Help me understand DoFD

Anonymous · ‎07-17-2017

I was looking at my credit report on MyBankRate and I am trying to figure out when stuff will drop off in hopes that it will help my score. I know I should just pull my annual credit report but I have some disputes in and I am waiting for those to finish.

One of my accounts has two 30 day late payments in November and December of 2010. From my uderstanding that means those two late payments will disappear come November and December of this year.

Another one has a 30 and 60 day late. Some are from 2010 and others are from 2011. Does this mean the ones from 2010 will drop off first and then the ones from 2011 will drop off later or does it all drop off from the very first late payment?

I guess my question is will the entire account drop off in November or does it go month by month for each negative mark on my credit score.

RobertEG · ‎07-17-2017

The date of first delinquency on the OC account (DOFD) applies ONLY to the exclusion of a reported charge-off or collection.

DOFD does not apply to the exclusion of monthly delinquencies.

A reported monthly delinquency must become excluded no later than 7 years after its date of occurence. See FCRA 605(a)(5).

DOFD is only reported if a charge-off or collection is reported.

A charge-off or collection must become excluded no later than 7 years plus 180 days after the DOFD.

See FCRA 605(c), which modifies FCRA 605(a)4) relating to exclusion of collections and charge-offs only.

RobertEG · ‎07-17-2017

The date of first delinquency on the OC account (DOFD) applies ONLY to the exclusion of a reported charge-off or collection.

DOFD does not apply to the exclusion of monthly delinquencies.

A reported monthly delinquency must become excluded no later than 7 years after its date of occurence.

DOFD is only reported if a charge-off or collection is reported.

A charge-off or collection must become excluded no later than 7 years plus 180 days after the DOFD.

Anonymous · ‎07-17-2017

@RobertEG wrote:
The date of first delinquency on the OC account (DOFD) applies ONLY to the exclusion of a reported charge-off or collection.
DOFD does not apply to the exclusion of monthly delinquencies.

A reported monthly delinquency must become excluded no later than 7 years after its date of occurence.

DOFD is only reported if a charge-off or collection is reported.
A charge-off or collection must become excluded no later than 7 years plus 180 days after the DOFD.

Ok so from my understanding then those things will drop off in November and December and the rest will drop off in a few months after that, which whould help me.

Now some have charge offs from 2011 so they will not be removed until 2012 so they won't drop off until 2019?

RobertEG · ‎07-17-2017

If a creditor reported a charge-off in 2011, then the DOFD must, by definition, have preceded that date.

A DOFD must always precede the date of the related charge-off, and will be the first delinquency in the most recent chain of delinquencies that included the charge-off.

A charge-off is usually taken around 4-6 months after the DOFD.