Help Understanding DOFD and Date of Last Payment

[RobertEG]

The 120 late in 8/2011 has its own exclusion date of 8/2018.

DOFD is irrelevant to that exclusion.

[its_mona]

So am I understandung this correctly. The DOFD sor student loans changes everytime it is brought current?! Ugh...3 C/O reporting $0 balance and 3 reporting 120 days late, drop dates are listed as 2019 and 2020...I've taken care of everything but cant get rid of these. Called the original provider today and she said with her snooty behind.. "thats not how it works" smh

[rmduhon]

Not just student loans, it's the same with credit cards, and mortgage, auto and personal loans too

[its_mona]

But the lates fall off by date? For instance a late showing 4/11 will drop off in 4/18? If thats the case I can sort of live with that...not like I have a choice anyway. 😊

[RobertEG]

Yes, monthly delinquencies for all accounts (except federal student loans) must be excluded no later than 7 years from their date of occurence.

The CRAs can decide to exclude all monthly delinquencies in a common chain once the first delinquency reaches the 7 year limit, but they are not requried to do so.

Each has its own max exclusion date of no later than 7 years from its individual date of occurence.

Federal student loans, however, have extended exclusion dates under certain provisions, and earlier exclusion dates under other provisions.

Those exceptions were enacted as part of the Higher Education Act.

In a nutshell, the exclusion period for derogs on federal student loans is not subject to the normal 7 year exclusion period under the FCRA if the loan remains delinquent.

However, once the loan is returned to pays as agreed, good standing, the 7 year exclusion period applies the same as any other debt.

Additionally, on the flip side, there is a rehab program for federal student loans that permits derogs to be removed from consumer's credit report if they sucessfull complete the federal rehab program, which involces making at least 10 consecutive timely payments.

[its_mona]

I've done the rehab and that part shows pays as agreed, but the original provider got it back and apparently I defaulted again. It seems it shows twice for the same ones one good one bad for the same dates. One(3) as aes/suntrust nel net and the other(3) as aes/pheaa or something. Then one(3) is in collections which is the when i officially had them consolidated 2yrs ago. So i have 3 accounts showing late and 3 showing collections with $0 balance.