topic Re: De-Aging Rules in General Credit Topics

De-Aging Rules

Anonymous — Tue, 05 Nov 2019 23:38:05 GMT

What are the rules around de-aging on a credit report. I have a collections agency reporting with no mention of the dates from the original creditor. It only shows the date the collections agency reported and the last update. So my credit score is reflecting it as a newer item and I don't know when it should be actually removed because there are no original dates listed. If it's not 7 years old it will be next year, but the collections agency makes it look like it is a newer item.

Re: De-Aging Rules

FireMedic1 — Wed, 06 Nov 2019 13:51:20 GMT

What was the charge off date of the OC? Where may I ask are you looking at your reports from?

Re: De-Aging Rules

Remedios — Wed, 06 Nov 2019 14:21:00 GMT

It would depend on type of collection
If its associated with revolving credit and/loans, DOFD is the day first late occured.
If you need to know the date, pull a copy of free annual credit report.
If it's something like utilities, it's usually the date account went past due.
Collections report date exactly like yours is reporting with the date account was assigned to them, there is no re-aging there.
That date is not associated with removal date.

Re: De-Aging Rules

Anonymous — Wed, 06 Nov 2019 14:46:52 GMT

I am looking at my reports from free annual credit report. I don’t know the original dates because the OC does not report and the collections account doesn’t list them.

Re: De-Aging Rules

Anonymous — Wed, 06 Nov 2019 14:48:11 GMT

I first started looking into it because Experian alerted me I had a new late payment, and it was this old collections account.

Re: De-Aging Rules

Remedios — Wed, 06 Nov 2019 15:37:13 GMT

Who is the OC? When did the OC stopped reporting and why? Also, how much is the collection for?

Do you happen to have copies of older reports?

So many questions lol

Re: De-Aging Rules

Anonymous — Wed, 06 Nov 2019 16:19:35 GMT

Worst case, call the bureau. I’ve done that when I had a date question and they told me over the phone.

Re: De-Aging Rules

Anonymous — Wed, 06 Nov 2019 19:31:23 GMT

The original creditor is Capital One. The collections agency is Midland Funding. The balance is $811. When I use Credit Wise it shows the age of account as 4 years 1 month. Experian doesn't provide any dates. When I click review new data on experian, it says I have 1 new late payment in the last 60 days and lists the account.

Re: De-Aging Rules

RobertEG — Wed, 06 Nov 2019 21:18:46 GMT

When a debt collector has reported a collection to a CRA, that triggers the requirement under FCRA 623(a)(5) to additionally report the date of commencement of the delinquency period ("date of first delinquency") to the CRA no later than 90 days after reporting of the collection.

The DOFD, and the DOFD alone, then is used by the CRA to determine when the collection must become excluded from credit reports they issue. FCRA 605(c).

The date that a debt collector first reports their collection or makes subsequent updated reporting does not re-age the credit report exclusion date/period, and is not improper re-aging. Upated reporting that a debt remains unpaid then extends the total period since initial delinquency, and just as with other unpaid, delinquent debts, increases the scoring impact.

It is common that commercial vendors of credit reports will usually not include the DOFD in their normal credit reports.

However, it is required to be of record in your credit file no later than 90 days after first reporting the collection, and is usually included in the more comprehensive reports provided via annualcreditreport.com or directly from the CRA.