Drop off dates and suggestions..

[Anonymous]

Well I just received my free credit from Experian . The only way to go as free credit reports have drop off dates from 2 credit Bureau. My largest Baddy is listed by Experian in the following manner. " This account is scheduled to continue to report until Mar of 2016."

Does this mean it will be taken off my Experian  Report in March?? Or, will it remain on report up to another 180 day??  

If this item will remain on my report will it be worth while to send a letter to ask for early removal??

Thanks,

[RobertEG]

It means the CRA is planning to exclude the information as of that date.

If the derog is a collection or charge-off, the FCRA requires exclusion no later than 7 years plus 180 days after the DOFD.

The CRAs grant their own, standard early exclusions at approx 7 years.  Thus, their stated exclusion date already included an early exclusion of 180'ish days.

March is next month.

I would not bother with a request for earlier exclusion unless you are in the midst of an actual application process for which you need immediate score improvement.

[trnl2016]

I'd like to piggyback off this question and ask a related one. I noticed that people say that CAs can continue to collect indefinitely, even if the item ages off of your credit report. I've also seen where people say if it remains unpaid (even after it ages off of your credit report), it is still visible to, as an example, mortgage lenders... is that true? What is the point of an item dropping off if the powers that be (lenders) can still use it against you?

[Anonymous]

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@trnl2016 wrote:

I'd like to piggyback off this question and ask a related one. I noticed that people say that CAs can continue to collect indefinitely, even if the item ages off of your credit report. I've also seen where people say if it remains unpaid (even after it ages off of your credit report), it is still visible to, as an example, mortgage lenders... is that true? What is the point of an item dropping off if the powers that be (lenders) can still use it against you?

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There is a big difference between "being visible" and actually "being seen" by the lenders. The lenders must pull a special report commonly referred to as a "full factual" file - which they must pay for. Apparently they don't much care for the additional fees involved in pulling such a file, as I've yet to see anyone here state that their lender has pulled one and found problems in it. And I've read some 300,000 messages in this forum during my time here. So yeah, its "visible" but rarely (if ever) actually "seen" by the lenders.

Sort of like the "White Buffalo" - yes, it exists, but almost no one has ever actually seen one.

[RobertEG]

I have seen around five or six posts over the last decade that state that a creditor actually requested and received a full factual credit report under FCRA 605(b).

However, they were all at least 3-4 years ago.

It is rare, but not extinct.

They seem to rely upon a simple request that the consumer provide a disclosure of any unpaid, delinquent debt.

That is relatively common.