Single 30-day late lingering on a paid-off auto loan

[moosemoney]

I paid my old car loan off in August 2012, with perfect payments except for one. A 30-day late in January 2012.

Here are my questions:

1. When will that late payment age off? I read that good-standing accounts stay on your report ten years, and aside from that one payment, it was a perfect account.
2. Is it worth the trouble of attempting a GW to have it removed? I have much bigger fish to fry, but every little bit helps.

Thanks!

[Anonymous]

The late will disappear approx 7 years from when it occured.  So in this case Jan 2019, or the following month.

What bigger fish are you referring to?  If you mean more serious derogs (e.g. a Day 90 late, a collection, etc.) or more recent derogs (Day 30 late from six months ago), then I am not sure I could say that you'll get some help by its removal, even a little bit of help.

[RobertEG]

A single monthly delinquency that occured in Jan 2012 would become excluded after 7 years from the initial date of delinquency.

It will thus reach exclusion after Jan 2019.

You can contact the creditor and request that they do a GW deletion now, but you do take the chance that they might decide to clean up their reporting by simply deleting the entire account, thus removing any future requests on your part.

That is beyond your control.

Personally, I would let it be.  A 30-late has little or no substantial scoring impact at 6 years after occurrence.

I would not take the chance of entire account deletion if its current age is greater than your current average age of accounts.

[moosemoney]

Okay, great. Thank you. That was one of the things I was worried about. My AAoA is shrinking because I am rebuilding and opened two accounts this year. I figured one late payment so long ago wouldn't make much of a difference but I have been working on clearing up me derogs to improve my score and wasn't sure if I should even both with this one. I will leave it be.