Drop off dates

[Anonymous]

I've been trying to clean up my credit after being you and dumb.
It's gone gone from 585 to 634 in about a month a half of working on it.

I have a fee charge offs that drop off 02/18 from the Original creditor and then that was sold to midland. Midland shows drop off date off 04/18. I was thinking of doing EE but don't know which is the date that I should go of off. Any ideas would help.

Thank you!

[RobertEG]

With only rare exception, a charge-off on an OC account and a collection will have the same date of first delinquency (DOFD), and thus the same credit report exclusion date of no later than 7 yeard plus 180 days from the reported DOFD.  CRAs will usually provide an estimated exclusion date that is 7 years from the reported DOFD.

Assuming the CRA is using the same estimated exclusion period of 7 years, a two month difference in the expected exclusion date indicates a difference in the DOFD that was reported by each.  Since FCRA 623(a)(5) provides various scenarios for a debt collection obtaining the DOFD from the creditor, it is unclear as to whether the credtior or debt collector have provided the incorrect DOFD.  

Do you have account records that permit you to determine the actual DOFD?

[Anonymous]

Hey RobertEG,

Thanks for the reply!

I actually don't have any documentation to back double check the dates. Dates I posted I got from a copy of my credit report pulled from TU/ EQ. Do you know how I would double check the actual dates?

Thank you!

[RobertEG]

FCRA 623(a)(5) defines how the date of first delinquency is to be obtained and reported.

In a nutshell, the date of first delinquency occurs on the account with the orginial creditor, and is the first delinquency in the chain of consecutive delinquencies that preceded the charge-off, and for which the account remained delinquent from that first delinquency until the taking of the charge-off.  The original credit must have reported that DOFD to the CRA no later than 90 days after they reported the taking of the charge-off, so it is posted under the OC account.

If/when a debt collector reports a collection, they are also required under section 623(a)(5) to obtain and report the DOFD on the OC account.

The first step detailed under section 623(a)(5) permits a debt collector to obtain the DOFD without need to actually contact the creditor. It provides that, if the creditor has prevsiously reported the DOFD, then the debt collector can simply rely upon that reporting, and use that same date for the DOFD that applies to their collection.

If you have no actual account records showing the date of your first delinquency with the original creditor, but you still have a prior copy of any credit report that shows the creditor account and the DOFD that they reported, you can use that reported DOFD as the presumptive DOFD that the debt collector should also have reported.

You could thus use any such credit report as basis for disputing the accuracy of the different DOF D reported by the debt collector to the CRA.

[rmduhon]

You say the reports were pulled from TU/EQ. Was at from the bureaus themselves or from somewhere else like Credit Karma?

[Anonymous]

RobertEG: Thank you for all the info!

Rmduhon: The reports well pulled directly from TU/EQ with the free yearly credit report