No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Thanks for the information IT HELPED.
Can you also address this please?
I have three accounts that show late payments as of Dec and Jan 2002. They are paid off in full and closed. If I understand correctly they will come off in a few months if all goes well. My current credit score is a 657. How much will my score go up once these are removed?
I also have two accounts that I am not sure what to do with! One shows unpaid balance charged off by creditor and I paid in collections and the other shows charge off and I paid through collections both are from the late 80's. The stuff listed above is about the only thing hurting me according to myfico and I want to finally have a great credit score now that I am on track!
At this point I am writing a dispute...anything else I should do?
Thaks for the feedback and support!
Annab13
What does DOFD mean?
@Anonymous wrote:What does DOFD mean?
Hello and welcome.
DOFD= Date of First Delinquency.
@Anonymous wrote:Thanks for the information IT HELPED.
Can you also address this please?
I have three accounts that show late payments as of Dec and Jan 2002. They are paid off in full and closed. If I understand correctly they will come off in a few months if all goes well. My current credit score is a 657. How much will my score go up once these are removed?
I also have two accounts that I am not sure what to do with! One shows unpaid balance charged off by creditor and I paid in collections and the other shows charge off and I paid through collections both are from the late 80's. The stuff listed above is about the only thing hurting me according to myfico and I want to finally have a great credit score now that I am on track!
At this point I am writing a dispute...anything else I should do?
Thaks for the feedback and support!
Annab13
Many times the fall off dates will be listed on your "real" Experian credit report. You can get one online.
I must differ. \Date of last activity (DOLA) by anyone, be they the OC or a CA, has nothing to do wth credit reporing.
For any collection or charge off, the date of drop from your CR is set at one date-certain that is unrelated to any DOLA.
It has absolutley nothing to do with any date ever reported by the CA, be it the date they reported their collection activity, any date of last last activity on the account, date assigned, or all of that meaningless fluff.
Congress enacted amendment of the FCRA by passage of FCRA 605(c) back in 1998 to put this issue to rest.
Ignore ANYTHING and EVERYTHING the collection agency has posted in their reportings to the CRAs. A CA can do nothing, zip, nada, to reset the statutory drop offf date of their reporting to your CR.
Just read FCRA 605(c), as it amended FCRA 605(a)(4), and the answer is simple. It goes back only to the original creditor account.
It works, in plain English, like this.
Haul out your records with the original creditor. Ignore the CA. Find the date that you FIRST went into default with the original creditor (OC), which is usually the date of your 30-day late from which you never thereafter brought the account back into paid, goood standing with the OC before they did a charge off, collection, or whatever.
That is what is commonly referred to as your date of first default (DOFD). on the OC account. Again, nothing at ALL to do with the CA reporting.
FCRA 605(c) mandates that any collection or charge off can only remain in your credit report for 7 1/2 from the date of that DOFD on the OC account. That is rock-solid law.
Your documentation is records with the orginal creditor, not with any CRA or collection agency.