DOFD Question

[Anonymous]

On the DOFD thread it states

In a State that accrues (starts) its Legal SOL from the "cause of action date" then the first missed or delinquent date THAT WAS NEVER CAUGHT UP, prior to the charge off date is the starting date, or DOFD, which was the first date that the creditor could have filed suit, i.e. cause of action.

This date is the SAME date as the start of the 7 year reporting period in the FCRA and creditors are mandated to report that DOFD to the CRA's (You should call the CRA to get an accurate DOFD on a TL).

In some states, the "accrual date of the cause of action" is the last item of payment or purchase on a mutual, open and current account. These states are called "last item states" and in some like CA and VA and TX the accrual date can be argued to be a much earlier date than the DOFD if the creditor has stopped charging privileges and/or reduced the credit line to below what was owed.

Where would you find the information to know if you live in a state that starts its Legal SOL from the "cause of action date"?

A friend had an old CC that went deliquent, few years later started making small monthly payments to the CA and then couldn't make any for awhile. Am wondering if this changed DOFD since it was NEVER caught up.

The way I understand it, even when she was making payments, they could have still filed suit at any time since she was still deliquent, but I dunno.

[Anonymous]

I think that you are asking  2 things     you might be confusing CRTP with SOL

CRTP     DOFD  DOLA  are both set by the OC 

When an account,let say a CC, is open but you are behind in payments......you make payments but NEVER become current......DOFD  stays the same.

Once any account is CO  and closed (CO usually comes first)   No amount of payment can change DOFD     BUT    SOL is different

Most states go by DOLA     any payment at any time will re start SOL   NOT  DOFD

At NO time can a CA change the DOFD!!!!!!!   

Tx. is   The SOL begins after the day the cause of action accrues, (Section 16.004 (a) (3)).   they do NOT go by DOLA   so you would use DOFD    IF you were sued you can argue that DOFD  was the cause of action.................................

states that use DOLA   would start with any charge or payment to anyone even after CO.

I hope that this was clearer then mud.

I think that Georgia also is like Tx. DOFD     but with a twist    you can pay but if you don't send a note saying that you owe it  SOL starts & stays with DOFD

Open account; implied promise or undertaking: 4 years, (OCGA 9-3-25). NOTE: Payment, unaccompanied by a writing acknowledging the debt, does not stopped the statute. Therefore, the statutory period runs from the date of default, not the date of last payment.

Florida goes by  DOLA    BUT  try & figure this out......would a CC come under this?

The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.

The best way to know, if you can't find it under your state is to call and ask! Some states have a place to email a question also.