topic Re: removal date calculation in Understanding FICO® Scoring

removal date calculation

rosco75 — Tue, 18 Apr 2023 12:50:04 GMT

When reading a report generated here by MyFICO - if I am wondering what date the negative TL will drop off - do I look at the closed date, or the date of last activity or date of last updated to begin my 7 year countdown? I am having a hard time understanding which date is used.

Re: removal date calculation

JoeRockhead — Tue, 18 Apr 2023 13:20:37 GMT

Hard to tell without more information. When you say negative TL, what made it negative? Was it a charge off?. If so your date would go by the date of first default that led to the CO.

Re: removal date calculation

fury1995 — Sat, 22 Apr 2023 11:18:50 GMT

Agree with JoeRockhead. Depends on what's reporting on that trade line.

Deletion occurs at the earliest when the DoFD reaches 7 years and in some cases by request at 6 years 6 months for Transunion and 6 years 9 months for Experian.

Re: removal date calculation

Brian_Earl_Spilner — Sat, 22 Apr 2023 03:43:51 GMT

Derogatory accounts can stay on your reports for up to 7.5 years from date of first uninterrupted default. Any derogatories before the account was brought current will roll off at about the 7 year market. When they'll specifically be removed depends on the bureau. If you want an exact date for derogatory accounts, pull your free annual report and they list the expected date of removal.

Re: removal date calculation

rosco75 — Fri, 28 Apr 2023 13:18:50 GMT

Sorry for the late response. I will use one item in particular for this example. This was a vehicle loan that I made the mistake of co signing for an ex of mine back in 2013. She was constantly late and even had it repossed at one point. I tried VERY HARD to work with the creditor to not report but it is what it is. At the very beginning of 2020(january) it was paid off and closed. So im wondering if I go by the date of the very first late payment? Or the date that it was "updated"? Its so confusing to look at. Here are the screenshots of the tradeline to show what I mean.