7 years from when?

[Krakinaces]

Help?

I'm hoping some of you more knowledgeable folk can help me out. I'm confused by the date of first delinquency bit. None off my reporst seem to list that specific date.

Below, i see 60 days late Oct 2008. To me this is my first delinquency. Is this the date that starts the 7 year clock?

If so....does just the 60 day late come off 7 years after that or the whole trade line?

I have two virtualy identical trade lines for two different loans. I rehabbed these and are current with NAVIENT

Your help is greatly appreciated!!

Thanks!

                     Account #             Recent balance    Date opened

WF EFS     954444236919....     Not reported         07/2005

PO BOX 84712
SIOUX FALLS SD 57118
800 658 3567
Address identification number
0737803788
Type
Education
Terms
91 Months Credit limit or original amount
$3,391
High balance
$0
Monthly payment
$0
Date of status
03/2011
First reported
09/2008
Responsibility
Individual
Creditor's statement
Account transferred to another lender.
Reinvestigation information
This item was updated from our processing of your dispute in Apr 2015.

Account history
2011


Payment history guide

180 days past due as of Feb 2011, Feb 2009 to Apr 2009
150 days past due as of Jan 2011, Jan 2009
120 days past due as of Dec 2010, Dec 2008
90 days past due as of Nov 2010, Nov 2008
60 days past due as of Oct 2010, Sep 2010, Oct 2008

[gdale6]

---

@Krakinaces wrote:

Help?

I'm hoping some of you more knowledgeable folk can help me out. I'm confused by the date of first delinquency bit. None off my reporst seem to list that specific date.

Below, i see 60 days late Oct 2008. To me this is my first delinquency. Is this the date that starts the 7 year clock?

If so....does just the 60 day late come off 7 years after that or the whole trade line?

I have two virtualy identical trade lines for two different loans. I rehabbed these and are current with NAVIENT

Your help is greatly appreciated!!

Thanks!

                     Account #             Recent balance    Date opened

WF EFS     954444236919....     Not reported         07/2005

PO BOX 84712
SIOUX FALLS SD 57118
800 658 3567
Address identification number
0737803788
Type
Education
Terms
91 Months Credit limit or original amount
$3,391
High balance
$0
Monthly payment
$0
Date of status
03/2011
First reported
09/2008
Responsibility
Individual
Creditor's statement
Account transferred to another lender.
Reinvestigation information
This item was updated from our processing of your dispute in Apr 2015.

Account history
2011


Payment history guide

180 days past due as of Feb 2011, Feb 2009 to Apr 2009
150 days past due as of Jan 2011, Jan 2009
120 days past due as of Dec 2010, Dec 2008
90 days past due as of Nov 2010, Nov 2008
60 days past due as of Oct 2010, Sep 2010, Oct 2008

---

There is no DoFD with this account as it was never COed, the lates will each drop off at the 7 years mark until it becomes a positive account. Since its closed it will remain up to 10 yrs post close.

[RobertEG]

I agree with gdale that DOFD is only material if the debt has either been charged-off or referred for collection.

The ONLY relevance of DOFD in credit reporting is to define the begin date of the exclusion perod for either a collection or charge-off.

As an aside, I dont see clear showing from the posted reporting that the debt was ever paid.

It appears to have reached 180 days delinquent as of Feb 2009.

What happened after that date? 

They may have been required to take a CO if the debt remained delinquent after reaching 180 days late, but have not yet reported it to your creidt report.

Was the debt paid?  The reproting of an additonal 60-late in 2010 would indicate contnued delinquency until at least that date, and thus possibility of a charge-off.

The DOFD that would become pertinent to any charge-off that they might still report would be the first delinquency in the chain of delinquency that immediately preceded the date they took the charge-off.  Thus, until they report a CO, one could not determine the begin date of the most recent chain of delinquency that immediately preceded that charge-pff. 

Can you amplify on the periods of delinquency and payment status of the debt?

[Krakinaces]

Thank you for the responses!

I get it now!

Ok, so.... The late pays did in fact continue up and until the loan was "Transferred to Another Lender". That took place in 2011 and it went to ACS where I defauted on that account. I was then offered a chance to "Rehabilitate" the loan. Once I did so all the late payments and the fact that I defaulted with ACS were deleted. I now pay NAVIENT who used to be Salie Mae. I'm current. My hope was to get a reprieve from my carelessness of the past. 

So what I'm understanding is that this will in fact report late pays up until 2018 at the earliest, dropping some off as we go...... Damnit!

Wish I cared back then as much as I do now.....

Thanks!

[gdale6]

---

@Krakinaces wrote:

Thank you for the responses!

I get it now!

Ok, so.... The late pays did in fact continue up and until the loan was "Transferred to Another Lender". That took place in 2011 and it went to ACS where I defauted on that account. I was then offered a chance to "Rehabilitate" the loan. Once I did so all the late payments and the fact that I defaulted with ACS were deleted. I now pay NAVIENT who used to be Salie Mae. I'm current. My hope was to get a reprieve from my carelessness of the past. 

So what I'm understanding is that this will in fact report late pays up until 2018 at the earliest, dropping some off as we go...... Damnit!

Wish I cared back then as much as I do now.....

Thanks!

---

You can attempt to remove the lates with GW letters to the reporting entity..    http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...