CREDITOR CHANGES DOFD AFTER IT FALLS OFF SO IT REAPPEARS ON EQUIFAX

[nycsimone]

I had a repo through Carmax years ago. The DofD on my credit report ALWAYS reported as 02/2007 and finally fell off my credit report in January. Now, all of a sudden it reappears with a DofD of 06/2007. So I dispute it with Equifax and give them copies of my past credit reports showing the 02/2007 as the DofD. So Equifax does their investigation and now completely removes the DofD (says N/A) and keeps it on my report. **bleep**???? All they changes was the "status" from repossession to paid as agreed but still shows under negative account listed as a reposession. I want this gone off my credit report...as it's beyond the 7 years.

What are my options now?

Here is the before and after...

BEFORE:


AFTER:

[TheGardner]

Contact the original creditor explain they are in violation of the FCRA and kindly ask them to remove it. They usually will as they don't want to be sued.

[gdale6]

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@TheGardner wrote:

Contact the original creditor explain they are in violation of the FCRA and kindly ask them to remove it. They usually will as they don't want to be sued.

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+1 and if the OC gives you any guff file complaints with the FTC & CFPB.

[nycsimone]

I contacted Carmax and as expected they said they couldn't help me because the account was so old and charged off blah blah blah. So today I filed a complaint with the CFPB and gave them the screenshots of the before and after credit report. Let's see how this goes...

[RobertEG]

Upon reading the two reportings, it would appear to me that the updated reporting is now in full com[iance with the FCRA.

It now shows exclusion of any reference to the repo, which assuming the repo was an act that resulted in some charge to profit and loss, would have become excluded no later than 7 years plus 180 days from the previously reported DOFD.  That has occured. 

While it is asserted that the repo still shows under the account, that is not shown on the report provided.

Since reprting of a DOFD is only required after reporting of a CO or its equivalent or of a collection referral by an OC, no longer showing the DOFD similarly remves from the credit report any indication of such a prior averse action.  Thus, its removal would clearly be additional ensurance by the CRA that the report now iexclude any referecne to any charge to profit or loss or simalar action.  It is additionally unclear as to whether the repo resulted in any charge on their part to profit or loss, and thus whether DOFD is even relevant, and thus whether exclusion was based on a normal 7 years from the adverse item.

Exclusion of any adverse information relates only to that information.

Neither the entire account nor other non-adverse information becomes excluded based on exclusion of an adverse item.

I do not see a violation based on what is now reporting.

[nycsimone]

The account is still listed in the Equifax credit report under the "collections" tab indicating a negative account. Also, the history shows the account being as a repo this entire time until this last month.

Previously, the account was deleted in it's entirety from my credit report. It now showed up again.

[RobertEG]

Isn't Carmax the OC?

Regardless of the tab under which it appears, if it they are the OC, the monthy payment history reflects their reporting.

You can continue to be delinquent in subsequent months whle the debt remains unpaid, with each new monthly delinquency having its own 7 year exclusion period.

All subsequent monthly delinquencies are not excluded based on DOFD.  If after repo they sold the vehicle and recoupted all remaining debt, that would end debt obligatin.  How was the repo resolved in the final debt accounting?

The real issue appears to be whether their continued reporting is equivalent to a charge to profit and loss, and thus excluded based on DOFD, or are reporting of any other adverse item tha continued after the repo, whiich are not excluded until 7 years from their dates of occurence.

If they did no such chargeof delinquent debt  to profit and loss, then teh repo would not be based on DOFD, and if the debt remained unsatified at least in part, vurther delinquencies could continue.

Perhaps their reporting may need additonaly update to change R aato a 120+ or 150+ monthly late.

However, it does not appear that any and all derogs are pegged to DOFD.

[nycsimone]

The date of first delinquency was 02/2007. In 2008 I settled the account with them. Meaning they took less than full payment on the account.

Why does all this matter? Isn't all this negative information supposed to be deleted from your report 7 years after the DofD? Any other accounts i've had that went into collections simply dissapeared after 7 years from the DofD...why would this be different?

[guiness56]

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@nycsimone wrote:

The date of first delinquency was 02/2007. In 2008 I settled the account with them. Meaning they took less than full payment on the account.

Why does all this matter? Isn't all this negative information supposed to be deleted from your report 7 years after the DofD? Any other accounts i've had that went into collections simply dissapeared after 7 years from the DofD...why would this be different?

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No, the entire account does not have to be removed, only the negative indicator, such as a CO, collection or repo.  The OC may keep the TL reporting if they choose to do so, minus the negative indicators.

It is the CRA that removes the negative indicators and would be entirely up to the creditor if they want to remove the TL or not.

[nycsimone]

The negative indicators are still there. The history all still shows the repo, and it's listed as a negative account. There is no positive info here, the account became delinquent 1 month after it was opened.