01-08-2013 09:52 AM
Okay, back in October 2012 when I called Transunion they stated that my Penn State Account will be deleted off by 12/2012, well its January and its still not off. I call today and asked why (I hate when they route you to a location overseas). She stated it stays on your account for 7 years from the date it closed. I stated to her it should be from the First Date of Deliquency, which would be sometime in 2003-2004. Keep in mind the account was open in 1997. I paid it off completely in Jan 2008. Why would I still be held accountable for a 15 year account. Equifax took it off my credit report but not Experian or Transunion. Its basically a dead account.
01-08-2013 12:02 PM
Do you have a CR that shows the DOFD? If you had this, you could send it in, this would give you documented proof.
01-08-2013 01:28 PM
Is it a collection or an OC account?
Expiration of CR exclusion dates mandates exclusion of the adverse item, not the OC account with which it is associated.. If an OC account, then expiration of the CR exclusion date has nothing to do with deletion of the account. It relates to whatever adverse items were reported under the account.
DOFD is only relevant for determining the date of exclusion of any charge-off reported by the OC or collection reported by a debt collector.
OC account deletion after closing is purely an administrative decision by the CRA, and is usually done at approx 10 years after closing, but could be done after 7 years. Entirely up to the CRA.
If the "account" was a collection, which is apparently not your situation, it is itself an adverse item for which entire CR exclusion is required after 7 years plus 180 days from the DOFD on the OC account.
That is a date-certain over which the CRA has no discretion.
01-09-2013 07:06 AM
That is the problem on my credit report it does not show, only the date closed. So I called Transunion and told them about the DOFD. Which should have been sometime back in 2003-2004 when I was unable to pay. So I filed a dispute in regards to the DOFD.
01-09-2013 07:20 AM
I don't think it was a collections account. and the university would not release my transcript unless I pay them. So I paid the OC directly. I also contacted the university on why they are still on my credit report. they stated they only report transunion and it should only be on my CR for 7 years. My account shows paid or paid as agreed now and it is closed as of Jan 2008. I don't understand why the rep from transunion would state that it would fall off sometime 12/2012. So basically I can have a 20 year old account on my credit report and I am screwed trying to get the house.
01-09-2013 07:50 AM
Pull your TU report directly from annualcreditreport or transunion.com. If you go to TU directly make sure you aren't buiying one of their 3-in-1 reports or one of their CMSs. The full TU report will show an est. drop off date for this CA. IME, my est. drop off dates on TU were exactly 7 years from DOFD. You can get a general idea of whether or not it is reporting accurately.
01-09-2013 08:18 AM
Transunion sent me my credit report on 10/01/2012, I will double check but I don't remember seeing any estimated drop off date for this account.
01-09-2013 10:00 AM
I am unsure what the reported adverse item was from the post, but if it is an OC account and the item was not a charge-off, then the DOFD is immaterial.
The only use of DOFD is to determine the exclusion date of a collection or charge-off.
Apparently, the adverse item is a monthly delinquency? If so, the OC was never required to have reported a DOFD, so any attempts to determine the DOFD would be of no use with respect to credit reporting or exclusion.
If an account delinquency, the exlusion date is simply 7 years from its date of occurence.
01-09-2013 06:35 PM
I went back and checked the credit report. Its not a charge-off nor a collection. Okay this is an adverse account, they didn't report DOFD, however my deliquencies date past 12/2005. So basically what you saying is a 15 year old account can stick on your credit report because I paid it off. And since it was paid off you are stating it won't come off till the year 2015. If so that means I was damned if I do and damned if I don't.
01-09-2013 06:57 PM
I just read that because I paid off the debt I owed the university I reset the clock on the SOL. However it still does not make sense, because the SOL for Pennsylvania is 5 years, and I currently live in Texas and Texas SOL is 4 years.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.