DOFD/SOL question....

[XxRaVeNxX1]

I know for a fact, the DOFD isn't correct...that's the timeframe I started paying their attorney...2010 they weren't getting anything...but this account and all these lates showed up on the 25th of this month, guess it took a local finance company years to get their books in order...

Edit: I just noticed something it says 10/2010 is the DOFD, but why isn't that Red or have 30 days? Dispute worthy?

[guiness56]

There should have been no DoFD reported to the CRAs if the account was not CO'd or sent to collections.

They have the DoFD as 10/2010 but the payment history shows the first missed payment as May 2011.  Something isn't being reported correctly.

I would send the OC a direct dispute under FCRA 623(a)(8).

How long has the TL been in dispute?

[XxRaVeNxX1]

Yea, I sent them a GW since I've been paying their attorney for years without any communication and it never showed up on my credit report. Now this account just showed up on the 25th along with all these lates.

I disputed it the day it showed up...5 days ago...but it was one of those general, goes against the forum's rules, reasons. Looking for other people to check it out, if it comes back 'verified.'

Edit: The fact there is a DOFD is good for me...I shouldn't dispute that, correct?

[guiness56]

If the DoFD should be a year or so ago that is not good.  When did you first become late and never bring the account current again?

[XxRaVeNxX1]

It was about 2008....So, to dispute it via  FCRA 623(a)(8) method is my next route?

[guiness56]

Yes, do you need a template?  And send it to the OC.

[RobertEG]

Two points regarding the DOFD on the account.

First, DOFD appears to be totally irrelevant, and second, reporting of inaccurate information is not per se a violation of the FCRA, and can always be corrected by the furnisher without requirement to delete.

DOFD is only relevant to credit reporting and thus only required if the creditor has charged-off the account or it has been referred for collection.

The only use of DOFD with respect to credit reporting is to provide the CRA with a date upon which to calculate the exclusion date of a reported charge-off or collection.

I dont see either of those items in the CR.

Requirment to report a DOFD only comes about under FCRA 623(a)(5) after reporting of a charge-off or collection.

A dispute over the accuracy of the reported DOFD could be handled by them in two ways.  If they chose to report a DOFD when it was unnecessary, they could simply delete it.

If they investigate the dispute and agree with the consumer, they can alternately simply correct the reporting without deleting any other information.

With regard to ceasing payment, I would presume that the payment plan was entered into by way of a separate contract, upon which they could bring legal action for breach if payments were discontinued.

[XxRaVeNxX1]

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@RobertEG wrote:

DOFD is only relevant to credit reporting and thus only required if the creditor has charged-off the account or it has been referred for collection.

With regard to ceasing payment, I would presume that the payment plan was entered into by way of a separate contract, upon which they could bring legal action for breach if payments were discontinued.

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Few things/questions...If I was referred to their attorney, to make payments on the account. I was not able to contact them to make payments..Isn't that considered 'referred for collection.'

And having the correct DOFD, would help me with the SOL of it being reported on my reports.

And only agreement that was made, was me telling telling their attorney verbally I'll pay $100 a month. (my terms)

Also....if I haven't made a timely payment, less say, since 2007, I thought there is a timeframe the account has to be charged off....

Edit: Also, if they aren't able the verify the actual missed payments/delinquencies via the 623, don't they have to remove the account?

[guiness56]

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@XxRaVeNxX1 wrote:

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@RobertEG wrote:

DOFD is only relevant to credit reporting and thus only required if the creditor has charged-off the account or it has been referred for collection.

With regard to ceasing payment, I would presume that the payment plan was entered into by way of a separate contract, upon which they could bring legal action for breach if payments were discontinued.

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Few things/questions...If I was referred to their attorney, to make payments on the account. I was not able to contact them to make payments..Isn't that considered 'referred for collection.'  Is the attorney also a collection agency?

And having the correct DOFD, would help me with the SOL of it being reported on my reports.  Yes.

And only agreement that was made, was me telling telling their attorney verbally I'll pay $100 a month. (my terms)

Also....if I haven't made a timely payment, less say, since 2007, I thought there is a timeframe the account has to be charged off....There is and that is normally 120 -180 days.

Edit: Also, if they aren't able the verify the actual missed payments/delinquencies via the 623, don't they have to remove the account?  They should have to.

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[XxRaVeNxX1]

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@guiness56 wrote:

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  Is the attorney also a collection agency? No, just a local firm downtown.

Yes. And see that's my whole point of the DOFD, get it pushed back to the correct date of 2006/2007....it won't be on my credit reprot much longer....

.There is and that is normally 120 -180 days. Is there some statue I can reference this? Cause it's obviously been more than 180 days according to my credit report, correct?

They should have to.

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