Early Exclusion

[tjmolly]

So here's my situation. I defaulted on a private student loans most seven years ago and the date of first delinquency was in October 2009.  According to one of my credit bureau report the Account is due to drop off in September of this year 2016. I have heard of these early exclusions and after calling Experian I was informed to call back in September and request this. My question is with an early exclusion what is stopping the original creditor from continuing to Report the charge-off?  While the credit bureau ma they may get a new Report from the creditor and possibly put it back on the report, or am I mistaken? Thanks for all you guys do on this forum it's very helpful.

[Anonymous]

Sorry OP dont know how to answer your Q. But I wanted to ask if you can share what's the number for Experian? I been trying to find it at no avail. Thank you!

[RobertEG]

Credit report exclusions are done by the CRA, not the creditor.

Credit report exclusion applies to the CRA reporting information in its files to others, not to the creditor reporting information to a CRA.

Nothing prevents the creditor from reporting at any time.

The CRAs determine, based on the date of the relevant derog, when they will exclude.

Once that has occured, if the creditor reports, it will still be received by the CRA, but the derog will be excluded from any credit report that the CRA issues after the relevant credit report exclusion date.

If the reporting by a creditor is on an account that otherwise remains in the consumer's credit report, with only the derog being excluded, then the creditor update will still be shown. 

[darwin_wins]

Robert - How does the process work? I am curious as I am sure CRAs are generally dealing with hundreds of thousands of requests from CA/ OC/ etc.

Any idea how they go through each request and decide which to keep and which to not report? I mean the technicality of it not their general rule of exclusion/ inclusion

[spartanspirit]

I requested an early exclusion from experian for a collection scheduled to fall off in November of this year online and it was deleted the next day. Try the online route and see if that works. 

[RobertEG]

The exclusion provisions of FCRA 605(a) are imposed on the CRAs, not on furnishers of information in their reporting to a CRA.

The CRAs simply block the ability of certain items in their files from being included in any credit report inquiries they receive.

More specifically, whenever a derog is reported to a CRA, they flag them for computerized review based on the relevant credit report exclusion date of that type of derog.

For example, any collection is monitorerd using the reported DOFD, and adding the exclusion period to that date.

Once the exclusion date set in the system is reached, the adverse item is simply blocked from further inclusion in any credit reports provided to inquirees.

The CRAs dont monitor each individual reporting to determine if it is proper, they monitor derogs in consumer files and simply trip their ability to be shown in any queries made for a credit report.

[RobertEG]

The exclusion provisions of FCRA 605(a) are imposed on the CRAs, not on furnishers of information in their reporting to a CRA.

The CRAs simply block the ability of certain items in their files from being included in any credit report inquiries they receive.

More specifically, whenever a derog is reported to a CRA, they flag them for computerized review based on the relevant credit report exclusion date of that type of derog.

For example, any collection is monitorerd using the reported DOFD, and adding the exclusion period to that date.

Once the exclusion date set in the system is reached, the adverse item is simply blocked from further inclusion in any credit reports provided to inquirees.

The CRAs dont monitor each individual reporting to determine if it is proper, they monitor derogs in consumer files and simply trip their ability to be shown in any queries made for a credit report.

[Anonymous]

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@Anonymous wrote:

Sorry OP dont know how to answer your Q. But I wanted to ask if you can share what's the number for Experian? I been trying to find it at no avail. Thank you!

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Try this number ask politely but firmly to speak to a supervisor (714) 830-7000.

[RonM21]

OP, I'm not saying this will work, but sometimes if you call back and get someone different, they will do it. I've seen threads on here where this was the case. You can try that if it is that big of a deal to not hold out 2 more months.

[tjmolly]

Thank you for your input and information, I have found this forum to be quite helpful. As an update I contacted both Trans Union as well as Experian to have the charge-off loans removed by way of early exclusion. It took a few phone calls and I figured out that if you tell the initial customer service representative you were speaking to a supervisor and was disconnected they will generally transfer you right over. I did this yesterday and today it was deleted from my account,, BOOM!  However dealing with Equifax is a complete and utter nightmare. You spend so much time wasted talking to someone in southeast Asia who follows the book. They have repeated on multiple calls from different reps that it is against their in-house policy to provide early exclusion. If anyone has an alternative route for Equifax please share. I am a persistent person and will continue to press the issue with Equifax and maybe get lucky and speak to someone stateside. I will keep you updated.