6 1/2 years, or 7 years? When should I dispute to get this last nagging collection off my report?

[drewsg3]

I've heard conflicting reports. Some people say you have to wait 7 years, some say after 6 1/2 years?

I have one last medical debt reporting to all credit bereaus with a DOFD 02/2010.. if that's the case, it falls within the 6 1/2 years.. can I dispute it to get it removed?

[SunriseEarth]

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@drewsg3 wrote:

I've heard conflicting reports. Some people say you have to wait 7 years, some say after 6 1/2 years?

I have one last medical debt reporting to all credit bereaus with a DOFD 02/2010.. if that's the case, it falls within the 6 1/2 years.. can I dispute it to get it removed?

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If the TL is reporting correctly, we do not recommend disputing in the hopes of removal.   The CRA would review and likely verify the TL is reporing correctly and then update; the dates won't change, but it will still appear as "recently" reported and can potentially harm your FICO scores.   If all other information is correct, these debts shouldn't be disputed until you have reached the 7 year mark since DOFD.  

Has your debt been paid/settled?   If so, then you may want to write GW letters to request removal (these are sent to whomever is reporting the debt).   If you have not paid the debt and you are past SOL, they might be open to PFD.  

Early Exclusion is where you ask the CRAs directly if they can remove the TL before the 7 year mark.  IME, early success is best with TU (some report success as early as 6 months ahead of the falloff date).  EX may remove a month early, and EQ rarely removes early (although the TL might fall off about a month prior).   I usually suggest EE be used after other options prove unsuccessful.   Remember that EE is a form of GW given by CRAs; they are under no obligation to oblige.

[Anonymous]

I called yesterday for things that were falling off in January and February.  I had mixed results, 3 out of 4 early exceptions were removed.  So it doesn't hurt to spend about 15 minutes with each bureau on the phone.  make sure you ask to speak to a supervisor!!!  Right away, don't waste any time talking to the first line person.

[RobertEG]

The maximum exclusion date for a collection is set, under FCRA 605(c), as no later than 7 years plus 180 days from the DOFD.

Thus, there is no statutory basis for disputing the continued showing of a collection until 7 years plus 180 days after the DOFD.

The CRAs can choose to exclude earlier than the full statutory max, and routinely do so.

The additional 180 days added to the 7 years is there for reasons that I wont go into unless you want the full scoop.

That reason usually does not apply to most collections, so the CRAs routinely exclude using 7 years from DOFD.

They also will, if requested, often grant up to an additional 6 months, leading to the possible exclusion at approx 6 1/2 years that you refer to.

A collection with a DOFD of 2/2010 thus must become excluded by the CRAs after 08/2017.

You would only have basis for a dispute after that date.

They will provide an estimated exclusion date of approx. 2/2017, and might, if contacted, grant an additional, voluntary early exclusion at this time.

[Anonymous]

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@RobertEG wrote:

The maximum exclusion date for a collection is set, under FCRA 605(c), as no later than 7 years plus 180 days from the DOFD.

Thus, there is no statutory basis for disputing the continued showing of a collection until 7 years plus 180 days after the DOFD.

The CRAs can choose to exclude earlier than the full statutory max, and routinely do so.

The additional 180 days added to the 7 years is there for reasons that I wont go into unless you want the full scoop.

That reason usually does not apply to most collections, so the CRAs routinely exclude using 7 years from DOFD.

They also will, if requested, often grant up to an additional 6 months, leading to the possible exclusion at approx 6 1/2 years that you refer to.

A collection with a DOFD of 2/2010 thus must become excluded by the CRAs after 08/2017.

You would only have basis for a dispute after that date.

They will provide an estimated exclusion date of approx. 2/2017, and might, if contacted, grant an additional, voluntary early exclusion at this time.

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If one were to dispute at 6 1/2 yrs with supporting documents stating the DOFD is almost 7yrs old, could the derog be removed at the 6.5yr period by the CRA's or is that wishful thinking?

How exactly does the +180day rule apply?

[Anonymous]

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@Anonymous wrote:

If one were to dispute at 6 1/2 yrs with supporting documents stating the DOFD is almost 7yrs old, could the derog be removed at the 6.5yr period by the CRA's or is that wishful thinking?

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Wishful thinking, there is nothing to dispute until 7 years plus 180 days.  Any less is an act of goodwill and is not obligated at all.  SunriseEarth just explained that.