topic Re: Confused with Dates - Simple question in Rebuilding Your Credit

Confused with Dates - Simple question

Anonymous — Sat, 27 Mar 2010 06:42:41 GMT

If looked and searched for other messages and none quite got the exact question right for me.

I have a Item that looks like this:

Status as of : Dec 2009

Date Opened Apr 2006

DOLA - May 2003

Not sure exactly how the Date opened can be later then the DOLA unless the Date Opened is when the CA made note of it on my report. Anyway my question is does the 7 yr rule go by the DOLA or the Date Opened? In this example one can wait 2 or so months to disappear or one that I still have 4 years till it expires.

Re: Confused with Dates - Simple question

RobertEG — Sat, 27 Mar 2010 07:00:24 GMT

Date opened of either a CO or Ca , DOLA, and current status date have NOTHING TO do witth credit SCORING.

What is the date of first defautl with the original creditor that preceded any CO or CA?

Lay out your OC account records for us, Then we can help.

Re: Confused with Dates - Simple question

RobertEG — Sat, 27 Mar 2010 07:10:04 GMT

The "7 year rule" runs from account delinquency dates on payments due. . It has absolutely nothing, zero, to do with account opening.closiing dates, closing dates, or subsequent account activity.

didnRe: Confused with Dates - Simple question

Anonymous — Sat, 27 Mar 2010 07:54:00 GMT

I didnt order my report through equfax so it looks like im going to have to call themto get the DOFD.

Re: Confused with Dates - Simple question

LIGHTNIN — Sat, 27 Mar 2010 12:57:50 GMT

Status as of : Dec 2009......This date is the last time the CA reported to the CRA.

Date Opened Apr 2006.......The date the CA received the debt from the OC or another CA

DOLA - May 2003......Date of last activity is date of last payment.

The FCRA 605 says the 7 1/2 begins on the date of delinquency which immediately preceded the collection activity.

TU and EX use the DOFD as a starting point, for the 7 1/2 yrs drop off date.

EQ uses the DOLA as the starting point.

You could call EQ, as long as you have a current CR with the 10digit confirmation number,

to get the information you wanted.

Re: Confused with Dates - Simple question

Anonymous — Sat, 27 Mar 2010 16:09:43 GMT

If you pull your free reports from annualcreditreport.com Experian and Transunion will have the drop off dates. The Equifax report will show the actual DOFD.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

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Re: Confused with Dates - Simple question

RobertEG — Sun, 28 Mar 2010 08:13:27 GMT

All of the dates you post are pretty much meaningless when it comes to deterining the drop off of a CA or a CO from your CR.

Congress debated this controversy to death back in 1998, with the result of their passage of a revision to the FCRA, now enacted as FCRA 605(c).

It all boils down to one simple date. It eliminated all of the prior controversary about CA reporting dates, any date of last activity on any account, date anything was paid, dates accounts were opened or closed, etc.

It is simple. Push all CA records to the side. Ignore them, in any form.

Go back only to your records on the original creditor account.

Find the last chain of monthly delinquencies on the OC account, then identify the first delinquency in that chain (usually a 30-day late on OC delinquenccy). That is your DOFD, and the one and only date-certain that governs removal of a CO or CA from your CR.

There is absolutely NOTHING a CA can do to alter this date. Period.

EQ cannot use DOLA for this determination. That woould be a clear violation of FCRA 605(c).

You dont have to order your DOFD date from anyone if you have adequate OC account records. That is your legal proof of actual DOFD. What is reported in many CRs is often inaccurate speculatiion of legal DOFD. I would not pay much attention to what they speculate/project if your OC account records establish otherwise.