What constitutes DOFD?

[Anonymous]

I have a question that's probably more on technicality than anything, but I'd still like to find an answer if anyone knows...

I had a vehicle reposession in June 2002. It was a pretty long battle of playing catch-up on the payments while I was going to school and finally decided to forfeit the vehicle. Here's what happened:

August of 2001 I had my first late payment (30 days late). I caught this payment up in 2 months and was current. I missed another 1-2 payments (60 days late) in early 2002 and caught them up one more time. As I continued to struggle financially I went 60 days late again and decided to surrender the car. Is August 2001 my DOFD or is the time of repossession the DOFD? The OC is reporting June 2002 (repo date), which in turn keeps the repo on my credit report for an additional 10 months past the first 30 day late (August 2001).

Thanks for the help,

Mike

[Anonymous]

Also, I've sent a GW and request for PFD to the OC and they will not do either. They simply say "we don't modify or delete tradelines." The creditor was Citi Financial Auto. :\

[Anonymous]

DOFD in your case is the first late AFTER you brought the account current later in 2002.

It is defined as the first late after which the account never became current again.

It's not Aug 2001, since you brought the account current afterwards.

Message Edited by cheddar on 03-30-2008 11:03 AM

[Anonymous]

DOFD is the date of your first missed payment that led to the repossesion that was NEVER caught up.

It will remove 7-7.5 years from that date.

[Anonymous]

Good info, thanks guys.