Typically, how much

[Anonymous]

does a 30 days late in the last 2 years count as? Say there was one in December of 2007?  How many points does this count off of my score?  What about in August of 2008?  And about how many points does a Collection that is 6 years old count for?

Message Edited by MrsQ on 05-06-2009 06:55 AM

[Anonymous]

Recent lates are hard on your FICO.  However, there is not set number of points.  The amount of impact is going to be based upon the total content of your credit report.  If you had a lot of lates, one more not going to impact so much.  If this is your only late and you had perfect credit before, this is going to hurt a lot.

FICO is a 'weighting' and comparative grading system.  The total impact is going to be heavily influenced by what your CR has in it, good, bad, age, other derogs, etc.

In my case, if I had a 30 day late hit my CR, it would probably drop my score at least 100 points.  But in your case, I couldn't even guess not knowing more details.

You could plug your info into the FICO ESTIMATOR and get a potential "score range."

Message Edited by txjohn on 05-06-2009 06:32 AM

[Anonymous]

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@Anonymous wrote:

Recent lates are hard on your FICO.  However, there is not set number of points.  The amount of impact is going to be based upon the total content of your credit report.  If you had a lot of lates, one more not going to impact so much.  If this is your only late and you had perfect credit before, this is going to hurt a lot.

FICO is a 'weighting' and comparative grading system.  The total impact is going to be heavily influenced by what your CR has in it, good, bad, age, other derogs, etc.

In my case, if I had a 30 day late hit my CR, it would probably drop my score at least 100 points.  But in your case, I couldn't even guess not knowing more details.

You could plug your info into the FICO ESTIMATOR and get a potential "score range."

Message Edited by txjohn on 05-06-2009 06:32 AM

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Thank You.  Where is the FICO estimator?

[Anonymous]

Never mind.  I did the score simulation, and it said if I missed a payment this month, it would drop my TU from 625 to 550-585.

Thats a whole lot!  So I am going to guestimate that these "recent" 30day lates (in the last year) have affected my score at least 20 points each.

[Trishco]

In Aug 08, I had 2 erroneous 60 day late pays reported to EQ on my so called deferred student loans.  I have several late pays, including a 90 day (5 yrs old) and a collection from 2005, and even with all those it still dropped my score 80 points!! 

So here it is 9 months later, and I am still trying to get this corrected!!

*UPDATE*  They fixed it and it is now reporting correctly!  Woohoo!!!!  Got back 38 points.  After combing reports I think my utilization increased dramatically at the same time causing some of the score damage.

Edited to update

Message Edited by Trishco on 05-07-2009 07:14 PM

[Anonymous]

The "Simulator" is different than the Estimator.  The Estimator allows you to calculate based upon the "removal" of derogatories, addition of accounts, varying levels of debt, inquiries, etc.

The Simulator gives much less flexibility, and none for the removal of anything, only for "a late" or "max out" or "new account"

Plug your info into this, and then play with it to see where you can make the most improvements for score:

http://www.myfico.com/FICOCreditScoreEstimator/Estimator.aspx