Serious delinquency, and public record or collection filed

FICO code numbers

Code numbers can differ by bureau and score version. The wording of the statement is what to match.

What puts this reason on your score

A charged-off card plus a utility bill in collection, or a loan that went 90 days late plus a bankruptcy, fits this code. FICO lists it as code 38 for all three bureaus.

A serious delinquency means a late well beyond 30 days or an outcome like a charge-off. Because the code pairs it with a collection or public record, it usually shows on files rebuilding after a rough stretch, and it tends to stay near the top of the list for a long time.

What to check on your credit report

• Find every account with a 90-day or worse rating, a charge-off, a collection or a bankruptcy.
• Check the date of first delinquency on each one.
• If there's a bankruptcy, confirm the chapter and filing date, and that included accounts show as included in bankruptcy with a $0 balance.

What you can do about it

• Dispute any item that's inaccurate, incomplete or can't be verified, with one item and one reason per dispute.
• Keep every current account paid on time so new clean history builds beside the old damage.
• Don't dispute accurate items as a tactic. Under Fannie Mae's rules, an accurate disputed account can knock a loan out of automated underwriting.

The free drop off calculator can help with this step.

How soon a change can show

These items fade over years. Most leave the report seven years after the original delinquency, and a bankruptcy can stay up to ten.

If you are applying for a mortgage

Mortgage programs set waiting periods after bankruptcy and foreclosure that run apart from the score. Know your dates before you set an application date.

Guides that go deeper

• Mortgage waiting periods after bankruptcy, foreclosure, or short saleFHA, VA, USDA, Fannie Mae, and Freddie Mac waiting periods after Chapter 7, Chapter 13, foreclosure, short sale, and deed in lieu, with sources and start dates.
• Rebuilding credit after bankruptcy: the first 24 monthsWhat your report should look like after a bankruptcy discharge, which accounts to open first, which offers to ignore, and how long the record stays.
• What not to dispute on your credit report before a mortgageDisputing accurate items rarely helps, and open disputes can stall a mortgage. How Fannie Mae and FHA treat disputed accounts, and what to do instead.
• What your credit score reason codes are telling youReason codes list what held your score back the most, in order. What the common ones mean, which you can act on, and which to leave alone.