glamchick wrote:
What is the difference between DOFD and Date of major deliquency first reported? I see both of these posted on my equifax?
DOFD stands for Date Of First Delinquency, and it's the shorthand most here and at least one other place uses.
DOFMCD, or Date Of First Major Continuous Delinquency, and a few other terms are often kicked around.
Depending upon how pinheaded one wishes to be, it can devolve into a semantics debate.
In a nutshell, when something goes 120 days, it's supposed to get COed and that's the DOFD which gets reported to the CRAs and that's the date, 7 to 7.5 years later, when something drops from ones CRs.
EQ appears to be telling people, or at least implying, that the 7 year rule is based on DOLA. This is a lie. If they persist, dispute CMRRR and cite FCRA §605(a)(4) and §605(c)(1).