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Charge off without a DOFD

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Anonymous
Not applicable

Re: Charge off without a DOFD

DOFD is that the same as date of last payment?

 

Message 11 of 15
RobertEG
Legendary Contributor

Re: Charge off without a DOFD

No.  DOFD has nothing to do with any payments or payment dates.

DOFD is the date you first became delinquent in the most recent chain of account delinquencies that included (preceded) the charge-off or collection.

 

For example....

You have a first delinquency in 05/2011.  You then pay the account back into pays as agreed, good standing.

You then have a new first delinquency in 11/2011.  The account thereafter remains delinquent, and they do a charge-off in 6/2012.

The DOFD is 11/2011.

 

The charge-off then has an exclusion date of no later than 05/2019.  The CRA will likely exclude after 11/2018.

 

If the creditor also hired a debt collector who reported a collection, then the collection would have the identical exclusion date.

Message 12 of 15
xaustie
New Contributor

Re: Charge off without a DOFD

My actual detailed credit reports from Experian have never shown either "Date of First Delinquency" (my Equifax reports show this) or "Estimated month and year that this item will be removed" (my TransUnion reports show this). I was always curious about that and wonder how you are supposed to get DoFD or equivalent from an EX report.

Message 13 of 15
RobertEG
Legendary Contributor

Re: Charge off without a DOFD

The sellers of commerical credit reports assume, and probably rightly so, that consumers do not understand what a DOFD is, and thus they do not include it in most commercial credit reports.  They prefer to show instead the date of estimated removal that is provided by the CRA, which is usually 7 years from the DOFD.

 

If they show neither, you can usually order your free annual copy from annualcreditreport.com when your free copy comes due.

Reports from that site are sanctioned by the FTC to meet the annual disclosure requirment of the FCRA, and thus are much more comprehensive, and usually show the reported DOFD.

 

Message 14 of 15
Anonymous
Not applicable

Re: Charge off without a DOFD


@xaustie wrote:

My actual detailed credit reports from Experian have never shown either "Date of First Delinquency" (my Equifax reports show this) or "Estimated month and year that this item will be removed" (my TransUnion reports show this). I was always curious about that and wonder how you are supposed to get DoFD or equivalent from an EX report.


On my raw EX reports from annualcreditreport.com, each item list has a statement in the status details block of "This item is scheduled to continue on record until blah blah blah..."

Message 15 of 15
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