DOFD Question

[adamkingadam]

I am trying to get some negative accoutns off my CR early (due off in august) and I was wondering what the DOFD would be considered on a charged off cap one account.  Would it be the first time I became 30 days late, fees and balanaces occured, then I made one more payment and then let it go? Would it be that first 30 day even though I made a payment after the fact? Or would it be the date of the last payment?

Thank you! 

[RobertEG]

What is commonly referred to as the DOFD is the date you first became delinquent on the account, and thereafter the account remained delinquent up to the time of the charge-off or collection.

The date of a reportable 30-late is thirty days after it becomes delinquent, so technically, the DOFD should be a monthl prior to the first reported 30-late, but that also assumes that the creditor first reported a 30-late as soon as it became reportable.  That is often not the case.

Thus,, you cannot rely upon the reporting of a first 30-late as the definitive DOFD.

Additionally, if you made payments after the account first became delinquent, unless the payment was sufiicient to meet the terms due at that time, and thus returned the account to good-standing, it would not constiute the DOFD.

DOFD is unrelated to date of any last payment.

It is the date you first became delinquent in the most recent chain of delinquency, and remained delinquent until the associated collection or charge-off occured.