topic Re: Drop Off Date (7 years from when??) in General Credit Topics

Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 02:28:16 GMT

When would a delinquency drop off my report...

Seven years after the...

1) Date Closed

2) Last Payment

I don't see the following in MyFico, but they've appeared on other reports:

1) Date Last Reported

Thank you

Re: Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 03:58:48 GMT

If it's a late payment, collection, charge off or repo, 7.5 years from DOFD (Date Of First Delinquency). Collections and charge offs are generally measured from the date it went 120 days late.

IIRC, BK7 is 10 years from discharge and BK13 is 7 years from filing.

Re: Drop Off Date (7 years from when??)

Tuscani — Wed, 09 May 2007 17:46:58 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

Re: Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 17:50:54 GMT

Tuscani wrote:
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

According to this link, the clock starts ticking for all BKs on the filing date. What is the significance of the discharge date?

Re: Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 22:07:24 GMT

according to this, the 'delinquency date' begins on the date of the initial missed payment. Where can i find this date on my credit report?

>>Delinquencies (30 – 180 days): Can remain seven years from the date of the initial missed payment.

Collection accounts: Remain seven years from the date of the initial missed payment that led to the collection (the original delinquency date). When a collection account is paid in full, it will be marked "paid collection" on the credit report.

Charged-off accounts: Remain seven years from the date of the initial missed payment that led to the charge off (the original delinquency date), even if payments are later made on the charged-off account.

Re: Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 22:13:42 GMT

sely wrote:
according to this, the 'delinquency date' begins on the date of the initial missed payment. Where can i find this date on my credit report?

Check out all 3 reports and try to piece it together. Unfortunately, they do not always label it clearly as the DOFD. So figure out the very last date that you made a payment, and never paid again. The next month -- your first 30-day late -- is the DOFD. Note that if you missed a few months, paid one month, and then missed again, you restart the clock.

Sometimes it helps to try to remember what was going on in your life at the time that you started missing payments. Were you in school? Getting divorced? Having medical bills? Lost your job? This might help you pin it down.

Re: Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 22:19:59 GMT

so if an account is in collections...both the original company listing and the collections listing should drop off at the same time-7 years after my first missed payment to the original company, yes? If it does not drop, how can I ever prove that it should?

Re: Drop Off Date (7 years from when??)

Anonymous — Wed, 09 May 2007 22:33:45 GMT

Yes, both should drop off at most 7.5 years after the missed payment to the OC. Otherwise, dispute it as "outdated."

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 01:05:42 GMT

You can always call the CRAs. They store DOFD, but don't report it. However, they will tell you if you call and ask. EQ actually has a spot for it on their paper reports, but it's always been blank on the paper copies I've received.

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 11:28:36 GMT

Interesting you say this, I noticed on my report that the "re-aged" account is showing my history and the first date of delinquency was 2002, however since they re-aged by the JDB they are showing it as current for the past year???? I've disputed but I never get anywhere but frivolous!!!!

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 12:00:36 GMT

along those same lines. the following is noted in the "comment" field but the first missed payment was in 2002:

Charged-off Derogatory. Occurred in 11/2006.

does anyone know if they can do this?

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 13:41:03 GMT

sely wrote:
along those same lines. the following is noted in the "comment" field but the first missed payment was in 2002:

Charged-off Derogatory. Occurred in 11/2006.
does anyone know if they can do this?

Provided you missed a payment in 2002 and never made another payment, your DOFD is in 2002. It doesn't matter when they charged it off; the TL should drop off in 2009ish. If it doesn't, then dispute it as outdated.

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 14:09:50 GMT

but if someone is checking my credit and they look beyond the score...will this comment hurt me further? if so, do i have any grounds for disputing it?

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 18:32:07 GMT

Yes, you absolutely have grounds to dispute it. If the DOLA, DOFD, or both is from 2002, and they are reporting 2006, they by all means dispute it as inaccurate. If they don't correct it, you have grounds for a lawsuit.

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 21:16:20 GMT

Good to know. Thank you.

Re: Drop Off Date (7 years from when??)

Anonymous — Thu, 10 May 2007 22:43:37 GMT

i see what they've done now.

'someone' has reported that i made a payment in october 2006...this is not true. they've obviously done this to substatiate the "derogatory. occured 11/06" statement. this seems to be a more serious issue than just removing the comment.

comments?

Re: Drop Off Date (7 years from when??)

Tuscani — Thu, 10 May 2007 23:05:38 GMT

sely wrote:
i see what they've done now.

'someone' has reported that i made a payment in october 2006...this is not true. they've obviously done this to substatiate the "derogatory. occured 11/06" statement. this seems to be a more serious issue than just removing the comment.

comments?

This is illegal re-aging. You should dispute ASAP. I would consult a local consumer rights lawyer if they do not remove.

Re: Drop Off Date (7 years from when??)

Anonymous — Fri, 11 May 2007 03:32:14 GMT

sely,

By chance do you have a paper copy of your CRs from before this little shenanigan and after the supposed payment? If so, it's gold.

Sidebar: This is why it's important to periodically pull your CRs from all three CRAs. Annual is fine, but quarterly is better, monthly is best, and daily if you're analretentive like me.

Call the CRAs that are reporting this TL and ask them about the DOFD on this TL. Don't press for anything else, no talk of lawsuits or the erroneous late payments, et al. Just get the DOFD, say thank you, and say good bye.

Re: Drop Off Date (7 years from when??)

Eric958 — Sun, 13 May 2007 03:58:23 GMT

Hey Noah, I'm in the same boat except I have a hard copy of the CR from EX before they re-aged! what would be my best course of action? Thanks E!

Re: Drop Off Date (7 years from when??)

Tuscani — Sun, 13 May 2007 13:28:41 GMT

Eric958 wrote:
Hey Noah, I'm in the same boat except I have a hard copy of the CR from EX before they re-aged! what would be my best course of action? Thanks E!

Contact EX and tell them your situtation. Also inform them you have proof from an old CR that the account has been illegally reaged.