Reply
Valued Contributor
Posts: 1,551
Registered: ‎11-10-2012
0

Judgment and DOFD

Hello all...when there is a judgment on your CR, say filed 08/2006, does the 7-year limit start on the day the judgment is filed in court or the DOFD? Since the DOFD has to be far earlier than the judgment, can a letter for removal based on that reason be sent? Thank you.

 photo Logo - Credit Card Collection - Data Inclusive_zpsyharlvpo.jpg
Epic Contributor
Posts: 20,269
Registered: ‎03-19-2007
0

Re: Judgment and DOFD

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.

Valued Contributor
Posts: 1,551
Registered: ‎11-10-2012
0

Re: Judgment and DOFD


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. 

 photo Logo - Credit Card Collection - Data Inclusive_zpsyharlvpo.jpg
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.