Simple question concerning derogs

[Fancyron]

Do major derogs (90 day+)have a substantial lesser impact on score 2 or 3 years after they were reported.  Or is the impact still severe until it falls off after 7 years?

Ive read that 60 day lates are treated like a 30 day late or less after 2 years.  Just wanted to know how the major derogs are treated in the same time frame. 

[GFer]

It only makes since that they would, but I honestly can't say for sure.

Now I did gain some points when some major derogs hit 2yrs (recently). But there were other things going on at the same time. I'm sure others will come along and answer this more definitively.

[Anonymous]

Major Derogs (60's under 2 years) and 90+'s

Will have some affect for the entire time they are on your reports- 

However- You WILL see some FICO love at 2 years clean.

[marty56]

I havent seen any change in my score with my major (120 day late) derog going over 3 years old so I would also agree that I wont see any change in my scores  until it falls off in 4 years.

I would like to here from anyone who has a major derog and a EQ score over 760.  I am proof that you can have a TU and EX score over 760 with a major derog.

[GFer]

So there's hope for me anyhow? No wait---what are you about 90, Marty???

[Anonymous]

---

*** Dinged if ya do & Dinged if ya don't! ***

---

It's kind of like starting a business...you gotta spend points to make points.

Dan

[marty56]

---

@GFer wrote:
So there's hope for me anyhow? No wait---what are you about 90, Marty???

---

I'm 52.  I wish I would have started managing my credit when I was 22.

Message Edited by marty56 on 10-18-2008 06:29 AM

[GFer]

I'm not much younger. (Just teasing you!) Only saying that cause your scores are so stellar and then with the derog--I was sure I'd never had chances to get that high. We'll see....lol

[RobertEG]

Fancyron, you have posted an excellent question, but unfortunately, only FaiIsaac can answer it. The details of their scoring algorithm are proprietary trade secrets.  All they say publicly is that the effects age after time, and that major derogs count more than minor derogs. 

[marty56]

On seeing what you score would look like as your majuor derogs age or even fall off, would anyone here pay for a FICO score here that would allow you to remove or age your derogs.  Fantasy FICO if you will.

I doubt they would do that since tht may allow people to reverse engineer their scoreing system but it would be kinda nice.