Derog drop off dates are all different

[laz98]

Okay, another thread got me questioning how some of my drop off dates were calculated.  Can someone help me out please?

For my one CA account, the DOFD is listed as May 2004 on EQ (CSC) only.  However, it doesn't have a drop off date.  My other 2 reports don't list a DOFD, but have drop off dates of February 2011 (EX) & April 2011 (TU).  To be honest, I think the DOFD is listed as earlier than it should be, but hey, I'm not complaining.  I just don't know how they came up with those drop off dates.  These reports are all from the AnnualCreditReport.com site, but I got the paper copies.

My other derog is still with the OC.  My EQ (CSC) lists the DOFD as February 2005 (which I believe is accurate) but has no drop off date.  EX has a drop off date of December 2011 & TU has November 2011.

How did they come up with these numbers?  Maybe I just can't do the math, which is probably a very good possibility.  While I should just be happy that they are ALL finally coming off next year, I would like to know if I will actually have to wait the whole year or not.

[laz98]

no guesses?

[RobertEG]

Drop off dates are merely projections based on reported dates of delinquency. Projected dates are not always given in your CR, as each separate delinquency has its own calculated fall off date.

You can easily determine the statutory drop off date once you know the actual date of each delinquency

List the date of each reported delinquency on the OC account.  If it is a monthly delinquency, the drop off date is after 7 years the date of delinquency.

If a charge-off or collection appears in your CR, then go back to the OC account.  Find the first delinquency reported by the OC (usually a 30-day late) which, thereafter the account was not brought into paid, good-standing before the CO or CA was made.  This is your DOFD.  The CO or CA can remain for up to 7 1/2 years from that DOFD. 

Thus, you usually have multiple fall off dates.  Monthly OC account derogs after 7 years from their individual dates of delinquency, and any CO or CA after 7 1/2 years the same, date-certain, which is your DOFD.

Once you know how to calculate drop off dates, I would ignore CRA "projections."  If any derog remains in your CR after the statutory date that you have calculated, then you file a dispute with the CRA under FCRA 605(a).

[laz98]

thank you for your response, robert.

my question was really that their projections are EARLIER than what i had (perhaps incorrectly) calculated as the drop off dates.  i was trying to see if anyone could explain or speculate as to how they came up with their projected dates.

[RobertEG]

Most of the time, when a CR reports a projected "drop-off date," it is with regard to a charge-off or collection in a consumer's CR.

While congress attempted to eliminatate this ambiguity back in 1998 by enactment of FCCRA 605(c). they did a crappy job.

They did two uncertain things. 
They never clearly defined, and then used the term DOFD as the date certain.,  and they went on to  turn this one single, date certain, that the statute was trying to clarify  into a date that few understood.  They included this legal hogwash as the date of the 7 year expiration of further reporting of a CO or CA, from a date they had not even nailed down and then added a nebulous 180-day extension.:

        "upon expiratiion of the 180 period beginning on the the date of commencement of the delinquency which immedately preceded the collection activity. charge-off

           to profit and loss, or similar action."    (FCRA 605(c)(1).)

.

The FTC has issued many opinion memorandum statting that this convuluted congressional languge is, in fact, simply the DOFD.  And how to calculate a progjected drop off date with stupid 180-day extenstion peroid is at the discretion of anyone to infer congressional intent.

If statutory disarray on interrperation of a still-vague statue still exists,then disarray on the reproting of different projected drop off dates is not surprising.

[Anonymous]

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@RobertEG wrote:

Most of the time, when a CR reports a projected "drop-off date," it is with regard to a charge-off or collection in a consumer's CR.

While congress attempted to eliminatate this ambiguity back in 1998 by enactment of FCCRA 605(c). they did a crappy job.

They did two uncertain things. 
They never clearly defined, and then used the term DOFD as the date certain.,  and they went on to  turn this one single, date certain, that the statute was trying to clarify  into a date that few understood.  They included this legal hogwash as the date of the 7 year expiration of further reporting of a CO or CA, from a date they had not even nailed down and then added a nebulous 180-day extension.:

        "upon expiratiion of the 180 period beginning on the the date of commencement of the delinquency which immedately preceded the collection activity. charge-off

           to profit and loss, or similar action."    (FCRA 605(c)(1).)

.

The FTC has issued many opinion memorandum statting that this convuluted congressional languge is, in fact, simply the DOFD.  And how to calculate a progjected drop off date with stupid 180-day extenstion peroid is at the discretion of anyone to infer congressional intent.

If statutory disarray on interrperation of a still-vague statue still exists,then disarray on the reproting of different projected drop off dates is not surprising.

---

Congress did a very good job.  Those that are doing the crappy job are those who try to analze that which they only pretend to have the ability to analyze. 

The dates that CRAs show as projected drop-off dates are based on their internal records and their understanding of the meaning of the FCRA.  Creditors are required by law to submit dates of the delinquency which immediately preceded the collection or chargeoff within 90 days of said action.  There are exceptions and these exceptions are handled, as well, in the FCRA.  The projected drop-off date may well be under 7.5 years because there may have been less than a 180 day period between delinquency and chargeoff or referral to collections -- or other conditions.

[Lel]

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