Mega Contributor
Posts: 18,503
Registered: ‎03-19-2007
Re: Having trouble understanding when items will come off my credit report.
[ Edited ]

I must differ.  \Date of last activity (DOLA) by anyone, be they the OC or a CA, has nothing to do wth credit reporing.

For any collection or charge off, the date of drop from your CR is set at one date-certain that is unrelated to any DOLA.


It has absolutley nothing to do with any date ever reported by the CA, be it the date they reported their collection activity, any date of last last activity on the account,  date assigned, or all of that meaningless fluff.


Congress enacted amendment of the FCRA by passage of FCRA 605(c) back in 1998 to put this issue to rest.


Ignore ANYTHING and EVERYTHING the collection agency has posted in their reportings to the CRAs.  A CA can do nothing, zip, nada, to reset the statutory drop offf date of their reporting to your CR.


Just read FCRA 605(c), as it amended FCRA 605(a)(4), and the answer is simple.  It goes back only to the original creditor account.


It works, in plain English, like this.

Haul out your records with the original creditor.  Ignore the CA.  Find the date that you FIRST went into default with the original creditor (OC), which is usually the date of your  30-day late from which you  never thereafter brought the account back into paid, goood standing with the OC before they did a charge off, collection, or whatever.


That is what is commonly referred to as your date of first default (DOFD). on the OC account.  Again, nothing at ALL to do with the CA reporting.


FCRA 605(c) mandates that any collection or charge off can only remain in your credit report for 7 1/2 from the date of that DOFD on the OC account.  That is rock-solid law.


Your documentation is records with the orginal creditor, not with any CRA or collection agency.