If you simply read the statement of exclusion dates for charge-offs and collections, as stated in the ortginal FCRA 605(a)(4), it is nebulous as to when the 7 year period begins.
That, for years, led to reset of running of the exclusion period for collections whenever a new debt collector reported a collection.
That confusion led to congress amending the FCRA decades ago by addition of secitons 605(c) and 623(a)(5), which clarified once and for all that the eclusion period for either a collection or charge-off runs from one single date-certain, which is the DOFD on the OC account.
You cant simply read the listed exclusion periods under FCRA 605(a) for definition of credit report exclusion of a collection or charge-off.
You need to additionally read the clarifying addition of sections 605(c) and 623(a)(5).
For a charge-off, also be aware that the date either that the creditor took the charge off or decided to then report it to a CRA is immaterial.
The date they took a charge-off is not even reported. The only relevant date is the DOFD that preceded their charge-off, which must be reported to the CRA no later than 90 days after reporting that they took a charge-off.
