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DoFD, which one is the correct one on EQ report

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tonyjones
Valued Contributor

Re: DoFD, which one is the correct one on EQ report


@Shogun wrote:

@tonyjones wrote:

I was reading somewhere, if the debt is time barred, it is illegal for them to report it to the CRA?

 

"Debt has been barred by the statute of limitations, it is illegal to report it on a consumer's credit report"


This has to do with two different issues.  

 

1.  SOL   This is how long you can be sued for the debt.

2.  CRTP  This is how long it can remain on your CR.

 

So say the SOL is 4 years for your state.  You can't be sued, but the CRTP is 7.5 years so it can remain on your CR.


But they reported it after the SOL. DoFD = 03/2009, They reported it on 07/2013 which is passed the 4 years SOL.

 

Right now I can see it on all three CRA. Should I call them and have them remove it?

Current Fico Scores: (December 2023)
Message 11 of 18
Shogun
Moderator Emeritus

Re: DoFD, which one is the correct one on EQ report

Doesn't matter.  They can report after the SOL has expired, it has nothing to do with the CRTP.

 

 

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 12 of 18
tonyjones
Valued Contributor

Re: DoFD, which one is the correct one on EQ report


@Shogun wrote:

Doesn't matter.  They can report after the SOL has expired, it has nothing to do with the CRTP.

 

 


So there is nothing I can do?

Current Fico Scores: (December 2023)
Message 13 of 18
Shogun
Moderator Emeritus

Re: DoFD, which one is the correct one on EQ report

According to the DOFD supplied of 03/2009 it will reach the maximum of the CRTP on 09/2016.  This is 7 years +180 days from the DOFD.  If it is paid, GW it, if not, then try a PFD.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 14 of 18
tonyjones
Valued Contributor

Re: DoFD, which one is the correct one on EQ report

i'm so confused i thought u said they could report it but it wouldn't show up on my credit report.......

Current Fico Scores: (December 2023)
Message 15 of 18
Shogun
Moderator Emeritus

Re: DoFD, which one is the correct one on EQ report


@tonyjones wrote:

i'm so confused i thought u said they could report it but it wouldn't show up on my credit report.......


That has to do when it passes the CRTP.

 

I think I'm getting confused on this one too.  Let me back up and explain this.

 

DOFD is 03/2009  This sets the clock for the SOL and CRTP of the debt.

 

SOL of your state.  4 years.  Means the SOL has run out on 03/2013.  You are past the date which you can be sued and get a judgement against you.

 

CRTP is 7 years plus 180 days.  meaning the debt may remain on your CR until 09/2016.  

 

Once a debt has passed the CRTP it may not be visible under a standard pull of your CR, minus the aforementioned exceptions.

 

 

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 16 of 18
tonyjones
Valued Contributor

Re: DoFD, which one is the correct one on EQ report


@Shogun wrote:

@tonyjones wrote:

i'm so confused i thought u said they could report it but it wouldn't show up on my credit report.......


That has to do when it passes the CRTP.

 

I think I'm getting confused on this one too.  Let me back up and explain this.

 

DOFD is 03/2009  This sets the clock for the SOL and CRTP of the debt.

 

SOL of your state.  4 years.  Means the SOL has run out on 03/2013.  You are past the date which you can be sued and get a judgement against you.

 

CRTP is 7 years plus 180 days.  meaning the debt may remain on your CR until 09/2016.  

 

Once a debt has passed the CRTP it may not be visible under a standard pull of your CR, minus the aforementioned exceptions.

 

 


ok gotcha lol that makes more sense, man i've learned so much today! i'll mail them for PFD!

Current Fico Scores: (December 2023)
Message 17 of 18
Shogun
Moderator Emeritus

Re: DoFD, which one is the correct one on EQ report

Good luck to you!!!!!   Keep us updated.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 18 of 18
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