asking for early drop off

[djc225]

how do i initiate a request for an early drop off of an account and when should i do so?  i have some accounts that are set to drop off in august and september of this year.  can i just call the customer service 800 number and ask to remove early?  when should i call?

also i have one account where TU says it will drop off in 2016, ex says it will drop off in 2018.  Can i get EX ti use the TU data and drop if off early?

[RobertEG]

Accounts, or derogs reported under the accounts?

[djc225]

Yes there is late history under these accounts. All credit cards. Dofd does not show on each credit bureau, and I got my reports direct from them. I also have 3b report from myFICO. Looks like dofd is 9/2011

[RobertEG]

The DOFD does not apply to the exclusion of monthly delinquencies.  DOFD only applies to charge-offs and collections.

Monthly delinquencies each have their own exclusion date of no later than 7 years from the month/year of the reported dellinquency.

Derogs usually must be within 6 months of their normal exclusion dates before the CRAs will grant any earlier exclusion.

Thus, I suggest you first make a listing of the effective date, and concurrent exclusion period, for each derog before requesting its early exclusion.

[djc225]

"Monthly delinquencies each have their own exclusion date of no later than 7 years from the month/year of the reported dellinquency.

what if there are multiple delinquencies? what date is used?  for examples purouses assume opened jan 2010, 30 late feb 2010, 90 late april 2010, account closed dec 2010. never charged off or collection.  settled for less than full balance.

Which date would this trade line drop off?

if charge off or sent to collection, is it 7 years from date of the charge off?

thanks for the help

[RobertEG]

FCRA 605(a) governs the exclusion of adverse items of information reported, not accounts.

Each monthly delinquency is its own adverse item which has its own exclusion date of no later than 7 years from its date of occurence.

Once all monthly delinquencies become excluded, the account will continue to be included in the consumer's credit report unless the creditor specifically reports its deletion.

Collections and charge-offs are exlcuded no later than 7 years plus 190 days from one single date-certain, which is the date of first delinquency on the OC account.

The date that a charge off was taken or reported or the date a collection is reporte is not relevant to its credit report exclusion. 

The CRAs rountinely grant their own early exclusion of charge-offs and collections at approx 7 years from the DOFD, so request for early exclusion sent to a CRA is actually a request for an additional, and earlier, exclusion date than normal.