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Collection fall off date?

Morphyyy
New Contributor

Collection fall off date?

Can you trust the estimated fall off dates on your credit reports?

 

i have two collections from 2017 and on my credit reports from MyFICO and Experian it says they will fall off in 2021. Any truth to this?

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thornback
Senior Contributor

Re: Collection fall off date?

Yes, you can trust those dates as they are accurate based on the data provided to the bureaus by the creditor/collection agency.  Drop off dates noted on your reports would only be innacurate if the data provided to them is incorrect - in which case you'd have to have proof of the discrepency to dispute.

 

The drop off is determined by the DOFD of the original debt with the original creditor, not the date the collection account was opened.  So if the original DOFD was 2014, then 2021 for the collection drop off is accurate.

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 4
Morphyyy
New Contributor

Re: Collection fall off date?

Oh I see!!! That's what has me confused is it says account opened 2017 for both but fall off next year but it probably went into debt around 2014 but got reported to my credit report in 2017 is what you're saying?

Message 3 of 4
thornback
Senior Contributor

Re: Collection fall off date?


@Morphyyy wrote:

Oh I see!!! That's what has me confused is it says account opened 2017 for both but fall off next year but it probably went into debt around 2014 but got reported to my credit report in 2017 is what you're saying?


 

Yes.  The original creditor may have held onto the debt for years before transferring / selling to a collection agency.   Sometimes, a debt can be transferred or sold to various collection agencies over the years but the DOFD never changes -- it will always be the date the original debt with the original creditor became delinquent.   So even if the current collection agency were to sell the debt to a new collection agency, and that new one were to report a new collection tradeline with an open date of 4/2020,  the collection would still drop off in 2021 because the DOFD of the original debt is 2014. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
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