New Activity on a Long-Ago Closed Account

[prodwel1]

I had a charge-off account with Dell Financial Services in 2004. The account was charged off and i paid it in full in 2004 before the amount went to collections (even thought it was charge-off, I was able to pay the balance directly to Dell). Needless to say, the balance was reported as $0, the account was closed, etc. in 2004. And it stayed that way.... until recently. I got a ScoreWatch alert for New Activity on an old account and the new activity is simply a description change only. Here is what the ScoreWatch alert reported (see below). Until this alert - the DOLA was 10/1/2004 - which meant that this negative account would drop off my record next year in 10/2011. Now that the DOLA is 2009 - does that mean my score will be negatively affected for another seven years? Why would Dell make a change to the description 5 years after the account was paid in full and closed? I'm working hard to rebuild my credit and I don't want an administrative thing like this to get in my way...

	Previously reported	Newly reported
Balance:	$0	$0
Past due:	$0	$0
Status:	Pays account as agreed	Pays account as agreed
Last activity:	10/1/2004	3/1/2009
Description:	Account closed by consumer Charge Amount in H/C column is credit limit	Closed or Paid Account/Zero Balance Charge Amount in H/C column is credit limit

[MarineVietVet]

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@prodwel1 wrote:

I had a charge-off account with Dell Financial Services in 2004. The account was charged off and i paid it in full in 2004 before the amount went to collections (even thought it was charge-off, I was able to pay the balance directly to Dell). Needless to say, the balance was reported as $0, the account was closed, etc. in 2004. And it stayed that way.... until recently. I got a ScoreWatch alert for New Activity on an old account and the new activity is simply a description change only. Here is what the ScoreWatch alert reported (see below). Until this alert - the DOLA was 10/1/2004 - which meant that this negative account would drop off my record next year in 10/2011. Now that the DOLA is 2009 - does that mean my score will be negatively affected for another seven years? Why would Dell make a change to the description 5 years after the account was paid in full and closed? I'm working hard to rebuild my credit and I don't want an administrative thing like this to get in my way...

	Previously reported	Newly reported
Balance:	$0	$0
Past due:	$0	$0
Status:	Pays account as agreed	Pays account as agreed
Last activity:	10/1/2004	3/1/2009
Description:	Account closed by consumer Charge Amount in H/C column is credit limit	Closed or Paid Account/Zero Balance Charge Amount in H/C column is credit limit

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Hello and welcome.

The DoLA is not the applicable date. What you need to know is the DoFD (Date of First Delinquency). That is the date of the first delinquency that led to the CO itself. The DoLA can be changed but the DoFD will always be the same.

So once you detemine the DoFD you can figure out when the CO will drop off.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[RobertEG]

+1.

That is what FCRA 605(c) is all about.  It fixes one single, date- certain, for CR drop off deletions, and that date has absolutely nothing to do with what any CA reports to your credit file.

DOLAs are meaningless. As are any dates of payment,or non-payment.

Just go back to the OC account, and ignore anythging the CA had posted. 

All that matters for deletion of any CO or CA is the DOFD on the OC account.

DOFD on the OC account was the first date, in the most recent chain of delinquencies with them, in which you went delinquent before any CO or CA is reported.

Add six months to that date of DOFD, and that is its date of running for CR deletion.  ONce seven years plus six months has expried from the establshed DOFD, then FCRA 605(c) requries its deltion from credit reporting.   NO RESET based on any other dates.

If they did a CO back in 2004, the DOFD on the OC acount that preceded the CO was probably many months prior.  It may be gone or soon to be.

This is now 11/2010.  Any DOFD prior to 5/2003 would now be a prohibition of continued inclusion in your CR  of any CO or CA.  Period,.