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DOFD has one and only one purpose in credit reporting.
It sets the period for calculation of the date for ultimate exclusion of either a collection or charge-off.
It is irrelevant to the exclusion of any other adverse intormation, such as a judgment.
FCRA 605(a) explicity sets the 7 year exclusion period for a judgment as running from the date the judgment was entered.
@RobertEG wrote:DOFD has one and only one purpose in credit reporting.
It sets the period for calculation of the date for ultimate exclusion of either a collection or charge-off.
It is irrelevant to the exclusion of any other adverse intormation, such as a judgment.
FCRA 605(a) explicity sets the 7 year exclusion period for a judgment as running from the date the judgment was entered.
Thank you for the prompt response.