DOFD Clarification needed

[Anonymous]

Hi!

So I have read plenty of places that a CO will fall off based of the DOFD that led the the charge off. Well my date of first delinquency is reporting the original delquincy date and not the date that led to the charge off. BTW, this is a private student loan I tried to rehabilitate, I was told even though I was making payments I would still be reported delinquent every month because the account was so far behind. I stopped paying for this reason and decided to let it CO. The payments being shown in January, Feburary, March, and April there were actually not payments made by me (maybe some reporting error). However, I made payments in June, July, and August, the last one being August 2013 (still all reported delinquently) . My equifax is a 682, I am not sure that the removal of this will help, but this is my only account with late payments so I am ready to be done with. This is how it is reporting. Any thoughts on when it might fall off?

[RobertEG]

A bit confusing.

it is stated that "my date of first delinquency is reporting the original delinquency date and not the date that led to the charge off."

A date of a first delinquency on an account would always either precede or be the same as the DOFD that led to the charge-off, so if that were the case, it would have an earlier, not a later, date of exclusion.

The DOFD is defined as the date of the first delinquency in the chain of delinquency that led up to the charge-off.

If the account became and remained delinquent, then payments that did not return the accunt to a non-delinquent status would not alter the DOFD.

The creditor was required to have reported the DOFD to the CRA.  What is the DOFD that was reported by the OC?

What is the DOFD that you consider accurate, and what facts do you have to document the inaccuracy?

If you have supporting documentation, then file a dispute, either directly with the creditor, or through the CRA, and require an investigation and formal finding.

[Anonymous]

Hi Robert, the DOFD that is showing is correct. I had read some threads stating making a payment would cuase that date to change. However, the payments that I made never brought the account current. 

The only thing I would need to dispute were the months that the account is showing paid as agreed in 2013 (since I never paid these months), however, since the DOFD is correct, I am not sure if I should poke the sleeping dragon. 

[RobertEG]

The accunt should not show pays as agreed if the account is delinquent.

It should either continue to show the current or an increased level of delinquency, or if the creditor failed to report that month, an ND.

However, it is common for commercial credit reports to show an "OK" for months when no reporting is provided, which is NOT a postiivee reporting by the creditor that the account has returned to pays as agreed (i.e.,  non-delinquent) status.

Unless the creditor is asserting that the account was actually paid to a non-delinquency status, which would then produce a new and updated DOFD, I would not dispute the accuracy of the way it shows in your commercial credit report.

Such disputes often lead to the cureditor, in order to avoid any more disputes, to report a delinquency for each and every month, oftern at increased levels, in order to end any futher issues over accuracy of omitted reporting.

It is a non-issue that is not hurting if it is not affecting their reporting of DOFD, and I would not dispute unless or until an actual inaccuracy is present.