Checksystems DOFD ?

[Anonymous]

When you get reported to Chexsystems does the five years start with the first date of deliquincy like with the CB's ?

[Anonymous]

No.  The 5 years starts from the date it was reported to them.

[RobertEG]

It depends on the type of adverse item, not upon who reports it.

There are no five year periods under the FCRA for exclusion of adverse items.

DOFD would only apply if the adverse item were a charge-off or collection.

If the reporting is of a monthly delinquency, the exclusion date is 7 years from the date of the account delinquency.

If a charge-off or collection, it is 7 yrs plus 180 days from the DOFD on the OC account.

The only 5 yr exclusion period I am aware of is for NY state residents, which pertains to paid collections or charge-offs.

What is the adverse item being reported?

[Anonymous]

Chexsystems is a CRA, governed by the FCRA.  However, the information only stays 5 years from the date reported by the bank.