I'm trying to determine the Date of First Delinquency to figure out when the 7 1/2 period starts on a private student loan that is not government backed. Looking at this trade line, they list my date of first delinquency on 12/2010. I don't feel this is accurate and contradicts all other data presented.
The 81 month history shows 60 as far back as July 2006. Just going off this data alone, shouldn't it be around this period without me having to provide proof for a date even further back than that?
There are old trade lines of some accounts they had closed out that show a last payment of 5/04, indicating collection on these accounts began back then. They then closed all these accounts and opened new ones which I believe may be a way for them to re-age the accounts as well by altering the original numbers.
Thoughts? I'm new to all this so could use some help in interpretting it. Thank you so much!
Apparently there was an old post of them doing something similar to someone else (with no status update from the original poster on their results):
Found another example of them doing it to someone else (with no status update from the original poster on their results):
Did a little research into this and found the following...
The (Date of First Delinquency) DOFD is the date a consumer first becomes 30 days late, never brings the account current, and then a charge off ensues. Charge offs generally occur when payments aren’t made for 6 months, which means a negative entry shouldn’t remain on your credit reports for longer than 7.5 years, or 7 years from the charge-off date.
The confusion arises when consumers try to find their DOFD and they get it confused with the Date of Last Activity (DOLA) or something else on their credit reports. The DOLA can be any transaction on an account, such as the date the account was sold to a collection agency, charged off, or even the date the account was updated after a consumer dispute.
So here’s what you need to keep in mind as you’re reviewing your credit reports for important dates. While DOLAs often change for an account, there’s only one DOFD. It should never change.
Welcome to the forums!
It does look like the date that you became delinquent & never caught up again is 12/2010, which is what they are reporting, even though for some reason it says your last payment was in 2007. The important part of that sentence is "never caught up again." DOFD is kind of misleading that way
Also, if your loan got transferred for some reason, I don't know exactly why your original accounts were closed, the numbers would of course be different, because the amount you owed was less, no extra interest or penalties, etc.
I hope this helps you.