Spoke to Transunion lady...dofd vs dola

[agforfree5]

I spoke to Transunion CS rep and she mentioned to me that a  CLOSED account with Delinquencies  (NOT CA) will get removed/fall off from the report 7 years from DOLA. She states that only CA accounts are removed/fall off 7 years from DOFD.

Is this True?!?

I thought Negative (Non-CA) closed accounts also get removed/ fall of 7 years from DOFD, not DOLA. But I guess I was wrong.

Could someone please clear this up from me.

[ccnewcc]

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@agforfree5 wrote:

I spoke to Transunion CS rep and she mentioned to me that a  CLOSED account with Delinquencies  (NOT CA) will get removed/fall off from the report 7 years from DOLA. She states that only CA accounts are removed/fall off 7 years from DOFD.

Is this True?!?

I thought Negative (Non-CA) closed accounts also get removed/ fall of 7 years from DOFD, not DOLA. But I guess I was wrong.

Could someone please clear this up from me.

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Do you mean lates?

If you mean lates, then yes.  7 yrs.

Reason is:  The account will eventually report as a Postive TL once the lates age and fall off.  And postitve TLs that have never been sent to a CA will stay on your CR for 10 yrs.

So, the TL will stay for 10 yrs but the lates will drop off in 7.

[agforfree5]

Yes lates and charge offs on Closed accounts.

I understand that it falls off in 7 years. My questions is: Does the 7 year start with the DOFD or DOLA on these closed accounts with delinquencies?

[ccnewcc]

Each Late on the TL has its own exclusion date.  They all don't fall off at the same time.  Each Late falls off 7 yrs after each one of the lates occured.

The TL turns Positive.  So the TL will not fall off in 7 yrs.  10 yrs.  And the 10 yrs is from the when the account was closed.  Account Closed Date is not the same as DOFD or DOLA.  (Although the DOLA and the Account Closed Date can coincide.)

[Shogun]

You are right, the TU lady was wrong. The DOFD sets the CRTP clock for CO's.  This is 7 years + 180 days from the DOFD.  Individual lates on an account that is not COd fall off 7 years from their respected dates.  Positive accounts fall off generally 10 years from the DOLA.   CAs fall off 7 years + 180 days from the DOFD set by the OC.  Hope that clears it up for you.

[jadeite788]

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@agforfree5 wrote:

Yes lates and charge offs on Closed accounts.

I understand that it falls off in 7 years. My questions is: Does the 7 year start with the DOFD or DOLA on these closed accounts with delinquencies?

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It is the  DOFD, I already spoke to Transunion last month on this in regards to a closed paid off account.

[agforfree5]

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@Shogun wrote:

You are right, the TU lady was wrong. The DOFD sets the CRTP clock for CO's.  This is 7 years + 180 days from the DOFD.  Individual lates on an account that is not COd fall off 7 years from their respected dates.  Positive accounts fall off generally 10 years from the DOLA.   CAs fall off 7 years + 180 days from the DOFD set by the OC.  Hope that clears it up for you.

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This certainly does clear it up for me. This is why I absolutely love this forum. Thank You guys!

[beb86]

I mean the lady at TU has no idea what she was talking about.... I mean a CA with a DOFD? isn't that kinda like every collection

[agforfree5]

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@beb86 wrote:

I mean the lady at TU has no idea what she was talking about.... I mean a CA with a DOFD? isn't that kinda like every collection

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I don't quite follow. What do you mean?