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When Will Account Fall Off My Report

Jazee
Contributor

When Will Account Fall Off My Report

I've obtained my credit report from various sources over the years.  My understanding is that a deliquent charge-off account will be removed from my credit history "seven years after the date of the original delinquency."  How do you determine the "date of original deliquency?"  I recall on service I used actually showed the date it should fall off, which made it easy, wish I could remember which credit report service did that.

 

For now, I'm using annualcreditreport.com as through April 21 you can get free reports even weekly due to COVID.  But these reports don't indicate a "date of original deliquency" nor a date the account should expire and be removed from the report.  The closest thing I think seems to be the "Status Update" date, but it looks like in some cases, that's not a reliable date as it can be just a balance update date, and not the date of original deliquency.  So here's some examples, would appreciate it if anyone can help me confirm what would be considered the "date of original deliquency" for determining when it will fall off the report.

 

1. Charge off, 30-day late first reported May 2017, no payment history after Jan 2018 until Jan 2019 there was a status/balance updated and showing a N on the payment history reported for Jan 2019 (but nothing from Feb 2018 through Dec 2018).

 

2. Charge off, 30-day late first reported May 2014 and N payment status through Jul 2015, no payment status after that, status updated Jun 2014, Balance updated Jul 2015.

 

 

Message 1 of 8
7 REPLIES 7
LaHossBoss
Valued Contributor

Re: When Will Account Fall Off My Report


@Jazee wrote:

I've obtained my credit report from various sources over the years.  My understanding is that a deliquent charge-off account will be removed from my credit history "seven years after the date of the original delinquency."  How do you determine the "date of original deliquency?"  I recall on service I used actually showed the date it should fall off, which made it easy, wish I could remember which credit report service did that.

 

For now, I'm using annualcreditreport.com as through April 21 you can get free reports even weekly due to COVID.  But these reports don't indicate a "date of original deliquency" nor a date the account should expire and be removed from the report.  The closest thing I think seems to be the "Status Update" date, but it looks like in some cases, that's not a reliable date as it can be just a balance update date, and not the date of original deliquency.  So here's some examples, would appreciate it if anyone can help me confirm what would be considered the "date of original deliquency" for determining when it will fall off the report.

 

1. Charge off, 30-day late first reported May 2017, no payment history after Jan 2018 until Jan 2019 there was a status/balance updated and showing a N on the payment history reported for Jan 2019 (but nothing from Feb 2018 through Dec 2018).

 

2. Charge off, 30-day late first reported May 2014 and N payment status through Jul 2015, no payment status after that, status updated Jun 2014, Balance updated Jul 2015.

 

 


Annual credit report is the service that gives reports with actual drop off date.

 

TU should list "estimated date of removal"

 

EQ should list "date of first delinquency". Add 7 years to that date and that is when it should age off. This is also what should be your actual DoFD to base any age off date from

 

EX lists "on record until". This one can be tricky and many think it is wrong because it is usually earlier than the other 2 bureaus amd that is because they build in 2 months of EE (early exclusion) into that date. Meaning the date is not wrong and the other bureaus are not wrong. The date is generally 6 years and 10 months from DoFD.

 

I am not understanding exactly how you do not have a date for removal? What was the status of the account? If it was considered a "good" or "positive" account then it will not age off at 7 years just because you have a 30d late. You say it is a CO, so they should have removal dates for all 3 bureaus.

 

Are you able to screenshot all 3 entries (for all 3 bureaus), block out any personal info, and post them? I am a little confused on what you are describing.

 

Good luck!




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 4•21 | EQ [F8 651] [F9 645] [EQ5 678] [VS3 630] | TU [F8 716] [F9 684] [TU4 721] [VS3 639] | EX [F8 640] [F9 651] [EX2 655] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 3•21 | EQ [F8 619] [F9 659] [EQ5 657] [VS3 644] | TU [F8 664] [F9 659] [TU4 644] [VS3 671] [VS4 658] | EX [F8 650] [F9 664] [EX2 640] [VS3 602]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 2 of 8
RobertEG
Legendary Contributor

Re: When Will Account Fall Off My Report

FCRA 605(c) mandates that collections and charge-offs must be excluded from your credit report no later than 7 years plus 180 days from the date of first delinquency that immediately preceded the reported charge-off or collection.  Thus, credit report exclusion is based solely upon the date of first delinquency.  

While the FCRA sets a max period of 7 years plus 180 days, the CRAs choose to exclude a bit earlier, which is normally at approx 7 years from DOFD.   There is a slight variance amongst the big-3 CRAs, but 7 years from DOFD is the normal and expected exclusion date.

 

Since DOFD is the key for exclusion of a CO, the FCRA also mandates that once a creditor has reported a CO, they must, within 90 days of that first reporting, provide the CRA with the actual DOFD.  See FCRA 623(a)(5).  While the explicitly reported DOFD is thus required to be in the consumer's credit file, most commercial credit reports choose not to include that info in their reports, and substitute and estimated excllusion date that they have calculated based on the reported DOFD plus approx 7 years.

 

You can normally obtain the actual, reported DOFD from annualcreditreport.com.

 

You cannot, for several reasons, rely solely upon the payment history profile to determine the DOFD.  That is why the FCRA explicitly rquires separate reporting of the DOFD whenever a CO or collection is reported.

While a reported 30-late will provide a good estimate, it does not always reflect the DOFD.  Many creditors, for example, will not report a 30-late for several months after actual occurence of initial delinquency, and some will even wait until a higher level of delinquency, such as 60 or 90-late, has occured, while others will wait until charge-off to report delinquencies to the payment history profile.

Message 3 of 8
Jazee
Contributor

Re: When Will Account Fall Off My Report

Thank you for the information.  The credit reports I had run for the 3 agencies were through MyExperian.  None of the reports from there show a date of first delinquency or estimated month and year the account will be removed.

 

I did recall I also used annualcreditreport.com and since they are doing free weekly's during COVID I ran it again.  The Equifax report doesn't give you the estimated day and month it will be removed.  But it does give DOFD.   However on one account, there is no payment history except a Charge Off showing Mar 2014.  There is no DOFD reported.  I supposed I just way until after March 2021 to see if it's gone.

 

The TU report from annualcreditreport.com DOES give you the estimated year and month the account will be removed.  

Experian would run the report annualcreditreport.com said today Experian is having issues running the report and to contact them directly.

 

Thanks for the info!

 

Message 4 of 8
Jeffrey_Becker
New Visitor

Re: When Will Account Fall Off My Report

If anyone can help me out with when a First Premier account will be removed from my report if I don't dispute it.  Thanks in advance!

 

Opened: May 2012

DLA: November 2014 / Charged Off / Date of last update on credit report ... until ...

Paid In Full March 2019 (request of lender for home loan)

 

First Premier updated and added to my report with 25 brand new 90 day latest from 2017 to March 2019!  I know if I would have left it alone, it would be dropping off this year.  My question is, did the update in March 2019 reset the 7 years to start all over on March 2019 or will it still drop off based on first reported late or DLA date?

 

I'm considering disputing it as the account is reported different and incorrecly on all 3 reports but I really don't want to risk them doing this again if it's coming off sometime around November 2021.  Thoughts?  Thank you!

 

Message 5 of 8
LaHossBoss
Valued Contributor

Re: When Will Account Fall Off My Report


@Jeffrey_Becker wrote:

If anyone can help me out with when a First Premier account will be removed from my report if I don't dispute it.  Thanks in advance!

 

Opened: May 2012

DLA: November 2014 / Charged Off / Date of last update on credit report ... until ...

Paid In Full March 2019 (request of lender for home loan)

 

First Premier updated and added to my report with 25 brand new 90 day latest from 2017 to March 2019!  I know if I would have left it alone, it would be dropping off this year.  My question is, did the update in March 2019 reset the 7 years to start all over on March 2019 or will it still drop off based on first reported late or DLA date?

 

I'm considering disputing it as the account is reported different and incorrecly on all 3 reports but I really don't want to risk them doing this again if it's coming off sometime around November 2021.  Thoughts?  Thank you!

 


Just like recommended above, you need to pull all 3 credit reports from annual credit report (free to pull weekly tgru 4/2021 - no scores). The guide to the droo off dates is listed above.

 

The dates you gave can vary and none are the DoFD.

 

If you gwt those reports, you will know the fall off dates and when you can request EE from TU and EX.

 




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 4•21 | EQ [F8 651] [F9 645] [EQ5 678] [VS3 630] | TU [F8 716] [F9 684] [TU4 721] [VS3 639] | EX [F8 640] [F9 651] [EX2 655] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 3•21 | EQ [F8 619] [F9 659] [EQ5 657] [VS3 644] | TU [F8 664] [F9 659] [TU4 644] [VS3 671] [VS4 658] | EX [F8 650] [F9 664] [EX2 640] [VS3 602]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 6 of 8
LaHossBoss
Valued Contributor

Re: When Will Account Fall Off My Report


@Jazee wrote:

Thank you for the information.  The credit reports I had run for the 3 agencies were through MyExperian.  None of the reports from there show a date of first delinquency or estimated month and year the account will be removed.

 

I did recall I also used annualcreditreport.com and since they are doing free weekly's during COVID I ran it again.  The Equifax report doesn't give you the estimated day and month it will be removed.  But it does give DOFD.   However on one account, there is no payment history except a Charge Off showing Mar 2014.  There is no DOFD reported.  I supposed I just way until after March 2021 to see if it's gone.

 

The TU report from annualcreditreport.com DOES give you the estimated year and month the account will be removed.  

Experian would run the report annualcreditreport.com said today Experian is having issues running the report and to contact them directly.

 

Thanks for the info!

 


Great!

 

Like I was explaining above, only EQ lists "date of first delinquency". Add 7 years to that date and it should age off the month prior to that.

 

It does not matter if there is a payment history as long as it has a DoFD or a date of removal. If there is no DoFD, then that may be an issue. Is the account status "paid as agreed"? Or something like that making it positive? I have had that happen and the drop off date went away because the account looks positive even though it is negative. I would wait until next mo th to see what happens. If it is still there, I would make a phone call to that bureau and see about having them remove it.

 

Is the "estimated date of removal" within the next 6 months (8/2021 or earlier)? You can request EE (early exclusion) from TU easily if it is or when that time comes. 




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 4•21 | EQ [F8 651] [F9 645] [EQ5 678] [VS3 630] | TU [F8 716] [F9 684] [TU4 721] [VS3 639] | EX [F8 640] [F9 651] [EX2 655] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 3•21 | EQ [F8 619] [F9 659] [EQ5 657] [VS3 644] | TU [F8 664] [F9 659] [TU4 644] [VS3 671] [VS4 658] | EX [F8 650] [F9 664] [EX2 640] [VS3 602]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 7 of 8
Jeffrey_Becker
New Visitor

Re: When Will Account Fall Off My Report

Thanks so much!  I appreciate the reply.  I will pull those and see if I can get an EE on TU and go from there. 

Message 8 of 8
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