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From what I am understanding Charge offs fall off at 7 years Collections after 7.5 years? If so I have a charge off that should of dropped off 14 days ago, should I dispute this?
@dodgeball wrote:From what I am understanding Charge offs fall off at 7 years Collections after 7.5 years? If so I have a charge off that should of dropped off 14 days ago, should I dispute this?
Actually both CO's and collections can report for up to 7.5 years from the DoFD.
They have the exact same maximum date for CR exclusion... 7 years plus 180 days from DOFD on the OC account.
If more than 7 years plus 180 days has expired, and either a charge-off or collection is still appearing in your CR, then the issue is who is at fault.
The CRAs can only calculate CR exclusion based on the accuracy of the DOFD reported to them.
If your CR shows a reported DOFD that is incorrect, and the 7yr/180 day period from that date has not run, then the party who reported the incorrect DOFD is at fault.
Address that by disputing the accuracy of their reporting.
However, if your CR shows a reported DOFD that is more than 7yr/180 ago, and it is still appearing in your CR, the accuracy of reporting is not the issue. Thus, I would not dispute the accuracy of reporting. The fault would then rest with the CRA for non-compliance with FCRA 605(c). The procedure would then be to file a complaint with the CRA for violation of FCRA 605(c). No need to junk up your file with a dispute flag.