Re: 7 year removal
06-16-2012 05:46 PM
The ONLY time DOFD is relevant is with respect to a collection or charge-off. It has zero relevance to monthly delinquencies, or any other adverse item of information.
Charge-offs and collections have a CR exlusion date of 7 years plus 180 days from the DOFD, defined as the first date of delinquency in the most recent chain of delinquency that preceded the collection or charge-off.
Monthly deliquencies each have their own exclusion date of 7 years after the date of their delinquency.
Tax liens are excluded after 7 years from date of payment. They are the one type of adverse action where the date of occurence does not control, but rather the date of payment of the debt.