topic Re: Date of First Delinquency - GMAC in Rebuilding Your Credit

Date of First Delinquency - GMAC

TrueGeminiNC — Thu, 17 Apr 2014 12:45:11 GMT

All,

I am really having trouble with GMAC and Equifax. I have continued to dispute this account directly with GMAC and Equifax with no satisfactory resolution. Notably, this account has been removed from both my Experian and TransUnion reports. During the most recent attempt, the DoFD was changed from 12/2008 to 07/2008. This change resulted in a +20 FICO increase (ScoreWatch). Notably, I want to be assured that this account is removed/suppressed from my Equifax credit report when it should be.

From the information that I gathered via the boards, the 7 year period is calculated from the DoFD. Equifax also provides the following definition on their website--"...calculated from the date the first delinquency occured leading up to the current status."

From the account history, the account was charged of 12/2008. Though I made payments from 04/2007 - 07/2008, they were all either 30/60 or 90 days late. This can be seen in the account history section.

Will someone please help. Am I missing something? Should the DoFD be 04/2007 considering all of the payments were late up to the charge off date of 12/2008? Or does it really matter consdering Equifax may use some other internal metric that I can't see which will result in the account being removed soon.

Indubitably, I have exhausted all of my options and am not quite sure how to proceeed.

http://i1319.photobucket.com/albums/t662/holmes60606/Myfico/Equifax_zpsc8288e1e.jpg

Re: Date of First Delinquency - GMAC

Ragelog — Thu, 17 Apr 2014 15:58:07 GMT

Pretty sure it's the DOFD that you didn't pay again. So DOFD under my understanding would be after your last payment. So 7/2008 seems right.

Re: Date of First Delinquency - GMAC

TrueGeminiNC — Thu, 17 Apr 2014 16:25:04 GMT

@Ragelog wrote:
Pretty sure it's the DOFD that you didn't pay again. So DOFD under my understanding would be after your last payment. So 7/2008 seems right.

Thanks for the response. It just seems unreal that Experian and TransUnion would delete the account in 04/2014 while Equifax plans to report the information until 07/2015. Also, from the definition provided on Equifax's website; it suggests--* For delinquent accounts and accounts included in bankruptcy, the DLA contains the date the first delinquency occurred leading to the Status being reported on the account."

So in my mind, I was thinking the 1st delinquency first occured in 04/2007 which lead to the current reported status of "Charge Off" on 12/2008. Although I was making payments from 04/2007 - 07/2008, they were all 30-90 days late.

Does anyone know how I can confirm what date should be used? It is useless contacting Equifax. Their response is always, we can initiate a dispute on your behalf.

Re: Date of First Delinquency - GMAC

RobertEG — Thu, 17 Apr 2014 17:58:33 GMT

Neither the dates payments were made nor the date of the charge-off determines the DOFD.

DOFD is the date you first became delinquent on the account. That DOFD remains in effect unless or until the account is paid back into good standing.

If payments were made but the full delinquecy was not satisfied, the DOFD remains.

The DOFD must precede the date they did the charge-off, so could not under any conditions be later than 12/2008.

It appears that you were first delinquent in 4/2007 and made various payments thereafter.

The simple fact that those payments were late does not necessarily mean they did not reset the DOFD.

The issue is whether, when ay payment was made, was its amount sufficient to cover the full amount of delinquency at that time.

If any payment brought the account back into good-standing prior to the date of the CO, yes, it would reset the DOFD.

However, if the account remained in arrears even though partial payment was made, it would not reset the DOFD.

Re: Date of First Delinquency - GMAC

TrueGeminiNC — Thu, 17 Apr 2014 18:22:56 GMT

@RobertEG wrote:
Neither the dates payments were made nor the date of the charge-off determines the DOFD.

DOFD is the date you first became delinquent on the account. That DOFD remains in effect unless or until the account is paid back into good standing.
If payments were made but the full delinquecy was not satisfied, the DOFD remains.
The DOFD must precede the date they did the charge-off, so could not under any conditions be later than 12/2008.

It appears that you were first delinquent in 4/2007 and made various payments thereafter.
The simple fact that those payments were late does not necessarily mean they did not reset the DOFD.
The issue is whether, when ay payment was made, was its amount sufficient to cover the full amount of delinquency at that time.
If any payment brought the account back into good-standing prior to the date of the CO, yes, it would reset the DOFD.
However, if the account remained in arrears even though partial payment was made, it would not reset the DOFD.

Thanks for the info. With each payment, the account did remain in arrears from 04/2007 - 07/2008. Conversely, what avenue should I pursue if neither GMAC or Equifax will correct the information?

Re: Date of First Delinquency - GMAC

RobertEG — Thu, 17 Apr 2014 18:34:39 GMT

If you have clear factual showig of reporting of incorrect DOFD, you could send a formal complaint to th CFPB.

The CFPB can intervene if the issue is one of their incorrect application of the statute.

Just make sure your facts are solid, as they are unlikely to become involved if the facts require interpretation.

Absent administrative review of clear violation of the FCRA, next resort would be to bring your own civil action, and get revew of both the interpretation of the facts and compliance with the law

Re: Date of First Delinquency - GMAC

TrueGeminiNC — Wed, 23 Apr 2014 02:55:19 GMT

@RobertEG wrote:
If you have clear factual showig of reporting of incorrect DOFD, you could send a formal complaint to th CFPB.
The CFPB can intervene if the issue is one of their incorrect application of the statute.
Just make sure your facts are solid, as they are unlikely to become involved if the facts require interpretation.

Absent administrative review of clear violation of the FCRA, next resort would be to bring your own civil action, and get revew of both the interpretation of the facts and compliance with the law

Thanks. GMAC provided me a copy of my payment history. I also have a seperate letter from GMAC acknowledging the late information reported to the credit bureau. Unfortunately, no success with either CFPB, Equifax or GMAC.

I have since contacted 2 attorneys. One has suggested that he will charge a $200 retainer fee to review all of the documents and for a basic update process.

Has anyone ever dealt with an attorney for a credit reporting error? if so, what can an attorney do that I can't do on my own? Is it worth the $200?

Thanks.

Re: Date of First Delinquency - GMAC

RobertEG — Wed, 23 Apr 2014 03:04:07 GMT

If there is still confusion as to the legal definition of DOFD under the FCRA, or if you are unsure whether your facts prove the DOFD, then by all means get legal opinion.

Re: Date of First Delinquency - GMAC

Shogun — Wed, 23 Apr 2014 03:09:37 GMT

I am assuming this is a consumer finance attorney?

Re: Date of First Delinquency - GMAC

TrueGeminiNC — Wed, 23 Apr 2014 03:17:05 GMT

@Shogun wrote:
I am assuming this is a consumer finance attorney?

Yes. The law office is a Consumer Protection/Bankruptcy firm. Below is an exerpt from the firms website. They have agreed to offer a free consultation and thereafter a fee of $200 for a basic update process. Notably, I am trying to understand if it is worth the $200 after no success with GMAC, Equifax or the Consumer Finance Protection Bureau. I would hate to pay $200 for the attorney to simply do eveyrthing that I have done thus far.

Inaccurate Reporting To Credit Reporting Agencies

Your credit report is your lifeline to a mortgage, a car payment, student loans and other types of debt we may need in our modern times. An inaccurate report or creditor misrepresentation that leads to a poor credit rating can mean a lost opportunity for you and your family. If you have had a loan denied based on your credit report, it pays to inquire into the nature of the denial. If there is an inaccuracy reflected on the report, or a failure to give full information you requested to be placed on your report, you may be entitled to seek financial compensation from the liable creditor.

Re: Date of First Delinquency - GMAC

TrueGeminiNC — Mon, 05 May 2014 03:17:23 GMT

***update***

I received a response from the CFPB. No luck.

Conversely, i spoke with a consumer protection attorney last week who suggested that she needs to review some case law prior to determinining how we should proceed. We determined that the date of 07/2008 reflects the last payment made to GMAC. Equifax/GMAC is using this date as both the Date of Last Activity and Date of First Delinquency.

Additionally, I have documentation from GMAC which suggests that though payments where made between 04/2007 - 07/2008; all payments where +30 days or more late.

Re: Date of First Delinquency - GMAC

madmann26 — Tue, 06 May 2014 10:42:43 GMT

You have to ask yourself,

"When I made the payments prior to 4/2008, did any of the payments EVER bring the account current?"

If one payment did, then the DoFD could be reset. If not, or if you paid payments but were always 30-60-90 days behind, then the DoFD would be the date of the first deliquency that led to a CO status.

Basically what Robert said but without all the legal jumbo.