topic Re: Judgment and DOFD in Rebuilding Your Credit

Judgment and DOFD

indiolatino61 — Wed, 03 Apr 2013 02:53:18 GMT

Hello all...when there is a judgment on your CR, say filed 08/2006, does the 7-year limit start on the day the judgment is filed in court or the DOFD? Since the DOFD has to be far earlier than the judgment, can a letter for removal based on that reason be sent? Thank you.

Re: Judgment and DOFD

RobertEG — Wed, 03 Apr 2013 03:08:56 GMT

DOFD has one and only one purpose in credit reporting.

It sets the period for calculation of the date for ultimate exclusion of either a collection or charge-off.

It is irrelevant to the exclusion of any other adverse intormation, such as a judgment.

FCRA 605(a) explicity sets the 7 year exclusion period for a judgment as running from the date the judgment was entered.

Re: Judgment and DOFD

indiolatino61 — Wed, 03 Apr 2013 03:17:52 GMT

@RobertEG wrote:
DOFD has one and only one purpose in credit reporting.
It sets the period for calculation of the date for ultimate exclusion of either a collection or charge-off.
It is irrelevant to the exclusion of any other adverse intormation, such as a judgment.
FCRA 605(a) explicity sets the 7 year exclusion period for a judgment as running from the date the judgment was entered.

Thank you for the prompt response.