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Should I fight DOFD with Equifax?

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Anonymous
Not applicable

Should I fight DOFD with Equifax?

Chase

Equifax reports DOFD 12/09

81 mth history on report shows 30 days late 8/09 and no payment ever made after that so 8/09 should be DOFD

TU & Experian both show DOFD 8/09

 

Gap

Equifax shows DOFO 12/09

81 mth history on their report shows 30 days late on 8/09 and no payent ever mde after so 8/09 should be DOFD

TU & Experian both show 7/09 ad 9/09

 

USBAnk

Equifax DOFD 2/10

81 mth history on their report shows last payment made 8/09

(not on other CRA)

 

I called Equifax to explain they have the wrong DOFD.  SHe says its based on DOLA.  I said no, blah blah, she said we can file dispute.  Of course it came back that they are reporting correct DOLA!!!  ugh.  I know its only 4-6 months but I really want to get a mortgage in 2016 and Equifax will push it to 2017 with incorrect DOFD.  Is this worth fighting?  Any advice?

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Should I fight DOFD with Equifax?

I have a very similar issue and I think it is very much worth fighting for.

 

I have one account that is incorrect and only on EQ.  It was corrected on EX, and an EE from TU. 

 

It was a CO from a GECC / JCP and the CA (Security Credit Services) has an incorrect DoFD and the OC was correct.  I only noticed it after joining myFico and learning how to actively look for corrections and improvements.

 

The account has actually rolled off the other two CRAs and is still showing on EQ.  A good 32 point difference between the lowest score of the other two and the score on EQ.

 

What is also frustrating is that the account from the OC has rolled off EQ correctly and the CA is still there. 

 

Of course, I do not have any documents from way back that would identify it precisely, and I have disputed it, and it came back 'verified'.

 

If I cant find an older CR from EQ soon, I am considering submitting a dispute with EQ and providing an older CR from EX and or TU showing the correct DoFD with the OC and the relationship to the CA account.

 

Anyone know if info from a different CRA would be sufficient evidence to get the DoFD corrected on the CA account in EQ?

 

I doubt it it makes a difference, but the CA account was settled for less than full more than 3 years ago.

 

 

redd89 - You are correct, it could cost you thousands on a mortgage app!

 

 

 

 

 

 

 

 

 

 

 

Message 2 of 8
RobertEG
Legendary Contributor

Re: Should I fight DOFD with Equifax?

The post relates to three different accounts, with the US Bank account asserted to have an inaccurately reported DOFD.

 

What derogs were reported on the account?

Monthly delinquencies, a charge-off, and/or a collection?

 

DOFD is required to be reported by the OC if and only if they reported a charge-off.

DOFD would be required to be reported by a debt collector if a collection is reported.

Additionally, the date of a repored 30-late cannot be assumed to be the DOFD. 

I am unsure if DOFD was required to be reported, and if so, who reported it, and why it is considered to be inaccurate.

Message 3 of 8
Anonymous
Not applicable

Re: Should I fight DOFD with Equifax?


@Anonymous wrote:

Chase

Equifax reports DOFD 12/09

81 mth history on report shows 30 days late 8/09 and no payment ever made after that so 8/09 should be DOFD

TU & Experian both show DOFD 8/09

 

Gap

Equifax shows DOFO 12/09

81 mth history on their report shows 30 days late on 8/09 and no payent ever mde after so 8/09 should be DOFD

TU & Experian both show 7/09 ad 9/09

 

USBAnk

Equifax DOFD 2/10

81 mth history on their report shows last payment made 8/09

(not on other CRA)

 

I called Equifax to explain they have the wrong DOFD.  SHe says its based on DOLA.  I said no, blah blah, she said we can file dispute.  Of course it came back that they are reporting correct DOLA!!!  ugh.  I know its only 4-6 months but I really want to get a mortgage in 2016 and Equifax will push it to 2017 with incorrect DOFD.  Is this worth fighting?  Any advice?


Send a direct dispute (FCRA 623) to Chase and US Bank, asserting an incorrect DoFD. 

Message 4 of 8
RobertEG
Legendary Contributor

Re: Should I fight DOFD with Equifax?

Since creditors are not required to report each and every delinquency and payment is only indirectly related to whether the payment meets the min amount and timeliness standards set in a billing statement, one cannot determine the DOFD by using the payment history profile of reported delinquencieis or payments.

It is thus not deduced by the CRAs from other information, but is required under FCRA 623(a)(5) to be separately and explcitly reported to the CRA after reporting or either a charge-off or collection.

 

Thus, one must know the actual DOFD that was reported by the creditor or debt collector before one can dispute its accuracy.

It is commonly omitted from many commercial credit reports, but can usually be found in reports obtained via annualcreditreport.com or directly from the CRAs.

If those reports dont show the reported DOFD, a consumer is entited to file an info request under FCRA 609(a)(1) for any information of record in their file.

Message 5 of 8
crrredit
Established Contributor

Re: Should I fight DOFD with Equifax?


@RobertEG wrote:

Since creditors are not required to report each and every delinquency and payment is only indirectly related to whether the payment meets the min amount and timeliness standards set in a billing statement, one cannot determine the DOFD by using the payment history profile of reported delinquencieis or payments.

It is thus not deduced by the CRAs from other information, but is required under FCRA 623(a)(5) to be separately and explcitly reported to the CRA after reporting or either a charge-off or collection.

 

Thus, one must know the actual DOFD that was reported by the creditor or debt collector before one can dispute its accuracy.

It is commonly omitted from many commercial credit reports, but can usually be found in reports obtained via annualcreditreport.com or directly from the CRAs.

If those reports dont show the reported DOFD, a consumer is entited to file an info request under FCRA 609(a)(1) for any information of record in their file.


If the DoFD you get directly from the CRA is wrong, how can you prove it?

Message 6 of 8
Anonymous
Not applicable

Re: Should I fight DOFD with Equifax?

I would think by either obtaining receipts of payment from your bank, or in my case, 2 Bureaus correct 1 incorrect.

 

still digging for inaccuracies bc if that's there, they might be more before I submit to the OC. 

 

Always remember, correct wording in contacting bureaus, CA and OC IS OF THE UPMOST IMPORTANCE! Smiley Wink

Message 7 of 8
RobertEG
Legendary Contributor

Re: Should I fight DOFD with Equifax?

Proof would be in the form of account billing records showing that the account was in good standing in month A, and delinquent in month A+!, and remained delinquent thereafter up to the date of the relevant charge off or referral to collection.

Message 8 of 8
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