Question about credit reports & duration of items

[minasmom123]

I really screwed myself over a few years ago and didn't pay my student loans. They ended up closing the accounts as a charge off and then re-doing the loans, which I have always paid on time since. I called Equifax because I was curious what dates exactly, they use to determine when an item falls off your credit. See the account below. Their site states collection accounts "Remain on file for seven years from the date of last activity", but since there is no descriptive column labeled "date of last activity" it is kind of vague. I would assume that the last payment date would be the date of last activity, so in the example below, 7/2006 meaning this item would fall off in 7/2013. But their representative told me that this item would not fall off until 7 years from the date reported 6/2009, meaning this item wont come off until 6/2009. He asked me if i had done a dispute in 6/2009 and I said possibly, he said that every time you do a dispute, that date refreshes and it is 7 years from that date...this just seems wrong to me. Can any of you verify from this, when will it fall off??

[cdtotten]

The only date that matters is the Date of First Delinquency (DOFD). This date you will see on your report that you posted. If the account was charged off, 7.5 years from this date, the item will be removed from your report. Individual missed payments will disappear 7 years from the month they were missed.

Disputting the tradeline has 0 effect on the fall off date.

[minasmom123]

Thank you VERY much for the reply That is what I thought, but my heart skipped a beat when he told me it wouldnt fall off until 2016. Sad...their employees don't even know the law.

[llecs]

Ditto to the 2013 removal. CSRs are always wrong when they aren't 100% right.

[RobertEG]

With a reported DOFD of 7/2006, the falloff date for the CA would be after 1/2014.  That is the max statutory fall-off date.  The CRA could, or course, choose to delete at an earlier time.

Just monitor your CR, and if the CA still remains after 1/2014, then the CRA would be in violation of FCRA 605(c).

As an aside, if you really wanted to get pickly about the reported DOFD, the reported date of 7/2006 could very well be incorrect, based on the payment history profile you have provided.  A 60-day late in 7/2006 implies an earlier, 30-day dleinquency prior to that date.   Your DOFD is not the first date a delinquency is reported by the OC, it is the first date of your actual delinquency on the account.  If you have account records to support an actual date of first delinquency prior to 7/2006, then you could dispute the accurancy of the reported DOFD.  It could actually have been several months earlier.