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Late Payment Question...now I feel like a noob...


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OK, have a late from December 2008 on a car loan. Account was paid in full and closed in February 2009. Was 54 month loan.


Late only shows on TU and was only late on account. Have tried numerous goodwill attempts with no success.


TU says it will fall off November 2015.


When that date comes, will it become a positive account and remain on the report for 3 more years until it hits the 10-year limit, or will the entire trade-line drop off?


As the late is 6 years old, my thinking was that trying to get the late removed with a dispute might cost me the trade-line if it just gets deleted instead of updated, which would hurt my AAOA more than a 6 year old late is hurting my score as the account dates back to 2004. Am I correct in that thinking?




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I have two other negatives that are worse and more recent, but which I may finally be getting rid of soon (US Bank and a paid judgment).


That was what made me question how to approach this one, as it would be the last remaining negative if the other two go.


Oldest account is 14 years old, but has been closed for 9. It will fall off in March 2014. So that will hurt AAOA.


As I have rebuilt my credit, a lot of old ones have disappeared, and a lot of new ones have been added.


AAOA has been pushed down to right around 4 years.


Goal for next year is to add a few select cards.


I could go for Amex x 2 come January as they will D* to 2013 so they would not hurt AAOA much.


I would also look for some good promotions where I can add a card, primarily where I can then combine. That would apply to Amex, or Chase as I could then move most of that new CL and the CL of my Amazon to my Marriott to keep that CL climbing. I would consider the same with something from Barclay before the annual fee hits again on my US Air. So I guess 2015 is about building a better portfolio of cards with higher limits and thinning the herd on ones that have outlived their usefulness or were useful only as donors.


Appreciate your insight, as always.


I guess it is all just supposition until I see how the other ones fall (or don't).

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