New and have a question...

[Anonymous]

does anyone know of a link to a list of reporting dates for ccc's?

[Anonymous]

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dog wrote:

does anyone know of a link to a list of reporting dates for ccc's?

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It would be different for every single CC account. You and I might both have a Cap 1 CC, but your CC card reports around the 15th and mine reports around the 25th. You can call your CCC and get them to change the statement closing date. They might let you set the payment due date and then reverse calculate the statement closing date.

[Anonymous]

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@Anonymous wrote:

does anyone know of a link to a list of reporting dates for ccc's?

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The reporting date for most CCCs is on your statement closing date (or within 2 days). HSBC reports on the last day of each month.

Each CRA processes CCC reports at a different speed (EX seems fastest, TU seems slowest), so there is often a 1-3 day delay before an update is posted on your CRs. HSBC updates are much slower, posting 7-16 days (sometimes longer) after the reporting date.

[Anonymous]

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Noah_Bodie wrote:

Call the CRAs and find out the DOFD, Date Of First Delinquency. Can you take a guess? It would likely be the date the account went 120 days late.

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Isn't it the date the account went 30 days late (and no payment was ever made again)?

Accounts normally go to collection after 120 days.

[Anonymous]

I've heard it was 180 days since the first delinquency.

[Anonymous]

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masdeocho wrote:

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Noah_Bodie wrote:

Call the CRAs and find out the DOFD, Date Of First Delinquency. Can you take a guess? It would likely be the date the account went 120 days late.

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Isn't it the date the account went 30 days late (and no payment was ever made again)?

Accounts normally go to collection after 120 days.

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Yes, at 120 days they go to collections. That's also normally the DOFD reported to the CRAs, at least that's what it's supposed to be.

There have been a number of very well researched discussions and arguments over on CIC about DOFD. I believe there's an FTC staff letter on the subject. If you follow the breadcrumb trail, you are led down the path to concluding DOFD is when an account goes 120 days late, and it can be reported for 7.5 years from the DOFD.

DOFD is sometimes also referred to as the DOFMD (Date Of First Major Delinquency) and even DOFMCD (Date Of First Major Continuous Delinquency). I believe Tuscani recent posted on the fact that if you went delinquent, say 90 days late, then paid it current but later went into default again (30, 60, 90, 120, collections, chargeoff, etc), then that first 90 day late (after which you paid current) would NOT be your DOFD. DOFD would be the date when you went 120 days late--or your LDOCMD (Latest Date Of Continuous Major Delinquency).

[Tuscani]

Correct.. there is one exception to the DOFD if you ever bought the account current.

The date which controls the seven year reporting interval is techically called DOFCD - date of first

continuous delinquency after which the account was never again current while it was open and

usable. 

Example:

First 30 day late was January 1999, then the acct was current for 4 yrs. The acct went delinquent again in Jan 2003 and was never current again. The date which matters is Jan 2001. The January 1999 late should have aged off from your credit report after January 2006. Even prior to when that (1/2006) aged off, it was no longer controlling the TL's seven years because the account had been paid up sufficiently to become current again after that point.

For a charged-off account, the window maximum is 180 days (which represents the time period

up to the latest date by which it had to be charged off if still in default) plus seven years. However, in practice just a flat seven years is when the CRA's age it off; they don't normally hold out for that extra half year.