Opinion on collection fall off?

[Anonymous]

Hi again!  Sorry for all the crazy questions, but I often need reassurance that I'm doing the right things.  This is seriously the largest potentially life changing project I've ever started and I am determined to see it through.

So my question- there are 2 collections- 1 on TransUnion and 1 on Experian that are "due to continue on record until 2017".  The collection on TransUnion was also on my Experian report, but it's been removed as of my pulled report on March 7. 

Should I just give it a bit more time to fall off, or should I call and find out why it's still reporting?  OR Maybe they have been removed and I need to pull another report?  Would I get an update if something is no longer reporting?

As always- I appreciate all your help

[RobertEG]

The statutory requirement regarding exclusion of  collections is that they must be excluded no later than 7 years plus 180 days after the reported date of first delinquency (DOFD).  See FCRA 605(c).

A debt collector is required to report the DOFD to the CRA no later than 90 days after they report their collection, thus providing the CRA with the DOFD.

While the DOFD is the controlling date for determining credit report exclusion, credit reports often do not provide the actual reported DOFD, but rather provide an estimated exclusion date that is approx 7 years from the reported DOFD. 

An estimated exclusion date of, for example, 3/2017 implies a reported DOFD of 3/2010.

The CRA is stating that they expect to exclude in March, but they actually have an additional 6 months before exclusion is required.

Thus, if only an estimated exclusion date is provided, you would not dispute a lack of exclusion until approx six months later.

You can call the CRA and request they exclude, but they are not yet in violation.

[RobertEG]

The statutory requirement regarding exclusion of  collections is that they must be excluded no later than 7 years plus 180 days after the reported date of first delinquency (DOFD).  See FCRA 605(c).

A debt collector is required to report the DOFD to the CRA no later than 90 days after they report their collection, thus providing the CRA with the DOFD.

While the DOFD is the controlling date for determining credit report exclusion, credit reports often do not provide the actual reported DOFD, but rather provide an estimated exclusion date that is approx 7 years from the reported DOFD. 

An estimated exclusion date of, for example, 3/2017 implies a reported DOFD of 3/2010.

The CRA is stating that they expect to exclude in March, but they actually have an additional 6 months before exclusion is required.

Thus, if only an estimated exclusion date is provided, you would not dispute a lack of exclusion until approx six months later.

You can call the CRA and request they exclude, but they are not yet in violation.

[Anonymous]

Awesome- that's the info I was looking for.  I'm not planning on applying for any more credit, so I'll just give it more time. 

Thanks!