Trying to Understand What is Happening - Credit Score Increase + Things Dropping Off

[Anonymous]

Quite sometime ago, I posted about an issue I had that I disputed and lost.

To make a long story short, had a Chapter 7 bankruptcy in 2014 and for some reason, attached to the bankruptcy was one credit card that was shown as discharged but had a history of a late payment.  Never had a late payment on the credit card so I disputed with all 3 bureaus -- The bureaus reported I had an account with late payments which hurt my score from April 2014.  Anyway, the bureaus all turned down my dispute If I never had a late payment with the bank, why does my credit reports say so? I think they claim that since the credit was discharged that counted as a late payment, which nevermade sense to me.

So fast forward to a few weeks ago, I posted that my score magically jumped. Turns out, Experian removed the late payment. So the question is why? I thought if a late payment, it should come off 7 years later? Which should be 4/21, not 12/20.

Today, I received an updated from MyFico that an account came off my report and my score jumped for Transunion (thank God, I am going to lease a car and they use TU.)

Finally, waiting on Equifax to update.

Anyway, does anyone know what could be happening?

[Anonymous]

Sounds like early exclusion.  While negative items do normally hang out for 7 years, there are references of them dropping off earlier, sometimes at or around 78 months depending on bureau.  I would say don't look a gift horse in the mouth, tis the holiday season!

[Anonymous]

Ah. Thanks. Never heard of an early exclusion. Comes at the right time. Hoping that with my new bump I get that top preferred lease rate

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@Anonymous wrote:

Sounds like early exclusion.  While negative items do normally hang out for 7 years, there are references of them dropping off earlier, sometimes at or around 78 months depending on bureau.  I would say don't look a gift horse in the mouth, tis the holiday season!

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[Anonymous]

EQ may be the bureau where negatives tend to hang around the longest, but I'm not sure.  Someone else can comment on that.  I know one of the bureaus can often lag behind 6 months or so behind.  I've never had any negative items naturally fall off though, so I've never experienced it first hand.

[Anonymous]

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@Anonymous wrote:

Quite sometime ago, I posted about an issue I had that I disputed and lost.

To make a long story short, had a Chapter 7 bankruptcy in 2014 and for some reason, attached to the bankruptcy was one credit card that was shown as discharged but had a history of a late payment.  Never had a late payment on the credit card so I disputed with all 3 bureaus -- The bureaus reported I had an account with late payments which hurt my score from April 2014.  Anyway, the bureaus all turned down my dispute If I never had a late payment with the bank, why does my credit reports say so? I think they claim that since the credit was discharged that counted as a late payment, which nevermade sense to me.

So fast forward to a few weeks ago, I posted that my score magically jumped. Turns out, Experian removed the late payment. So the question is why? I thought if a late payment, it should come off 7 years later? Which should be 4/21, not 12/20.

Today, I received an updated from MyFico that an account came off my report and my score jumped for Transunion (thank God, I am going to lease a car and they use TU.)

Finally, waiting on Equifax to update.

Anyway, does anyone know what could be happening?

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How severe was the late? The drop off date is determined by the date you became 1 day late - not when 30/60/90d late was marked on your CRs. Say only a 90d late was marked, you would count back 3 months and that would be when it ages off. People often only look at when the first late was repkrted and count 7 years from there. It needs to be based off of day 1 being late - that is the "Date of First Delinquency".

Sometimes/often the CRAs will drop them off a month or three early, depending on bureau.

30d late in 4/2014 would mean it would age off  3/2021, 3 months of EE for EX (explained below) would be 12/2020 - and they usually do not drop until the middle to end of the month. Sounds like this is exactly what happened. It seems right on time and not early if it was a 30d late?

Now EX is completely different beast - to explain above - in a good way. EX "builds in" 2-3 months of EE (early exclusion) into the "on record until" date given on the annual credit report EX CR.

EX also drops off entire strings of lates. This is seperate from aging off, though.