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Valued Contributor
Posts: 1,540
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.

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Mega Contributor
Posts: 19,848
Registered: ‎03-19-2007
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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: 1,540
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. 

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