severe is it? 30, 60, 90, 120 days late? Any other stinky stuff on your reports? How old and how severe?

[Anonymous]

Whoa. Macroman, those lates are gonna stick around for another six years??! Wow. =(

 Fused, I really effed up last year. Two 30 day lates, and one 60 day. Also, an account in collection but that was paid in full two years ago. I'm monitoring my score because next year I plan on renting an apartment and possibly leasing a car. There's nothing major going on right now, just trying to get ready.

[Anonymous]

Oh, and the most recent late is 11 months - the others are a little older.

[MarineVietVet]

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@Anonymous wrote:

Whoa. Macroman, those lates are gonna stick around for another six years??! Wow. =(

 Fused, I really effed up last year. Two 30 day lates, and one 60 day. Also, an account in collection but that was paid in full two years ago. I'm monitoring my score because next year I plan on renting an apartment and possibly leasing a car. There's nothing major going on right now, just trying to get ready.

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Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency but the full negative impact of a 30 or 60 day late usually will not last the entire 7 years. After several years the effect will begin to lessen and continue to decrease over time but some posters have written that a single 30 day late haunts them for many years. But if you're like me it just looks bad to have any negative information.

Everyone's situation is different so no one can say exactly how much or how long these lates will hurt your score. About all you can do is write GW (Good Will) letters asking that the lates be removed early.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
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Frequently Requested Threads
Whats In Your FICO Score

[Macroman]

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@Anonymous wrote:

Whoa. Macroman, those lates are gonna stick around for another six years??! Wow. =(

 Fused, I really effed up last year. Two 30 day lates, and one 60 day. Also, an account in collection but that was paid in full two years ago. I'm monitoring my score because next year I plan on renting an apartment and possibly leasing a car. There's nothing major going on right now, just trying to get ready.

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Unless the reporting creditor agrees to remove them sooner, the late payments appear on your report for 7 years. With time they have less impact on your score and it's possible at some point that they don't move the score at all.

Loan officers can still see them, however, so some impact remains.

Both human and automatic methods rate recent experience far more heavily than the old.