DOFD or DOLA

[kenworthguy]

Hi everyone,  does anyone know for sure when the 7 year window on an account expires, is it from the DOFD or DOLA, I keep arguing with this company that i thought it was DOFD, if i am wrong, somebody please correct me. As can be seen here, it shows DOFD as  APRIL 2004, You see, this is the same company i am arguing with about CURRENT ACCOUNT STATUS. It was paid off more than 6 years ago but they insist that reporting it 60 days past due as current status is correct. WRONG, they are not right.

Mortgage AccountAmerican Home Mortgage

Status as ofDate opened [?]Date of last activity [?]Date closed [?]Account number [?]Loan type [?]Largest past balance [?]Account Type [?]Account holder [?]Scheduled Payment Amount [?]Industry

Apr, 2005

Feb, 2004

Jan, 2005

Apr, 2005

XXXXXXXXX1788

Conventional Real Estate Mortgage

$142,100

Mortgage Account

Individual Account

$1,221

Finance / Personal

Descriptions [?]

• Closed

Contact Information [?]Po B 631730
Irving, TX 75063
(410) 872-2000

Balance [?] Current Status [?]

$0	60 days past due

Seven year payment history [?]30 days late60 days late90+ days late

2 times (Mar 2005, Dec 2004)

2 times (Feb 2005, Nov 2004)

4 times (Oct 2004, Sep 2004, Aug 2004, Jul 2004)

Recent payment history [?]4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 32003 2004 2005

Legend:	Not Open	Unknown	Currently paid as agreed
	30 days late	60 days late	90 days late
	120 days late

Worst Delinquency [?]

120 days past due

The Worst Delinquency reports the worst missed payment status that has been documented on this account. Your FICO® score evaluates how recently that missed payment occurred and in general, the more recent, the more impact it has on your score. However, the fact that it occurred is still predictive of future payment risk and could be considered by your FICO® score.

[kenworthguy]

Hi, Thank you, I will figure it out on my own, just thought i would ask.

[RobertEG]

FCRA 605(c) sets one date certain for the expiration of the continued inclusion of either a charge-off or a collection in your CR.

It is 7 years plus 180-days from the DOFD on the OC account.

If your CR does not provide you with the reported DOFD, you can obtain it from the CRA by way of a request under FCRA 609(a)(1).  Be sure to include the required fee, which is currently $10.50.

If anyone tells you that a DOLA controls, they have not read FCRA 605(c).

As for status of the collection, once paid, the current status can read only one thing.  Paid.  However, your Payment Rating code in your credit file will retain the highest level of delinquency prior to the collection, which, if 60-days late, or whatever, will be retained.  Maybe they are confused. 

[kenworthguy]

Thank you RobertEG for clearing that up for me, I'm sorry if the question has been asked and answered before, I was a little confused and not sure where to find the answer.  I sincerely appreciate the help. I think i will try a very nicely worded GW Letter and see if they will remove the lates, all i can do is try.

[LIGHTNIN]

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@kenworthguy wrote:

Thank you RobertEG for clearing that up for me, I'm sorry if the question has been asked and answered before, I was a little confused and not sure where to find the answer.  I sincerely appreciate the help. I think i will try a very nicely worded GW Letter and see if they will remove the lates, all i can do is try.

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Hi kenworthguy,  Yes I know this credit stuff can be confusing.So if you can not find the answer, feel free to ask.

Maybe you know this, but on the CR's that you get directly from the CRA's like thru annualcreditreport.com

I believe on CR's from EX and TU will have the drop off dates. And on the EQ CR will show the actual DoFD.

Hope this helps

[kenworthguy]

Thank You very much LIGHTNIN, any help with this CR and CS stuff is very much appreciated. 

[RobertEG]

Not to confuse you (I hope!), but just because a DOFD is reported as such-and -such to the CRA does not, ipso facto, make it correct.

Their are rules for accurate reporting of the DOFD to the CRAs that are set forth in FCRA 623(a)(5).  They apply to both creditors and debt collectors.

I would venture a guess that most consumers, upon reading the statutory requirements of section 623(a)(5) will walk away scratching their head.  It gets complicated.

The bottom line intent behind the statute is to attempt to get the DOFD from the horse's mouth, and the only party, other than the consumer, who has records to establish the DOFD is the original creditor.  But the statute cant always get the DOFD directly from the OC, so various machinations are provided. Sometimes, it can come only from the debt collector, who does not have the OC account records necessary for accurate determintion of the DOFD on the OC account.

It is not uncommon to have an incorrect DOFD in your credit file.  The important thing is to know what has been reported.

Then, using your independent account records, providing you have them, you can evaluate the accuracy of the reported DOFD, and dispute it if it is incorrect.

DOFD is legally the date of your first delinquency in the most recent chain of delinquencies that preceded any charge-off or collection referral.

If the issue does not relate specifically to the date of deletion of a charge-off or collection, then the DOFD is meaningless. 

Section 623(a)(5) does not even requrie the reporting of DOFD to the CRAs until 90-days after reporting a charge-off or making a referral of the debt for collection.

That is why I suggest that you first find out precisely what the reported DOFD is in your credit file, and who reported it.  It could have been either the OC or a debt collector.

FCRA 609(a)(1) is your tool to do that.

I know it gets complicated, but those are the rules of the credit reporting system.

[kenworthguy]

Thank You RobertEG, I am going to try and find out when it was . Complicated is not the word for it