topic Re: Delinquencies Falling Off Earlier than Expected in General Credit Topics

Delinquencies Falling Off Earlier than Expected

VanderSnoot — Sat, 07 Sep 2019 13:31:59 GMT

I pulled reports from CCT last week, and I was surprised that some of my delinquencies have aged off earlier than I expected. I have delinquencies on 4 accounts from late 2012 to mid 2013 that are starting to age off. I may move next spring, so the timing of these accounts falling off could be important (the move is unconfirmed, so for now I'm just watching).

Account 1

10/2012 - 30 days -- Removed 9/2019 (not 10/2019)

11/2012 - 30 days -- Removed 9/2019 (not 11/2019)

12/2012 - 30 days

EQ - No delinquency reported

From what I read here, I expected each 30 day delinquency to be treated as individual strings and to age off at the 7 yr anniversary. Instead, EX treated the successive 30 day delinquencies as 1 string (TU didn't), and EX removed 1 month before the 30 day delinquncy (which makes sense, because the DOFD is when the account is 1 day delinquent, not 30 days delinquent). Strangely, TU removed it 2 months early, which even if you agree with the 1 day delinquent theory is still 1 month early.

Projecting forward based on these removals, my EX may be clear in Feb (TU in March) rather than May, which in the scheme of things is small, but is exciting to me and will be helpful if I relocate.

Re: Delinquencies Falling Off Earlier than Expected

Remedios — Sat, 07 Sep 2019 15:11:34 GMT

Congrats!

Re: Delinquencies Falling Off Earlier than Expected

VanderSnoot — Sat, 07 Sep 2019 15:42:58 GMT

Yeah, it is good news, if confusing. If you go by the DOFD being 1 day delinquent and not 30 days, then a delinquency showing on EX under Account 2 (12/2012 - 90 days delinquent) should also have aged off, but it didn't. I don't understand why EX would treat the accounts differently. Perhaps because one is a mortgage and the other is a school loan?

Re: Delinquencies Falling Off Earlier than Expected

Remedios — Sat, 07 Sep 2019 15:55:31 GMT

They should go by DOFD but keep in mind, it's first Saturday of the month

EX purges other info (such as two year old HP) on the first Saturday of the following months, so maybe it got accidentally swept

I think they are just doing some house cleaning. There is nothing preventing them from removing it early. They just cant let it sit longer than 7.5 years, so CRA do it around 7 year mark in order to avoid going over the legal max wich is 7.5 years.

Re: Delinquencies Falling Off Earlier than Expected

Aspireto850 — Sat, 07 Sep 2019 16:02:28 GMT

@Vandersnoot,

That is awesome. Let us know how this impacts your scores.

Coincidentally, I Was on the phone with EX yesterday and asked about a removal from 2013 and she said those gets removed when the entire tradeline gets deleted in 7 years. While I know that’s not how it works; the inconsistency in Agent education across the bureaus is just mind blowing!

Re: Delinquencies Falling Off Earlier than Expected

VanderSnoot — Sat, 07 Sep 2019 16:16:10 GMT

My reports don't provide DOFD (which lead to several posts here from me about how to calculate DOFD). Somewhere around here RobertEG explained why reports don't always provide DOFD, and while I've forgotten the reason, I trust that he's right. I will keep monitoring for changes.

I thought people here would like to know that in the absence of a DOFD, delinquencies may be removed in advance of the month in which the loan became 30 days delinquent.

@Remy - thanks for sharing that tidbit on EX. I'll pull my reports a little later to ensure I capture those changes.

@Aspire - that's funny. Hopefully someone sets that CSR straight.

Re: Delinquencies Falling Off Earlier than Expected

Remedios — Sat, 07 Sep 2019 16:19:55 GMT

Most reports do not show DOFD, but those must be provided/reported to CRA within a certain period of time.

A lot of times, a free annual credit report will have them listed. So, if you haven't grabbed a copy in the past year, this would be a good time.

If you have old copies of free annual credit report, see if it's on there

Re: Delinquencies Falling Off Earlier than Expected

VanderSnoot — Sat, 07 Sep 2019 16:29:53 GMT

Done, done, and done. The only thing I haven't done is called the bureaus and asked. No good reason, other than a generalized dislike of talking to customer service reps.

Re: Delinquencies Falling Off Earlier than Expected

Remedios — Sat, 07 Sep 2019 16:32:39 GMT

It's not like they are even aware of their own polices lol

They should be looking here before answering questions lol

Re: Delinquencies Falling Off Earlier than Expected

Remedios — Sat, 07 Sep 2019 16:33:05 GMT

I lol'ed twice. That's out of character

Re: Delinquencies Falling Off Earlier than Expected

Aspireto850 — Sat, 07 Sep 2019 16:53:00 GMT

@Vandersnoot,

Cannot imagine why you have a ‘generalized dislike’ to talking to CSRs!! I have no experience in this area AT ALL!! 😉

Re: Delinquencies Falling Off Earlier than Expected

VanderSnoot — Sat, 07 Sep 2019 17:07:01 GMT

@Aspireto850 wrote:
@Vandersnoot,

Cannot imagine why you have a ‘generalized dislike’ to talking to CSRs!! I have no experience in this area AT ALL!! 😉

LOL, I also have a slight fear that they'll screw something up - like update the account - resulting in 7 more years of waiting. I'm looking at you, EQ and EX.

Yep, better to just sit back and hope to be pleasantly surprised.

Re: Delinquencies Falling Off Earlier than Expected

VanderSnoot — Sat, 07 Sep 2019 17:53:33 GMT

One last thought ... do the delinquencies age off on the exact anniversary (rather than the first of the month)? That might explain why an account that must have had its DOFD in Sept 2012 is still on my report. For example, if the payment was due 9/20/2012, the DOFD would be 9/21/2012 and the delinquency would age off 9/20/2019. That said, mortgages and education loans are generally due on the 1st, I believe.

Re: Delinquencies Falling Off Earlier than Expected

Anonymous — Sat, 07 Sep 2019 18:59:51 GMT

Not a delinquency, but I had a paid collection fall off of EQ early. According to their previous fall off date, i still had another year. But as recent as a few days ago I no longer see it listed on CK. At least where it used to be.