Credit Card Center Advertiser Disclosure

Reply
New Member
Posts: 4
Registered: ‎08-10-2016
0

DOFD Nelnet

I'm trying to get an understanding of how DOFD works. I went into delinquency in June of 2012. Per my Nelnet payment record there was no activity until January 2014. Now, since January 2014 I have remained in goodstanding and am still paying off my loan.

 

My credit report currently states, "Current account/was delinquent 180 days or more past due date".

 

I'm curious, since I meet the 7 year mark this June, will the entire status of "was deliquent...." come off of my report? I'm sorry if this has been repeatedly answered. I really need it broken down. The posts I've found are different situations or using the terminology I'm not quite familiar with just yet. What I did gather is that the removal completely applies only if the account never becomes current.

 

Thank you!

Highlighted
Established Contributor
Posts: 870
Registered: ‎06-23-2010
0

Re: DOFD Nelnet

Hi Alicia:

 

Great question.  Here is some info on DOFD.  This typically only applies to accounts that have gone deliquent and there has been no other activity on that account, including no payments made.  Then what happens is in most cases that account falls off your credit report 7 years after DOFD.

 

This is not the same case for current accounts where payments are being made.  Any baddies that you have on this account will remain for 7 years.  To give you an example.  Lets say that you had a 30day late on this account back in March 2010.  Well, since that 30 day late is now 7 years old, it will be falling off your report.  But if you had another 30 day late in December of 2010, that would remain on your report until it's 7 years old because it's a current account.

 

So, the good news is that the report is more favorable because it's no longer in a deliquent status and shows current.  Also, it's favorable if your most current payment history (especially the most current 2 years) has no late payments.  This then makes your older late payments hurt your score less as they continue to age.  Keep doing what you are doing to continue making on time payments.

 

As a second part to this, you may want to check with Nelnet to see what type of forebearance scenarios they support because if one of those scenarios applied to your situation during the times the account was deliquent, you could possible submit paperwork to them proving this in an effort to help clean up that file.  Otherwise, time will do the clean up for you, and most importantly, be sure to keep up on payments.  A current late payment hurts your score much more than the aged ones.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 712 (02/03/2017) Tu: 717 (04/03/2013)
Goal Score: Eq: 760 Tu: 760

Wallet: PenFed Power Cash 25k | AMEX Blue Cash (AU) 49.5k | Cap One QSMC 26.5k | AMEX Platinum NPSL | LFCU Visa 10k

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.