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Credit Reporting Time Periods

Valued Contributor

Re: Credit Reporting Time Periods



smallfry wrote:
I don't think it works that way at least in NJ. I have been paying support for three kids since 1995. My oldest just dropped off this year. I believe as long as you stay current and are not brought into court for non compliance there should be no negatives reported on your credit report. Mine says pays as agreed. Might even be a positive trendline on my report but it has been killing me.

Message Edited by smallfry on 04-29-2007 06:26 PM




Here in the Soviet Socialist Republic of California, I don't think they care.

Stalin would have loved the child support laws in this country.
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in a credit-scoring postnuclear Stone Age...
Message 11 of 93
Valued Member

Re: Credit Reporting Time Periods

Guys,
Transunion just deleted my tax lien even though the SOL has not yet expired.

My CR still shoed th lien as being unpaid. I sent in a online dispute saying the lien was released. they deleted it the very next day
Message 12 of 93
Moderator Emeritus

Re: Credit Reporting Time Periods



inzaghi wrote:
Guys,
Transunion just deleted my tax lien even though the SOL has not yet expired.

My CR still shoed th lien as being unpaid. I sent in a online dispute saying the lien was released. they deleted it the very next day

Congrats!
Message 13 of 93
Moderator Emeritus

Re: Credit Reporting Time Periods

Want to add...
 
 
I think where people get confused is that it is possible to "restart the clock" on the (SOL). Keep in mind that the rules on that vary by state.

Paying the chargeoff will not change the 7 year FCRA reporting timeframe on the credit report. Assuming it does, the creditor is illegally reaging and you can sue.
 
The only date that matters for determining SOL is the DOFD (date of first delinquency) and, most likely by design, this date is not reported by any CRA. The only way to find out what a CRA has for the DOFD is to call and ask or send a letter requesting it.
 
The DOFD is exactly that - the date the account went delinquent that lead to the account being charged off.
 
Contrary to some posts here, the date of last payment has nothing to do with DOFD. Here's why:
Say on Jan 01, 2005 you open a "0 payments for 6 months" account. You make charges but never make any payments on the account and it eventually charges off. In this case, the DOFD would be July 20 (or whatever the due date is), 2005 because that's the first payment that was missed. Because a payment was never made, the date of last payment will be blank on the credit report.
In the above example, if you miss July's payment but bring the account current in September, the DOFD resets until you miss your next payment.
 
See FCRA 605(a) 4&5 and FCRA 605( c)1 for more details.
Message 14 of 93
Moderator Emeritus

Re: Credit Reporting Time Periods



Tuscani wrote:
 
The only date that matters for determining SOL is the DOFD (date of first delinquency) and, most likely by design, this date is not reported by any CRA. The only way to find out what a CRA has for the DOFD is to call and ask or send a letter requesting it.
 


Equifax reports DOFD.  It's all but hidden in those long horizontal lines of data.
-----------------
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Message 15 of 93
Moderator Emeritus

Re: Credit Reporting Time Periods



masdeocho wrote:


Tuscani wrote:
 
The only date that matters for determining SOL is the DOFD (date of first delinquency) and, most likely by design, this date is not reported by any CRA. The only way to find out what a CRA has for the DOFD is to call and ask or send a letter requesting it.
 


Equifax reports DOFD.  It's all but hidden in those long horizontal lines of data.


 
Yea, and sometimes the DOFD is listed as the DOLA... it just depends. That is why it is best to call to get an accurate date.
Message 16 of 93
Senior Contributor

Re: Credit Reporting Time Periods

Good for you.
Message 17 of 93
Senior Contributor

Re: Credit Reporting Time Periods

Why would the state consider the fact that you pay child support a reason to get a judgement. I pay child support in NJ and I do not have a judgment against me.
Message 18 of 93
Valued Contributor

Re: Credit Reporting Time Periods

Because this is the Soviet Socialist Republic of California. The only reason the state government exists here is to get its claws on as much of a worker's income as possible. Heck, I could probably keep more of my income if I lived in Cuba or China!

I'm planning in the long run to leave the United States. I'm only doing what any able-bodied, working person in a socialist or communist state should do, which is LEAVE.

I'm sure the child support bureau would love it if I took the same option a college buddy of mine did...they hounded him until one night, a few days before they would have taken him to jail, he put a gun into his mouth and pulled the trigger. But I see no reason I should die over a bunch of jag-off politicians and bureaucrats. Let them eat my dust.

Message Edited by TheNewWorldMan on 05-03-2007 04:08 PM
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in a credit-scoring postnuclear Stone Age...
Message 19 of 93
New Member

Re: Credit Reporting Time Periods

what im wondering is that if you pay off an account that has been to collections is it better on your credit score or is it the same. There are two accounts that have several 120day late hits.
Another question is there a way for the collection people to take off all the late dings?
Message 20 of 93