CC account "CLOSED" for 7+ years, but still paying off . . .

[Pigeyex]

I sent an inquiry to Equifax itself about this, and this is what they said:

Thank you for contacting myFICO Customer Care. As the lender is still reporting to the credit bureaus, the date that will start the 7 years, will be the date that it initially became negative. If you still have issues, please call 1-800-319-4433 (Monday-Friday 6:00 AM – 6:00 PM, Saturday 7:00 AM – 4:00 PM Pacific Time) so that we may assist you further.

Regards,
myFICO Customer Care
www.myFICO.com

Isn't the first time it hit 60 days late -- only to never be brought current again -- how they determine DOFD?

My free annual credit report -- as well as my Equifax FICO report -- show "July 2007" as the date that the credit union closed my account.  It looks like I FIRST became 60 days late in Nov 2008, right before I hit 90 days late in Dec 2008.  However, I then brought the account current apparently (monthly remarks are showing as "OK") until May 2009, when I was 30 days late again.  Then, all "OK" again until another 30 days late in Nov 2009, followed by a 60 days late in Dec 2009.

Everything was then either "OK" or "30" days late off and on until Mar 2011, after which I paid on time every single month until now.

I sent Equifax a reply asking "what ARE you showing as my date of first delinquency?  Because according to my records it was in early to mid 2007," and we'll see what they say.  But I'm wondering if they determined that I cured my delinquency in Jan 2009 - Dec 2009?

I have gotten absolutely NOWHERE with my credit union, getting them to either GW delete the tradeline completely, or -- alternatively -- to reinstate my card, so that I can get the "CARD REVOKED BY LENDER" notation taken off my report and I get at least take advantage of the CL in my utilization.  Despite having had several other installment loans with them since then -- ALL PAID ON TIME -- and being a current savings/checking customer, they have steadfastly refused to do either. 

I'm wondering now if I might have a better chance of success in getting EQUIFAX ITSELF to delete this, claiming that it's been more than 7 years since my DOFD.

Pigeye

[Anonymous]

---

@Pigeyex wrote:

I sent an inquiry to Equifax itself about this, and this is what they said:

Thank you for contacting myFICO Customer Care. As the lender is still reporting to the credit bureaus, the date that will start the 7 years, will be the date that it initially became negative. If you still have issues, please call 1-800-319-4433 (Monday-Friday 6:00 AM – 6:00 PM, Saturday 7:00 AM – 4:00 PM Pacific Time) so that we may assist you further.

Regards,
myFICO Customer Care
www.myFICO.com

Isn't the first time it hit 60 days late -- only to never be brought current again -- how they determine DOFD?

My free annual credit report -- as well as my Equifax FICO report -- show "July 2007" as the date that the credit union closed my account.  It looks like I FIRST became 60 days late in Nov 2008, right before I hit 90 days late in Dec 2008.  However, I then brought the account current apparently (monthly remarks are showing as "OK") until May 2009, when I was 30 days late again.  Then, all "OK" again until another 30 days late in Nov 2009, followed by a 60 days late in Dec 2009.

Everything was then either "OK" or "30" days late off and on until Mar 2011, after which I paid on time every single month until now.

I sent Equifax a reply asking "what ARE you showing as my date of first delinquency?  Because according to my records it was in early to mid 2007," and we'll see what they say.  But I'm wondering if they determined that I cured my delinquency in Jan 2009 - Dec 2009?

I have gotten absolutely NOWHERE with my credit union, getting them to either GW delete the tradeline completely, or -- alternatively -- to reinstate my card, so that I can get the "CARD REVOKED BY LENDER" notation taken off my report and I get at least take advantage of the CL in my utilization.  Despite having had several other installment loans with them since then -- ALL PAID ON TIME -- and being a current savings/checking customer, they have steadfastly refused to do either. 

I'm wondering now if I might have a better chance of success in getting EQUIFAX ITSELF to delete this, claiming that it's been more than 7 years since my DOFD.

Pigeye

---

The DoFD really only applies when an account is charged off. If an account goes deliquent, and is subsequently brought current - EVEN THOUGH ITS CLOSED TO FURTHER CHARGES - then the account itself does not have a DoFD, it just has some reported lates which will drop off individually at their 7 year mark.

[RobertEG]

+1

Technically, you always have a DOFD once an account first becomes delinquent, but the only purpose of DOFD in credit reporting is to fix the date used by a CRA to calculate the ultimate exclusion of a charge-off or collection.

Accordingly, there is NO requirement for reporting of a DOFD unless and until a furnisher has first reported either a CO or collection.

That then triggers a 90-day period within which they must report the DOFD.  See FCRA 623(a)(5).

As was stated in the  prior post, snce there is no reported CO or collection, there is no requirment for a DOFD to have been reported, as it is immaterial to credit reporting.

Additionally, it still appears to me that the account was delinquent since 2007 when it became 90-late.

It was closed at that time, so once the delinquency was paid, no new balance could occur, and thus no new delinquency.

The payments thus appear to have been against the amount of the delinquent debt, which was never brought current.

Reporting of OK over many months most likely means they did not report those months, not that the account was no longer delinquent.

Is that the actual history of account status, regardless of how their reporting is interpreted?

[Pigeyex]

Thanks for the feedback, gentlemen.  Your counsel pretty much matches what my buddy at the credit union (a branch manager and friend) is telling me in looking at my recent credit report.  He's saying that the comment ("ACCOUNT CLOSED BY CREDIT GRANTOR") doesn't affect my score, and isn't even necessarily a negative since there can be multiple reaons (other than default) that they will close an account, including by mutual agreement with a borrower sometimes.

He also said that his opinion was that the major derogs would fall off one at a time when each of them hit the "7 years in my rear-view mirror" mark, and to just let this be since the high credit limit ($10k) was probably helping my utilization as well as the date opened (2001) with my AAofA.

It's also a very low APR (9.74%), so I'm just going to keep making the minimum monthly payments and let this TL age.

thanks,

PIgeye