"Recent" Collection - DFD 08/2014

[Anonymous]

I pulled my reports today using Experian... one of the tabs lists "Factors" showing new collections as a negative contributer. I understand a DFD is used to calculate when an account/collection must be removed from your report, but how can a recent collection for an older cc impact your score negatively if DFD is supposed to carry over from the initial account? Should I dispute the dates with the bureaus, and if so, how? Will this increase my score? The date of the collection being added is 05/19/2016. Thanks!

Recent collection + PR

You have a recent public record and/or collection on your credit report.

Your most recent collection occurred

11 Months ago

The recency of a public record (such as a bankruptcy or tax lien) and/or a collection is a powerful predictor of future payment risk. If this item is valid, satisfying the public record or paying off the collection will not remove it from your credit report. The fact that it occurred is still predictive of future payment risk and will be considered by your FICO® Score. However, as the item ages and falls off of your credit report, its impact on your score will gradually decrease. Most public records and collections stay on your report for no more than seven years - though there are certain items that could remain longer.

[Anonymous]

Is the collection unpaid?

[Anonymous]

Hello! It is unpaid, or, moreover I should say they are unpaid. There are 2 Capital One accounts now showing with Portfolio Recovery. Both have DFD of 08/2014 and both of the collection accounts show date opened of 05/2016.

[Anonymous]

The collections are recent, and it's possible their recency will continue to update until it's paid off.

The date opened has nothing to do with dofd. It will still have to be removed at 7 years + 180 days from the charge off date.

[RobertEG]

A "recent" collection simply means that it was recently added.

The debt collector reports the Open date for a collection as the date they received collection authority.

Adding a collection adds a major derog to scoring, and update of a collection prevents it from aging in scoring impact.

Thus, the recent reporting is clearly a negative scoring factor.

However, the collection is removed, regardless of when reported or opened, no later than 7 years plus 180 days from the reported DOFD.

It is unclear from the post as to what is inaccurate in the reporting.

The DOFD appears to be accurate, as does the Open date.

Statement that the addition of the collection results in a recent negative impact is not per se reported by a furnisher, and is not a reported date that can be disputed as inaccurate.

If removal of the collection is desired, the normal process is to offer a PFD in exchange for deletion.

Filing a dispute that lacks a specific asserted inaccuracy in reporting is not likely to foster any future favorable grant of a PFD or GW deletion, and could in fact hurt chances of removal of the collection.