topic Re: Charge Off's in Rebuilding Your Credit

Charge Off's

tferdaise — Tue, 12 Apr 2022 15:35:58 GMT

So I have a couple of credit card charge-offs, how long can the CC companies keep posting negative items about these charge-offs? It's now been over 2 years. How long before these charge-offs fall off my credit report?

TIA

Re: Charge Off's

dragontears — Tue, 12 Apr 2022 15:40:18 GMT

@tferdaise wrote:
So I have a couple of credit card charge-offs, how long can the CC companies keep posting negative items about these charge-offs? It's now been over 2 years. How long before these charge-offs fall off my credit report?

TIA

The answer is 7 years from DOFD.

As long as the CO is unpaid they can continue to update every month if they choose. They can also assign or sell the account to a collection company and you can have both the OC and the CA on your reports.

Re: Charge Off's

tferdaise — Tue, 12 Apr 2022 15:42:07 GMT

Thank you. 7 yrs from what date?

TIA

Re: Charge Off's

lns1976 — Tue, 12 Apr 2022 15:50:13 GMT

@tferdaise DOFD is "Date of First Default".

Essentially it's the date the bill first went past due with no further payments being made to it.

Re: Charge Off's

donkort — Tue, 12 Apr 2022 15:50:20 GMT

Date when you first didn't pay on time.

"Date of First Delinquency."

It should be on your credit report.

Re: Charge Off's

dragontears — Tue, 12 Apr 2022 15:50:28 GMT

@tferdaise wrote:
Thank you. 7 yrs from what date?

TIA

DOFD = date of first default

By definition, that is the date where the account went delinquent and was never brought current

Re: Charge Off's

tferdaise — Tue, 12 Apr 2022 20:22:54 GMT

Thank you !

@dragontears wrote:
@tferdaise wrote:
Thank you. 7 yrs from what date?

TIA
DOFD = date of first default
By definition, that is the date where the account went delinquent and was never brought current