Date Major Delinquency First Reported - What is This

[lazerz69]

I understand the obvious.  But my question really goes to the issue of a CA reporting a DMDFR incorrectly.

Where does the date come from, the OC or the CA.

If the account was a charge off and the charge off was 6 years ago, how can the DMDFR be within the last year.

[LIGHTNIN]

Sorry your post was overlooked this weekend.  Here's my 2 cents about the first date the major delinquency

The DoFD is the important date to know, not the first major delinq date.

The DoFD is used to calculate, the date of removal from a CR.

The Date Major Delinquency First reported, I feel it's just a date 

The date comes from the CRA EQ. The following is from their web site...

The first date the major delinquency status was reported for this account. A major delinquency is considered to be a collection, repossession, charge-off, foreclosure or account included in bankruptcy.

[Anonymous]

This is something that really bugs me.  It's happened to me personally and other posters here.  You have an old charge off and decide to finally pay it and some way some how they update it to show the CO as the date (or month) you made the final payment and add a bunch of negatives from the time it was REALLY CO until date of payment.  I've got this fixed by GW'ing the heck out of people but before that a CO that was over 1 and 1/2 years old updated when I paid it and dropped my score because I now had a RECENT late payment (originally had 5 late payments went to 18 after paying) or derog instead of it being over a year and half since my last missed payment.  This is so frustrating and I can totally see why people would be discouraged to pay old debts like this. 

[lazerz69]

Lightnin:  Thank you for the response.  I was not sure if the Date of Major Delinquency was used to calculate your FICO score or had some other effect.

[lazerz69]

tjmmp56:  Thank you for your response.  What you posted was what bothered me as well.  That is why I asked the question.  I just could not figure out what effect the date of major delinquency had on my score.

[injustifiiable]

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@Anonymous wrote:

This is something that really bugs me.  It's happened to me personally and other posters here.  You have an old charge off and decide to finally pay it and some way some how they update it to show the CO as the date (or month) you made the final payment and add a bunch of negatives from the time it was REALLY CO until date of payment.  I've got this fixed by GW'ing the heck out of people but before that a CO that was over 1 and 1/2 years old updated when I paid it and dropped my score because I now had a RECENT late payment (originally had 5 late payments went to 18 after paying) or derog instead of it being over a year and half since my last missed payment.  This is so frustrating and I can totally see why people would be discouraged to pay old debts like this. 

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I feel the same way. I have a FPB CO that CA's have been nagging the heck out of me to settle. I've read many stories about this happening and therefore have been reluctant to pay until it falls off my report later this year.