Removal dates

[tommysofly]

hello all,

i have a couple question.

I was wondering i owed one credit card and it have a bad report with the OC and it was charged off so i have another bad marks on my CR  with a CA also, and the collection agency sold it to another CA, how do i caculate the time frame it will fall off, do i caculate when the first DOFD with the OC?

and after the 7 1/2 year have passed does the bad marks on my CR automatically fall offs? or do i need to ask it to be removed?

and what if they dont remove the bad report on my credit reports after 7 1/2 years ? what should i do?

[JoeBJay20]

The account credit reporting time period (CRTP) is determined by when you first became delinquent and never again became current, also known as the date of first delinquency (DOFD).  This date is set in stone and cannot be changed by the OC, CA, or CRA.   For any one account, the CRTP is the same length regardless of whether an OC or CA is reporting the account.  Once the CRTP has expired, the accounts should automatically fall off your credit reports.  If this does not occur, you would simply need to dispute the listings with the CRAs as obsolete. 

[tommysofly]

where can i find that DOFD on my credit reports?

i just ordered a free report from annualcreditreports.com  will it show my DOFD on there ?

or do i have to order a paid one directly with the CRA?

[MarineVietVet]

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@tommysofly wrote:

where can i find that DOFD on my credit reports?

i just ordered a free report from annualcreditreports.com  will it show my DOFD on there ?

or do i have to order a paid one directly with the CRA?

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You get full reports from annualcreditreport.com. The Experian and Transunion reports should have the date of drop off and the Equifax will have the actual DOFD. IME.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

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[RobertEG]

If you have account records for the OC account, you can determine the DOFD yourself.  DOFD dates included in many credit reports are often incorrect, and your legal proof is your account records.

Find the last chain of delinquencies on the OC account that preceeded any CO or CA reporting, and then fiind the first delinquency in that chain.  That is your DOFD.  It is the same date, even if both a CO and CA have reported.

No, you dont have to request deletion of a CO or CA once the 7 1/2 year period has run.  FCRA 605(a) puts the responsibility on the CRAs to cease reporting of the CO and/or CA.  If they dont, then file a dispute with the CRA for improper reporting under FCRA 605(a).

[tommysofly]

ok so let's just say i owed a couple of credit card debt and it was CO and brought by CA, If i pay the CA they will update my credit report showing it is paid in full and it will take 7 1/2 years to be removed.

So what if i dont pay the debt with the CA? what will happen? will the bad marks still fall of within 7 1/2 years anyways?

what do you guys suggest i do. should i pay the CA or just leave it alone and let it fall off?

i have another year on the SOL to pass on all of the  credit card debt i owed.

[MarineVietVet]

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@tommysofly wrote:

ok so let's just say i owed a couple of credit card debt and it was CO and brought by CA, If i pay the CA they will update my credit report showing it is paid in full and it will take 7 1/2 years to be removed.

So what if i dont pay the debt with the CA? what will happen? will the bad marks still fall of within 7 1/2 years anyways?

what do you guys suggest i do. should i pay the CA or just leave it alone and let it fall off?

i have another year on the SOL to pass on all of the  credit card debt i owed.

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It doesn't matter what happens to this account as far as the DOFD is concerned. That date is set in stone. Nothing can change it. Whether you pay anyone or not if the account is a CO or collection it will disappear at 7.5 years from the DOFD. The debt will always be there however. It just won't report at the CRA's.

What you decide to do is up to you.

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

[tommysofly]

I means in texas the SOL date is  4 years and 7 1/2 years for the mark to fall of my CR

after that 7 1/2 years it will fall off and they cant sue me anymore cause the SOL date has passed.

what can they do to me if it's still there?

Is it going to come back and haunt me in the future?

can i still start building my credit over agian?

[MarineVietVet]

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@tommysofly wrote:

I means in texas the SOL date is  4 years and 7 1/2 years for the mark to fall of my CR

after that 7 1/2 years it will fall off and they cant sue me anymore cause the SOL date has passed.

what can they do to me if it's still there?

Is it going to come back and haunt me in the future?

can i still start building my credit over agian?

---

What would I do? I would pay the CA after the 7.5 year point (If I made it past the SOL) just so my  conscience is clear. That way the debt will truly be gone for good. And you don't have to wait for anything to continue repairing and rebuilding.

The best and easiest thing you can do for yourself is always pay on time. Payment history is 35% of your total score. If you have other credit cards keep your utilization very low (1-9%). Don't apply for new credit very often. Let the accounts you have age. If you do these things without fail your scores will begin to recover. But there are no quick solutions, no magic formulas. It takes much longer to get out of credit trouble than it does to get into it.

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

[tommysofly]

sorry for bumping this thread since it's so old

but i also have one more concern

I just checked my credit report recently and some of the collection account doesn't have a fall off date on it on my experian report?

what should i do???

its really driving me crazy because most of the bad reports i have suppose to fall off in 2014 which is another year

but some of the bad reports doesn't have a fall off date on it???

should i call experian and dispute it or is it normal for some reports to not have a fall off date?

please let me know what i should do