Collection Account falling off?

[Anonymous]

I have done some searches and i havent found anything that will tell me exactly what i need to know...

1.) I have an account that opened in april 2010 and was pretty much derogatory from the start...i know it falls off in seven years but 7 years from when? (i was told each late stays on 7 years but i dont feel like that is accurate but i could be wrong)

2.) I see people say "I had a collection set to come off 01/01/01" do they know based on the answer from the first question or is there actually a place that shows you that because i haven't seen it.

These may seem like silly questions and again i have searched about accounts falling off but didnt see from what date

[rmduhon]

Was the account ever charged off? Or just a bunch of lates? If it was charged off then it'll fall off 7 years from the DoFD (Date of First Delinquency) which is the first late on the account that led to the charge off. If the account was ever brought current after that then you could have a new DoFD. The DoFD or estimated date of removal will be on your credit reports but not a commercial report or a monitoring site. If it's just a bunch of lates then each late will fall off 7 years after the late occurred.

[RobertEG]

When a debt collector reports a collection, they are required under FCRA 623(a)(5) to additionally report the date of first delinquency on the OC account (DOFD) to the CRA no later than 90 days after the date they report their collection.  Section 623(a)(5) describes the procedures to be used by a debt collector in obtaining and reporting the DOFD.

The CRA then monitors the reported DOFD, and is responsible for excluding the collection from the consumer's credit report no later than 7 years plus 180 days from the reported DOFD.  The CRAs will normally exclude at approx 7 years, thus providing their own early exclusion of approx 6 months.

[Anonymous]

The card was opened, charged, and then never paid ever so it was delinquent from the start. So first month on credit shows 30 day it would be 7 years from then?

[RobertEG]

For an account that became delinquent and was never returned to good-standing, the date of your first delinquency would be the month/year of the first billing due date that you became delinquent on.

A first reported 30-late is another 30 days after the billing due date.

Thus, a reported 30-late is usually one month after the actual DOFD.  If the exclusion date has expired from the reported 30-late, then you are assured that the exclusion period from the DOFD will also have expired.

The collection is required to become excluded no later than 7 years plus 180 days from that DOFD.

The CRAs normally exclude at approx 7 years from DOFD, but do not become in violation until the expiration of the full 7 years plus 180 day period from the DOFD.

The "expected to fall off" date that is commonly provided in commercial credit reports is typically 7 years from the DOFD.