FCRA 605(a) states:
"Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:
(5) Any other adverse item of information, other than records of convictions of crimes, which antedate the report by more than seven years."
A repo is an adverse item of information, and reference thereto after 7 years is prohibited. Any credit report that contains any reference to that adverse item of information is thus a violation of FCRA 605(a)(5). That is not limited to only the initial reporting of the repo, it would include later references to payment status that refers to that adverse item of information. I would file a complaint with the CRA for their violation of FCRA 605(a)(5) for their continued inclusion of reference to this adverse item of information in your credit report by continued reference to payment after occurance of that adverse item of information. The repo is still, indirectly, being included in your CR. They just did not do a thorough job of deletion of reference to this adverse item, and you are entitled to its removal.
As for reporting of DOFD, once any DOFD is reported to your credit file, it remains until two things occur. One, the account is brought back into paid, good standing, and two, a new date of first delinquency occurs. However, the DOFD has absolutely no relevance once an account is brought back into good standing, as it will never be used by the CRA to calculate a CR exclusion date based on a first delinquency in the most recent chain of delinquencies, so it remains simply as a place-holder. The prior DOFD is not erased, a new one that has not yet occured is just not reported. A credtior cannot charge-off an account in good standing, or place it for collection, until a new delinquency occurs. DOFD is only relevant to the calculation of the CR exclusion period under FCRA 605(a)(4)/605c, and has no other purpose under the FCRA. An old DOFD in your CR may be totally meaningless.
Here is a sample scenario:
3/2002 new account opened DOFD reported: credit file contains NO reported DOFD. It is a blank entry.
5/2003 a 30-day late occurs DOFD: 5/2003 (if reported; there is no requirement to actually report any DOFD until after a charge-off or collection referral)
6/2003 a 60-day late occurs DOFD: remains 5/2003, if one was reported
7/2003 account paid, in good standing DOFD: remains 5/2003, if one was reported
8/2003 account paid as agreed DOFD: remains 5/2003, if one was reported, but is now irrelevant
9/2003 a 30-day late occurs DOFD: if reported, must update to 9/2003
10/2003-12/2003 60/90/120 lates reported DOFD, if reported, must remain 9/2003
1/2004 a charge-off or collection is reported DOFD: Mandatory reporting of a DOFD is required within 90-days of the CO or collection referral, with a date of 9/2003
That becomes the first legally-mandated DOFD reporting, and must be 9/2003
3/2004 account is paid DOFD in credit file remains 9/2003; any CO or collection must cease credit report inclusion after 3/2011
And, needless to say, it is not reporting of the account that must cease after the required date under FCRA 605(a), it is only the inclusion of the adverse item of information under that account.
