When does a derogatory account come off my report

[Chilly40]

I checked my cr and it shows a derogatory account. The date of the last activity is 5/2004 but the date reported is 6/2006 I know the derog will stay on my cr for 7 yrs but what date will they go by?? The date of last activity or the date reported? Any help would be greatly appreciated. Thanks

[Anonymous]

what's the nature of the derog??  Be it a late, co or collection account?

Late is 7 years fromt the date posted of the late for all lates ex. 30, 60, 90

Charge off is 7-7.5 years from the date of first delinquency.  They have time to charge off up to 180 after dofd which will directly result in drop off date.

Collection is 7-7.5  years from dofd.  Same as charge off date based on when the original delinquency happened from which the account was not brought back current.

A collection should not lag the Original account by more than 6 months this would result in an obvious case of re-aging the debt nor should it exceed the length of the original account if the oc account is scheduled to drop off after 7&half years.

Niether of those two dates you mentioned are factored into the drop off date

[Chilly40]

On equifax it's shows as 120 days late and on t/u it's showing as a collection account. Is there a way I can find out the dofd?. I don't see it on my report. Thanks for your help.

[MarineVietVet]

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@Chilly40 wrote:
I checked my cr and it shows a derogatory account. The date of the last activity is 5/2004 but the date reported is 6/2006 I know the derog will stay on my cr for 7 yrs but what date will they go by?? The date of last activity or the date reported? Any help would be greatly appreciated. Thanks

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Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency. The date of first delinquency (DOFD) has nothing to do with these drop-off dates. They drop from their own individual dates. So look at each prior OC reported monthly derog date, and simply add 7 years.

The DOFD (Date of First Delinquency) is used to determine when a charge off or collection will drop off but you'll get varied opinions as to how long that time is. I’ve found at least three different views:

1. It is 7.5 years for both charge offs and collections.
2. It is 7 years for a collection and 7.5 years for a CO.
3. All accounts in CO or collection will come off after 7 years.

Or is some other kind of derogatory such as a tax lien or judgement?

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[MarineVietVet]

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@Chilly40 wrote:
On equifax it's shows as 120 days late and on t/u it's showing as a collection account. Is there a way I can find out the dofd?. I don't see it on my report. Thanks for your help.

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Reports from third party sites often don't have the most complete information. If you pull your free reports from annualcreditreport.com Experian and Transunion will have the drop off dates. The Equifax report will show the actual DOFD.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[Chilly40]

On equifax it's shows as 120 days late and on t/u it's showing as a collection account. Is there a way I can find out the dofd?. I don't see it on my report. Thanks for your help.

[Chilly40]

Thanks everyone!! I got my report off of Fico . So I guess the good news is that it's not the date reported 6-2006 . So it has to be closer to the date of 2004 since I am pretty sure I never made any payments on this account since it became delinquent. I will check my annual credit report and see if I can find the date it will drop off.

[Anonymous]

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@MarineVietVet wrote:

Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency. The date of first delinquency (DOFD) has nothing to do with these drop-off dates. They drop from their own individual dates. So look at each prior OC reported monthly derog date, and simply add 7 years.

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Yeah this is what I meant but this is much more clearly stated.  I could see you didn't want to leave any confusion out there in ficoland.

[Chilly40]

I just checked a copy of my report from annualcreditreport.com, I printed it last year.  For some reason it  I can only find the printed report from T/U, anyway it says "estimated  date this item will be removed 4/2011.   So will it just drop off automatically around that date or do i need to take some action to get it off?   Is it likely that it will drop off Equifax and Experian around that time also??     Thanks again for all the help.  

[MarineVietVet]

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@Chilly40 wrote:

I just checked a copy of my report from annualcreditreport.com, I printed it last year.  For some reason it  I can only find the printed report from T/U, anyway it says "estimated  date this item will be removed 4/2011.   So will it just drop off automatically around that date or do i need to take some action to get it off?   Is it likely that it will drop off Equifax and Experian around that time also??     Thanks again for all the help.  

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IME they disappeared without any action on my part but check and make sure it actually is removed. And it should drop off all three CRA's at the same time but again always verify that it does.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work