topic Re: When will it drop off? in Credit Cards

When will it drop off?

IneedAlotOfHelp — Thu, 10 Mar 2011 00:29:01 GMT

I've read so many different conflicting bits of information on this topic... And I'm really confused as to when my bad collections will get dropped off.

For example:

Status as of Mar, 2008

Date opened Aug, 2006

Date of last activity Aug, 2007

Date closed Nov, 2007

Loan type Credit Card

I paid that collection off in full on April, 2009. Is it 7 years from DOLA? Is it 7 years from me paying off the collection? When will it be deleted from my credit reports?!

Thanks

Re: When will it drop off?

DI — Thu, 10 Mar 2011 00:32:19 GMT

February 2014 is when it will drop off.

Re: When will it drop off?

Anonymous — Thu, 10 Mar 2011 01:06:33 GMT

Just curious, how did you come up with Feb 2014?

Re: When will it drop off?

Anonymous — Thu, 10 Mar 2011 01:14:10 GMT

Status as of Date opened [?] Date of last activity [?]

Apr, 2010

Oct, 2003

Apr, 2007

Wondering when will this drop off my CR?

Is it April 2014?

Re: When will it drop off?

DI — Thu, 10 Mar 2011 01:14:34 GMT

@Anonymous wrote:
Just curious, how did you come up with Feb 2014?

7 years from the date of last activity plus 180(6months).

Re: When will it drop off?

DI — Thu, 10 Mar 2011 01:16:12 GMT

@Anonymous wrote:

Status as of Date opened [?] Date of last activity [?]

Apr, 2010

Oct, 2003

Apr, 2007

Wondering when will this drop off my CR?
Is it April 2014?

No! Feb 2014

Re: When will it drop off?

Anonymous — Thu, 10 Mar 2011 01:17:08 GMT

Status as of date = April 2010

Date opened = Oct 2003

Date of last activity = April 2007

When will this drop off my CR? Is it April 2014.

On my TU report is states that it will drop off in June 2012.

Why is there a difference?

Re: When will it drop off?

DI — Thu, 10 Mar 2011 01:20:00 GMT

@Anonymous wrote:
Status as of date = April 2010
Date opened = Oct 2003
Date of last activity = April 2007

When will this drop off my CR? Is it April 2014.
On my TU report is states that it will drop off in June 2012.
Why is there a difference?

Your date of last activity says April 2007. The OP's date of last activity says August 2007.

Re: When will it drop off?

MarineVietVet — Thu, 10 Mar 2011 01:22:44 GMT

@DI wrote:

7 years from the date of last activity plus 180(6months).

That's not quite correct. The DoFD (Date of First Delinquency) on the OC account that led to the collection is the only date that matters. No other date is applicable.

The DoLA could be the lastest monthly update on the account which means it would never drop off. The DoFD is what you need.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: When will it drop off?

Walt_K — Thu, 10 Mar 2011 01:25:53 GMT

@DI wrote:

@Anonymous wrote:
Status as of date = April 2010
Date opened = Oct 2003
Date of last activity = April 2007

When will this drop off my CR? Is it April 2014.
On my TU report is states that it will drop off in June 2012.
Why is there a difference?
Your date of last activity says April 2007. The OP's date of last activity says August 2007.

I think ty101 is asking why there is a difference in what his TU report says versus 7.5 years from date of last activity as opposed to why there is a difference in his situation versus the OP. His TU report says it will drop off in June 2012 when 7.5 years from date of last activity is October 2014. I don't know. I don't understand how this stufff is calculated. But I think that is the question.

Also, for the OP, wouldn't it be Feb. 2015?

Re: When will it drop off?

MarineVietVet — Thu, 10 Mar 2011 01:26:22 GMT

@Anonymous wrote:
Status as of date = April 2010
Date opened = Oct 2003
Date of last activity = April 2007

When will this drop off my CR? Is it April 2014.
On my TU report is states that it will drop off in June 2012.
Why is there a difference?

In my experience the drop off dates on TU and Ex are pretty accurate. But as I said in my last post the only applicable date as far as the CRTP (Credit Reporting Time Period) is concerned for both collections and charge offs is the DoFD.

Re: When will it drop off?

Walt_K — Thu, 10 Mar 2011 01:28:26 GMT

@MarineVietVet wrote:
That's not quite correct. The DoFD (Date of First Delinquency) on the OC account that led to the collection is the only date that matters. No other date is applicable.

The DoLA could be the lastest monthly update on the account which means it would never drop off. The DoFD is what you need.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

@Anonymous, I think that answers your question. Date of First Delinquency was probably earlier than the DoLA giving you a dropoff date in 2012.

Re: When will it drop off?

Anonymous — Thu, 10 Mar 2011 01:30:23 GMT

I'm sorry DI, my post is in reference to my situation not the OP.

Sorryyy

Re: When will it drop off?

Anonymous — Thu, 10 Mar 2011 01:33:52 GMT

I'm sorry for the confusion. In my post with the TU dropping off in Jan 2012, I was referring to my own situation.

Sorry guys for the confusion.