can OC add lates to your report years later?

[tomfromrictmame]

---

@Anonymous wrote:

As I understand it, DoFD applies to a COLLECTION item. This is not a collection item, it is a payment history of an installment loan. As I said earlier, each 'late' is its own item and will fall off INDIVIDUALLY. When you consolidated you essentially brought the loan up to date, removing it from any collection status it may have been in.

If I'm wrong here (and I certainly could be), I'm sure RobertEG or another expert can confirm or correct me.

---

+1.  If this is not a collections account, the individual derogatory marks will fall of individually.  Best to verify exactly how this is reporting on your individual CRs directly from the CRA's

[taxi818]

Dofd applies to any default. ChRge off. Not just a collection. Repo. Date of first delinquency. Does not matter. And no. Lates associated with them will fall off as well period.

[taxi818]

I just had charge off fall off 2 months ago. All lates gone. Op never made a single payment. Because they changed lates. Does not matter. He still did not pay as he stated. Just go to cra. Look at your full report. And it will have your dofd or dola there. Then you will know date.

[Anonymous]

Key word here is 'default'. OP stated he consolidated. That essentially removes the default and places the original loan in paid status does it not?. The account simply says 'closed', no negative connotation anywhere (other than the lates) - therefore no reason to automatically remove the tradeline at DoFD.

I geuss the real question here is (and I'll admit I'm not certain of the answer) does the student loan consolidation remove the default status of the original loan? I know federal student loans have some wacky rules attached to them, but I would tend to think that it does. 

[Anonymous]

Question for the OP - are there any *other* individual negative items in the report that are associated with these loans?

[taxi818]

Well he did not state if federal loan. If so. It will never go away

[Anonymous]

You can easily argue that the "default" is the month you were first late on installment or credit card.   Medical bills if unpaid, generally are in default day 31 after service and have successfully argued that as well.   Sometimes it is to your advantaqe to prove default earlier than OC says.

Good luck.

Current Scores:
MyFico 9/14 EQ 748, TU 702, EXP 685
EQ neg-0, TU neg 60 day late 1 time, EX 3 CA from 2008
MyFico 10/1 EQ 748, TU 599, EXP 685
Applied for two credit cards and car loan, 2 HP dropped the score

[Anonymous]

Sallie Mae is federal student loan isn't it?

[xosamandaxo]

I have 5 sallie mae tradelines, they were transferred to(?) United Student Aid Fuds (affiliated with SM somehow) in 2010 and they are reporting the same debt as well. Those are noted as "Paid Collection", where as the Sallie Mae ones are noted as "Debt being paid by insurance" "Claim filed by Govt" etc

All of my reports give me fall off dates for these accounts, and either are 3/2016 or 4/2016 (where as my Nelnet loans that I got at the same time are due to fall off 2015. Nelnet had me at 120 days late and never threw me back into OK status like Sallie Mae did. So the math makes sense that the date on my reports is 7 and whatever years from my last "OK" status on their payment history)

It seems as if the 2011 consolidation of all loans did not restart any type of time limit.

Is it worth me asking CRA or Sallie Mae about this?

[xosamandaxo]

Just checked a copy of my TU report.

All 5 Sallie Mae tradelines have me "OK" until the 6 months was up after grad and I had to start paying. Makes sense. Then I went to 90 and 120 days late on all of them, then around 10/2008 I went to OK status for 6-9 months depending on the tradeline. Then after that I went to 90, 120, then Sallie Mae changed me to "debt being paid by insu" and my debt went to United Student Aid Fund for a couple months as a collection (now paid collection), then I went to Dept of Edu for consolidation after I made a call and started clearing my life up.

I have zero clute why they gave me OK payment history out of no where/had been over 200+ days late. I definitely didn't pay, attend class, apply for deferment etc