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goldenyears
Posts: 57
Registered: ‎02-08-2012
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DOFD Conflict - Which is correct?

I am having a heck of a time figuring out when some old baddies will be falling off my credit reports because most of my accounts have conflcting dates between Experian and TransUnion.  

 

The Biggie:  I have a closed BOA account that I settled in 2009.  The first missed payment I never recovered from was in November of 2006.

 

When I settled with BOA, they posted my three payments toward the settlement in Feb, Mar and April of 2009.  TransUnion is reflecting my DOFD as 11/06 and Experian is showing it as 5/09.  I was expecting this to drop from my report next year, three more years of reporting nearly two years of consecutive 120 day lates (it looks bloody, ya'll) is not my idea of fun.

 

Which is really the DOFD under the definition or can each of the agencies interpret them in different ways?  BOA won't GW, so my only real hope to get my credit scores fully back on track in the  next year is that I can dispute the date with Experian.


Starting Score: 523 TU: 3/15/2012
Current Score: 717 EQ 09/03/2014
Next Goal Score: 720 by Dec 2014


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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: DOFD Conflict - Which is correct?

I believe the DOFD should be in 2006.  That's when it went delinquint.


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July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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RobertEG
Posts: 18,415
Registered: ‎03-19-2007
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Re: DOFD Conflict - Which is correct?

First, what was the delinquency status of the account?  Did the OC do a charge-off, and/or was a collection also reported?

 

DOFD is the date you first went delinquent on an OC account, and thereafter did not bring the account back into good-standing prior to their reporting of either a collection or a charge-off.

However, if the OC did not report a charge-off, or a debt collector did not report a collection, the DOFD is totally immaterial.  DOFD has only one credit reporting purpose...to enable the CRAs to calculate the exclusion date of a reported collection or charge off.

Monthly OC account delinquencies do not have an exclusion date based on DOFD.  The each are excluded after 7 years from their indiviudal dates of delinquency.

 

Can you provide more details on the account?

 

 

 

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goldenyears
Posts: 57
Registered: ‎02-08-2012
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Re: DOFD Conflict - Which is correct?

Hi Robert, thanks for the info.

 

I just typed all this in and hit a mystery button and it disappeared, hope I'm not double posting.

 

This was never sent to collections, I had an equity line of credit with them as well and given that I was paying that and I had had the card for many years with a good record, I think they were hopeful I would be able to pay eventually.  The credit reports do not reflect a CO until after I paid the settled amount, which makes me think I'm out of luck.

 

Equifax

Status: 120+days past due with a 0 balance

DOFD: 11/2006

Date closed: 5/2009

Comments: Account paid for less than full balance

Payment history shows 180 days late in 1/2008, nothing at all again until a CO is reported in 4/2009

 

Transunion

Status: 120+days past due with a 0 balance

Date Closed: 5/30/2007

Remarks: Settled for less than full blnc, maximum delinquency of 120 days in 3/2007

Estimated to be removed: 07/2013

 

Experian

Status: Paid in settlement. Balance N/A

Date of Status: 05/2009

Details: Scheduled to continue on record until 2/2016

Account History:
Charge Off as of Apr 2008, Feb 2008, Oct 2007, Jun 2007 to Sep
2007, May 2007
180 days past due as of May 2007

 

 

I hope this helps, I am really confused about the variance.  Thanks for any advice anyone can give!


Starting Score: 523 TU: 3/15/2012
Current Score: 717 EQ 09/03/2014
Next Goal Score: 720 by Dec 2014


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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: DOFD Conflict - Which is correct?


goldenyears wrote:

Hi Robert, thanks for the info.

 

I just typed all this in and hit a mystery button and it disappeared, hope I'm not double posting.

 

This was never sent to collections, I had an equity line of credit with them as well and given that I was paying that and I had had the card for many years with a good record, I think they were hopeful I would be able to pay eventually.  The credit reports do not reflect a CO until after I paid the settled amount, which makes me think I'm out of luck.

 

Equifax

Status: 120+days past due with a 0 balance

DOFD: 11/2006

Date closed: 5/2009

Comments: Account paid for less than full balance

Payment history shows 180 days late in 1/2008, nothing at all again until a CO is reported in 4/2009

 

Transunion

Status: 120+days past due with a 0 balance

Date Closed: 5/30/2007

Remarks: Settled for less than full blnc, maximum delinquency of 120 days in 3/2007

Estimated to be removed: 07/2013

 

Experian

Status: Paid in settlement. Balance N/A

Date of Status: 05/2009

Details: Scheduled to continue on record until 2/2016

Account History:
Charge Off as of Apr 2008, Feb 2008, Oct 2007, Jun 2007 to Sep
2007, May 2007
180 days past due as of May 2007

 

 

I hope this helps, I am really confused about the variance.  Thanks for any advice anyone can give!


EQ and TU have the DOFD set as of 2006, EX has it set at 2009.  On EX they reset the CRTP clock.  You might be able to dispute this.  


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
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goldenyears
Posts: 57
Registered: ‎02-08-2012
0

Re: DOFD Conflict - Which is correct?

That is music to my ears(eyes)!  Would you recommend I call BOA and ask them to correct the report or dispute directly with Experian?  

 

Thanks!


Starting Score: 523 TU: 3/15/2012
Current Score: 717 EQ 09/03/2014
Next Goal Score: 720 by Dec 2014


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