My head hurts......

[pat2franklin]

Wow so much information out there my head hurts. My ? Has to do with the 7.5 years from DOFD. You got one person saying one thing while another says the opposite. As far as I have figured out when I read the FCRA account should be deleted after 7.5 years from DOFD. Ok, my questions are. 1 does that mean the day u were first late on the account? 2 does it apply to accounts ur still paying on or does it have to be charged off 3 does that include student loans This is my thinking about the DOFD. I think I interpret it as account should be deleted 7.5 years after the DOFD that led it to be a negative on ur credit report Wishful thinking?

[guiness56]

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pat2franklin wrote:
Wow so much information out there my head hurts. My ? Has to do with the 7.5 years from DOFD. You got one person saying one thing while another says the opposite. As far as I have figured out when I read the FCRA account should be deleted after 7.5 years from DOFD. Ok, my questions are. 1 does that mean the day u were first late on the account? It is the first time you were late and never brought the account current again.

   2 does it apply to accounts ur still paying on or does it have to be charged off   In order for it to have a DOFD it was either sent to collections or COd or something like that

  3 does that include student loans This is my thinking about the DOFD. I think I interpret it as account should be deleted 7.5 years after the DOFD that led it to be a negative on ur credit report Wishful thinking? 

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Message Edited by guiness56 on 07-31-2009 07:27 AM

[pat2franklin]

I brought the account current again, thats where I'm confused about the whole 7.5 years, the account was opened in 2000, the DOFD of the account was in 2002, now by those standards you would think they could not report the account anymore right? if they can because I brought it current again then when does the account fall off? and if you could can you point out where it says it in the FCRA pertaining to my situation

[guiness56]

Is this an open or closed account?  If they COd it, whether you made payments and brought it current does not matter. 

[Anonymous]

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@pat2franklin wrote:

I brought the account current again, thats where I'm confused about the whole 7.5 years, the account was opened in 2000, the DOFD of the account was in 2002, now by those standards you would think they could not report the account anymore right? if they can because I brought it current again then when does the account fall off? and if you could can you point out where it says it in the FCRA pertaining to my situation

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You brought the account current (meaning it is still open)?  Or you paid the account off (to settle the balance)?

As previously posted, you don't have a DOFD if you were not charged off or sent to collections.  And if you brought the account current, then you would not have a DOFD, because the definition of DOFD is the date you became late and "NEVER" became current again.

If you were late, but later became current, then the reported late must be removed at 7 years, not 7-1/2.  The 7.5 years is for debt which gets CO's or written off, or sent to collections (late/never caught up).

Message Edited by txjohn on 08-01-2009 05:33 AM