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Hi,
I had a First Premier Bank credit card that was charged off in 2009. The account history reads:
Account History:
90 days past due as of Nov 2009
60 days past due as of Oct 2009
30 days past due as of Sep 2009
My DOFD would be Sep 2009, right?
In the Status Details it reads:
Status Details: This account is scheduled to continue on record until Apr 2019.
These dates are wrong. According to the date that this account was charged off, it should drop-off Sep 2016. What should I do?
Thanks!!
The key date is the reported DOFD.
The OC was required to have reported the DOFD on their account within 90 days after reporting the CO.
That date is of record in your credit file, and can usually be obtained by pull of your CR from annualcreditreport.com, or by sending the CRA a request for the reported date under FCRA 609(a)(1), Esimated exclusion dates are subjective.
That is the date used by the CRA to calculate the maximum statutory period that it can remain in your CR, and also the date they use to determine their estimated or scheduled exclusion date. Esimated dates are usually months before the max exclusion date in order to give the CRAs a cushion in ensuring they dont exceed the max limit, so they are not binding dates.
The reported DOFD should be no later than Sept 2009, but would actually be Aug 2009, as a 30-late is only reportable after the account has already been delinquent for 30 days. A DOFD of Sept 2009 would result in a CR exclusion date 7 yrs plus 180 days thereafter, or March 2017. You have plenty of time before it becomes a real issue.
Once you have clear evidence of what they reported as the DOFD and you disagree, you can send them a direct dispute under the provisions of FCRA 623(a)(8), setting a 30 day period for them to investigate its accuracy.
Wow...THANK YOU for the clear explanation! I don't know what I would have done without this site and the amazingly helpful members!!!