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Regular Contributor
Thunderseven
Posts: 212
Registered: ‎09-16-2008
0

DOFD vs Date Reported

 

 

What is the difference between the DOFD vs Date Reported?  I have one final derog that should drop off March of 2011, but now I'm not too sure because of how it's reporting.  All my CR's, including FICO show it as "Date Reported - March 2004".  Being that it is so close to (hopefully) dropping off, I don't want to press my luck and send in a letter inquiring, thus updating the file and dropping my score.

 

Does anyone know if the DOFD and Date Reported are the same?

 

Thanks and Happy Holidays!!!  Be safe.

Thunderseven.....TU 712 (08/21/2013) EQ 696 08/21/2013 EX 719 908/21/2013) All FICO's

I don't ask for much,
The truth will do just fine....

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: DOFD vs Date Reported

It's two different things. DOFD is the date you first went delinquent and never recovered. On an OC account that reports lates, you can often find DOFD by looking for the first 30 day late, then 60 and so on. That first 30 is the month of DOFD. You can also find DOFD listed on EQ and on TU and EX, you can get a very rough DOFD by subtracting 7 yrs from the drop off date, if listed.

 

Date reported is the late month in which that TL reported to your CR. So, if you paid tomorrow, for example, date reported should change to December because the last updated reporting would be this month. Some TLs update that date monthly. Others not.

Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
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Re: DOFD vs Date Reported

 


Thunderseven wrote:

 

 

What is the difference between the DOFD vs Date Reported? DOFD is the Date of First Delinquency, the date reported is usually with the CA when assigned or purchased the debt. The DOFD is the clock starting time for 7-7.5 years for reporting.

 

I have one final derog that should drop off March of 2011, but now I'm not too sure because of how it's reporting.  All my CR's, including FICO show it as "Date Reported - March 2004".  Being that it is so close to (hopefully) dropping off, I don't want to press my luck and send in a letter inquiring, thus updating the file and dropping my score. If the SOL has expired there is no reason to worry about making good on an old debt (it is the honorable thing to do). It should have no effect on your credit scores. With the fall off date near IMO I would just wait it out before I attempted to do anything.

 

Does anyone know if the DOFD and Date Reported are the same? They are not the same at all.

 

Thanks and Happy Holidays!!!  Be safe.


 

Good Luck
May all your dreams and wishes become a reality!
Regular Contributor
Thunderseven
Posts: 212
Registered: ‎09-16-2008
0

Re: DOFD vs Date Reported

 

I checked each of my CR's and the latest myFICO report one more time to see exactly how they're worded and found the following:

 

myFICO - Date Assigned

TU - Date Reported

EX - Date Opened

EQ - Dropped off two years ago

 

There is no mention at all of DOFD on any report.  The TU CR did indicate that their "Date Reported" was the date actually reported to the CA by the OC as derogatory/late.  Since all of them report the same date (March 2004), would I be safe to assume (I hate to do that) that March 2011 should be the latest that it should report on my CR's?  Thanks!!!

 

Thunderseven.....TU 712 (08/21/2013) EQ 696 08/21/2013 EX 719 908/21/2013) All FICO's

I don't ask for much,
The truth will do just fine....

Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
0

Re: DOFD vs Date Reported

 


Thunderseven wrote:

 

I checked each of my CR's and the latest myFICO report one more time to see exactly how they're worded and found the following:

 

myFICO - Date Assigned

TU - Date Reported

EX - Date Opened

EQ - Dropped off two years ago

 

There is no mention at all of DOFD on any report.  The TU CR did indicate that their "Date Reported" was the date actually reported to the CA by the OC as derogatory/late.  Since all of them report the same date (March 2004), would I be safe to assume (I hate to do that) that March 2011 should be the latest that it should report on my CR's?  Thanks!!!

 


 

Your CR's usually do not list the DOFD, you are suppose to know what it is but most of us also forget (well I did anyway). Making assumptions can hurt us, but if you wanted to make an assumption on that date then add 7.5 years to it which would be September 2011. Have you pulled your free annual credit report as of yet? You can look at the approximate drop off date on your annual credit report which can be obtained at annualcreditreport.com. While it is said that it isn't 100% accurate it is usually pretty close to the fall off date.

 

IME they usually fall off before the 7.5 year mark. I even had 1 fall off at about 6 years 11 months. YMMV

Good Luck
May all your dreams and wishes become a reality!
Regular Contributor
Thunderseven
Posts: 212
Registered: ‎09-16-2008
0

Re: DOFD vs Date Reported

 

No, I have been buying my reports directly from the CRA's through the links below.  If these are incorrect, please let me know.  Thanks!!!

 

http://experian.experiandirect.com/

https://www.transunioncs.com/

http://www.equifax.com/cs/

Thunderseven.....TU 712 (08/21/2013) EQ 696 08/21/2013 EX 719 908/21/2013) All FICO's

I don't ask for much,
The truth will do just fine....

Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
0

Re: DOFD vs Date Reported

[ Edited ]

It is not about being incorrect. the reports are correct they just do not offer the same amount of information. The most up to date information with details comes from the one time a year free credit report for each of the 3 agencies. You can obtain them at ..........     annualcreditreport.com

 

Edited to say you do not need scores so do not pay for the scores as they are not FICO scores.

Good Luck
May all your dreams and wishes become a reality!
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: DOFD vs Date Reported

[ Edited ]

The only time that explicit reporting of DOFD is required under the statute is set forth in FCRA 623(a)(5)(A).

DOFD has no real significance other than the determination of the period of drop off of either a charge-off or a collection from your CR.

While the CRAs provide creditors with codes to report the DOFD at the time of the actual  occurance of a first delinquency, many creditors simply dont do that.

So DOFD is often not even expressly reported to the CRAs while the OC account is open

But once a CO or collection referral is done by the OC, then the significance of DOFD in your credit file becomes necessary in order for the CRA to thereafter be able to calculate the drop off dates of aqny such subsequent  reportings,

Thus, the reason for FCR 623(a)(5)(A).  That section of statute requires the OC to report to the CRA, within 90-days of doing a charge-off or placing the delinquent account for collection, with the DOFD on their OC account.

 

However, most consumer credit reports that we receive are far from a comprehensive report of information in your credit file.  Some credit reports include a DOFD, and others dont.  Even if your consumer CR presents a DOFD, I would still not accept it as gospel (see following post for this separate discussion)

 

If you want to know the DOFD reported by the OC, you can do this, independent of your credit report, for a small fee.

Just wait at least 90 days after the date the OC has reported a CO or has posted a status of collection referral (regardless of whether a debt collector has posted a CA to your CR). 

Then send the CRA the following letter:

 

"This is a request, under FCRA 609(a)(1), for all information in my credit file as regards the date of first delinquency on my account, as was the reporting requirement of the creditor under the provisions of FCRA 623(a)(5)(A).  This is stored, to the best of my knowledge, in my credit file as the "FCRA Compliance Date/Date of First Delinquency."

"I understand that this request requires, under FCRA 612(f), the payment to you of the current fee of $10.50.  Attached is my check in that amount."

Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: DOFD vs Date Reported

[ Edited ]

Just because your credtt report, or even your underlying credit file, contain a reporting of a DOFD, that does not necessarily make it correct.

And to use other information in your CR, such as payment history or a 30-day late,  or worst of all, a "projected drop off date," to try to determine your DOFD is, at best, only a crude guess.

Your legal date of most recent first delinquency on an OC account is based on the billing statement f rom them, plus, usually setting a 30-days due date.Your payment due date determines deliquency.

One day after the statement due date, if the minimum payment is not received, or received late, that is your legal DOFD.

However, they cant report a 30-day late to the CRA until 30-days after the due date.  So reporting of a 30-day late to your payment history most likely means the actual DOFD was 30-days earlier.  It may be a close approximation, but it is not your DOFD.

But suppose that the OC did not even report the 30-day late to the CRA, but rather waited util it was 60 or 90-days late.  So how do you then infer a DOFD from your payment history profile?

Or maybe they reported no monthly lates prior to a CO or collection referral.

Payment history profile may be helpful, but does not tell you what the definitive DOFD is.

Then, take the above example one step further.  Suppose that after the prior DOFD, the account is then brought back into paid, good standing.  Then you later are delinquent on the account,  That sets a new DOFD that totally erases the old one.  And so on, through whatever chain of paid, then new delinquencies occur.

The OC may or may not have reported the orginal DOFD, and may or may not have updated it when a new one occured,

Then the OC finally does a CO or refers the account for collection.  At that time, they must report their version of the DOFD to the CRA under FCRA 623(a)(5)(A).

I would not trust as gospel any date that they report.  While they are required to report the current, most recent DOFD that began the last chain of delinquencies, some report the date of CO or CA, which is clearly incorrect.

The only legal and accurate proof of your DOFD is your account records with the OC, and not their credit reporting.

 

The date of drop of a CO or CA from your CR is based, under FCRA 605(c), only on one date-certain.  That is the DOFD on the OC account, then plus 180-days,and finally plus 7 years.  Dates of subsequent reporting are meaningless as they relate ot CR deletion, 

 

 

Regular Contributor
Thunderseven
Posts: 212
Registered: ‎09-16-2008
0

Re: DOFD vs Date Reported

 

I appreciate all of the responses to this question.  I understand how the DOFD is derived.  I was trying to find out from the forums if the dates listed on my CR's and myFICO reports were to be considered the same (or similar/close to) as the OC's DOFD.  I have been unable to obtain this date.

 

I have made numerous attempts in the past to just verify (in writing) that this is even my account and not my ex-wife's, but no lock.  Each of the CRA's and both the OC and CA simply sent letters back stating "verified".  Neither provided any proof as requested in my letters.  I wrote follow ups to each response, only to find out that each letter I wrote, updated the CLI and dropped my score.

 

I'll try calling the OC's billing department next week to see if they have the file and can tell the me DOFD.  This is a old medical bill that I paid off after finding it on my report years ago.  I was hoping HR3421 would have kicked in by now, but it hasn't.

 

Anyway, thanks again and have a great holiday.

Thunderseven.....TU 712 (08/21/2013) EQ 696 08/21/2013 EX 719 908/21/2013) All FICO's

I don't ask for much,
The truth will do just fine....


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