@MrsCHX wrote:
@nycfico wrote:
@Anonymous wrote:Well...I wouldn't dare to guess...but...
There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think. I hope you break 700.
I also have three 30-day lates from 2013. No other negatives though if that helps you to compare.
Wow...so three 30 day lates from 2013 are in effect costing you 70 points, assuming no other issues? I'm curious though what your utilization, credit mix, length of history and inquiries look like?
People seem to assume that there's very little impact once a late is xx years old. I am being held back by 3 lates (on student loans so across several SL accounts) from 2014 and it's a major hinderance.
We've had little recent testing on lates over time; JagerBomb's experiement and my own singleton 30D on TU are about the only two I'm aware of.
I do know when I get my lien airstruck for all of a week of December from EX I only went to 756, which seems low given the rest of my profile except that I had a 30D and a 30/60D on tradeline with those lates from 2010.
Reason codes were suddenly all deliquency this and deliquency that, so in some form at least a 60D is full monty., and maybe a 30D too.
Revelate wrote:
MrsCHX wrote:
nycfico wrote:
LOTR wrote:
Well...I wouldn't dare to guess...but...
There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think. I hope you break 700. 
I also have three 30-day lates from 2013. No other negatives though if that helps you to compare.
Wow...so three 30 day lates from 2013 are in effect costing you 70 points, assuming no other issues? I'm curious though what your utilization, credit mix, length of history and inquiries look like?
People seem to assume that there's very little impact once a late is xx years old. I am being held back by 3 lates (on student loans so across several SL accounts) from 2014 and it's a major hinderance.
We've had little recent testing on lates over time; JagerBomb's experiement and my own singleton 30D on TU are about the only two I'm aware of.
I do know when I get my lien airstruck for all of a week of December from EX I only went to 756, which seems low given the rest of my profile except that I had a 30D and a 30/60D on tradeline with those lates from 2010.
Reason codes were suddenly all deliquency this and deliquency that, so in some form at least a 60D is full monty., and maybe a 30D too.
I did my own experiments on this a while back and I believe the deck is much more than "stacked" against the consumer by FICO. Consider these:
1: In the mid 1990's I had a Collection Account appear on my credit file (don't remember which one) but I lost 45 points over night. It was my ONLY derog TL - no other lates of ANY kind. It turns out the debt wasn't even mine and after a series of angry emails back and forth between the provider and myself and a very convincing threat to sue, the JDB that placed the TL had it removed. I only got ten of those points back. Conculsion - FICO scores not only on what IS there, but on what WAS there, regardless of how factual it is.
2: The currect Score Funk I am in began in mid 2010 when my wife lost her job. Up to that point my credit was spotless and my FICO score closing in on 800. Then the companies I had credit with started "balance chasing" on me, increasing my Utilization from15% to 95% almost overnight, then doubling and tripling my interest rates because my score tanked (keep in mind I had not missed a single payment and in fact was accumulating cash to pay them all off within 60 days) because the decrease in FICO score that THEY created made me look like a bigger risk. All of a sudden my credit was tanked and not because of anything I had done. Conclusion - the creditors have a vested interest in depressing your score, and FICO is a willing participant in that.
3: As a result of #3 I decided (right or wrong) that I would NEVER pay any of those creditors who tanked my score. I didn't and I got 7 derogatory TLs - 2 JDB's, 2 CAs and 3 OC's. NOW FICO had a reason to tank my score. My score settled into mid 600's. Two of the JDB's kept reporyting every month just to make sure my score remained there, and it did - for about 7 years. All of a sudden, one of the OC's who reported as a Charge Off in late 2010 re-reports the Charge Off in late 2016 and wham, my score tanks 60 points. Add in me paying off my mortgage and losing 40 points for that, and I lost another 100 points in 150 days. All the credit cards I defaulted on are Out of Statute for Suit in my State and I just paid off my car loan. I am now legally debt free and I have an extremely low FICO score to prove it. The way FICO works I doubt I will ever see those points again, even though all the derogs age off my reports within the next 90 days.
At one point (pre mid 2010) I was very close to the 800 club. Now I am just barely in the 600 Club and there I am resigned I will stay there. Playing to get FICO points is a fool's game, and it is stacked against you. The only way to get those points is to enslave yourself to FICO and Credit Card companies by being in hopeless debt. You get FICO points for PAYING debt, and you lose points by PAYING OFF debt.