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Experian consumer report indicates negative credit information will be removed 6 years after DOFD

boelshine
New Member

Experian consumer report indicates negative credit information will be removed 6 years after DOFD

I had several credit card accounts that went into default back in December 2015/January 2016 and some were charged off in 2016/2017. I never made further payments on these accounts due to financial and personal hardship.

 

I just ordered my Experian consumer report and it indicates that the accounts will be removed in September, October, November and December of 2022. This includes collection accounts as well. I know that under the law, credit reporting agencies have 7.5 years after DOFD to remove negative/never paid accounts from a consumer's report, but typically credit reporting agencies will remove them after just 7 years. However, in my case they are removing them BEFORE the actual FCRA compliance date/experation of the 7-year clock.

 

I was expecting to see the DOFD on my Experian consumer report, but the report only shows when the negative accounts are scheduled to be deleted. Should I follow up with Experian and ask for the actual DOFDs, so I have a record of this for my own legal/recordkeeping purposes? Or could that potentially cause them to recalculate the FCRA complaince date and potentially keep the information on my record longer?

 

One final question: Should I expect my credit score to substantially increase once this information is no longer reportable and will the same banks lend to me again even if I have an unpaid debt with them that they may or may not have reported to collections? I am already starting to have much better success with applying for credit cards this year, even with 5 charged off accounts that are 6+ years delinquent.

 

Thank you in advance for your assistance in this matter

Message 1 of 7
6 REPLIES 6
FireMedic1
Super Contributor

Re: Experian consumer report indicates negative credit information will be removed 6 years after DOF

You can actually ask for early exclusion 3 months early. Call EX, ask for a supervisor, and ask for EE. Tell them your not disputing, Just would like EE. Once all baddies are gone. Big score boost. CO's rank under a BK. Good Luck!






Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 2 of 7
boelshine
New Member

Re: Experian consumer report indicates negative credit information will be removed 6 years after DOF

Would I want to wait until all of the accounts are within 6 months? Or could I request the EE after the first one is 6 months from deletion? 

Message 3 of 7
tnhomestead
Regular Contributor

Re: Experian consumer report indicates negative credit information will be removed 6 years after DOF

I thought TransUnion was 6 months, Experian was 3 and Equifax possibly 1.

Message 4 of 7
OmarGB9
Community Leader
Super Contributor

Re: Experian consumer report indicates negative credit information will be removed 6 years after DOF


@tnhomestead wrote:

I thought TransUnion was 6 months, Experian was 3 and Equifax possibly 1.


Correct, though in some cases EX has been granting EE as early as 6 months, but it's YMMV.

 

OP, as far as your previous creditors letting you back in, it's highly unlikely if they were never made whole. The derogatory accounts may be falling off your reports, but the lenders themselves still have their own internal records they can reference, so if your account was closed due to a charge off and they were never paid back, it'll be tough to get another account with them. The only possible exception is Capital One, they tend to be a little more forgiving, even when not paid back.


Last App: 12/27/2021
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Message 5 of 7
805orbust
Established Contributor

Re: Experian consumer report indicates negative credit information will be removed 6 years after DOF

Huge jump in scores once they fall off. 



Message 6 of 7
OmarGB9
Community Leader
Super Contributor

Re: Experian consumer report indicates negative credit information will be removed 6 years after DOF


@805orbust wrote:

Huge jump in scores once they fall off. 


Probably, but there's no guarantees.


Last App: 12/27/2021
Penfed Power Cash Rewards Visa Signature

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 7 of 7
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