Epic Contributor
Posts: 23,364
Registered: ‎03-19-2007
Re: What to do now? EQ cannot tell me DOFD

While an account will, once it has any delinquency, always have a current DOFD, no reporting of DOFD to the CRAs is required until a party reports either a collection or charge-off to the CRA.  They are then required, under CRA 623(a)(5), to report the DOFD on the OC account to the CRA within 90 days.


DOFD has one and only one credit reporting use..... its needed by the CRA to calculate the statutory exclusion date of a collection or charge-off.


It is totally proper for an account not to have a reported DOFD unless a party has reported a CO or collection.