Reporting Period Guidelines

[Anonymous]

I have read various interpretations on this subject (when will a collection account drop off the credit file? 7 years or 7.5 years). I’m more confused than ever. I want to know when this charge off account will be removed from my credit file.

Original Creditor has confirmed:
- Account opened May 2000.
- Date of first delinquency occurred October 2000.
- Partial payment made November 2000.
- Account charged off April 2001.

CA Reports:
- Account opened 01/03 with DOLA 04/01.

Experian and TransUnion removed 10/07. I disputed with Equifax but they are not budging. They say it has not been 7 years. If I'm wrong, I'm wrong. If it is supposed to be off I would like to know what approach I should use in my next dispute letter.

Thanks in advance!

[fused]

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Davis12906 wrote:
I have read various interpretations on this subject (when will a collection account drop off the credit file? 7 years or 7.5 years). I’m more confused than ever. I want to know when this charge off account will be removed from my credit file.

Original Creditor has confirmed:
- Account opened May 2000.
- Date of first delinquency occurred October 2000.
- Partial payment made November 2000.
- Account charged off April 2001.

CA Reports:
- Account opened 01/03 with DOLA 04/01.

Experian and TransUnion removed 10/07. I disputed with Equifax but they are not budging. They say it has not been 7 years. If I'm wrong, I'm wrong. If it is supposed to be off I would like to know what approach I should use in my next dispute letter.

Thanks in advance!

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Why is the charge-off date and DOFD 11 months apart? Charge-off and DOFD are usually the same. What kind of debt is this?

Collections usually remain for seven years from the DOFD, so it's suppose to fall off April 08. It appears you got lucky with EX and TU. It might stay on EQ until April 08 as this is 7 years from DOFD.

[fused]

Do you happen to live in CA, TX or VA? If so, different rules might apply.

[llecs]

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fused wrote:

Do you happen to live in CA, TX or VA? If so, different rules might apply.

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Fused-

How so in VA?

Message Edited by llecs on 11-19-2007 05:51 PM

[Anonymous]

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@fused wrote:

Do you happen to live in CA, TX or VA? If so, different rules might apply.

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In reponse to both your replies:

10/00 was the first time I failed to make payment and Sprint PCS wrote off the account 04/01 6 months later. The account has been purchased by a CA (don't know when).

...and I live in SC.

Thanks!

[fused]

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@Anonymous wrote:

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@fused wrote:

Do you happen to live in CA, TX or VA? If so, different rules might apply.

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In reponse to both your replies:

10/00 was the first time I failed to make payment and Sprint PCS wrote off the account 04/01 6 months later. The account has been purchased by a CA (don't know when).

...and I live in SC.

Thanks!

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Oct 08 is when this will fall off.

[fused]

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llecs wrote:

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fused wrote:

Do you happen to live in CA, TX or VA? If so, different rules might apply.

---

Fused-

How so in VA?

Message Edited by llecs on 11-19-2007 05:51 PM

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In the words of one of myfico forum's mods Tuscani, "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."

[llecs]

Thanks for the info, Fused.