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CO / CA Fall Off Concern

Contributor

CO / CA Fall Off Concern

I have a charge off account from April 2010. I know it will fall off 7.5 years after DOFD. So roughly April 2017. My question is --- does this mean that the CA account for this will also have to fall off 7.5 years after DOFD with the OC, so (April 2017), as well? 

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Community Leader
Epic Contributor

Re: CO / CA Fall Off Concern

Yes, the DOFD applies equally to both charge-off and collection exclusion.  Both have the same exclusion date.  FCRA 605(c).

 

What "falls off" is the continued inclusion of the adverse item in your CR.  For OC accounts, it is the adverse item, such as the CO, which is excluded.  The account itself does not "fall off" based on expiration of any credit report exclusion date of adverse items reported under the account.  It can, if all other adverse items have also been excluded, then become a positive account.

 

Collections are different.  The reporting of the collection itself is the adverse item, so it is excluded upon expiration of the 7 yrs + 180 days from DOFD on the OC account.

Collections are not really "accounts" of the consumer, they are adverse reportings based on the OC account.

 

Message 2 of 3
Contributor

Re: CO / CA Fall Off Concern


RobertEG wrote:

Yes, the DOFD applies equally to both charge-off and collection exclusion.  Both have the same exclusion date.  FCRA 605(c).

 

What "falls off" is the continued inclusion of the adverse item in your CR.  For OC accounts, it is the adverse item, such as the CO, which is excluded.  The account itself does not "fall off" based on expiration of any credit report exclusion date of adverse items reported under the account.  It can, if all other adverse items have also been excluded, then become a positive account.

 

Collections are different.  The reporting of the collection itself is the adverse item, so it is excluded upon expiration of the 7 yrs + 180 days from DOFD on the OC account.

Collections are not really "accounts" of the consumer, they are adverse reportings based on the OC account.

 


Thank you for clearing that up. Also, If I am currently making monthly payments to the CA....does the CA still get excluded upon expiration of the 7yrs + 180 days from DOFD on the OC ?

 

 

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