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old charge offs

New Member

old charge offs

when you have a old charge off that will drop off your report in April When in April will it drop off?

Message 1 of 6
5 REPLIES 5
Established Member

Re: old charge offs

You could possibly call the credit bureau to see if they will do an early exclusion.

Message 2 of 6
New Member

Re: old charge offs

Already tried that Ex won't budge. So I was just wondering at what time of the month it will drop. all the report says is April 2019

Message 3 of 6
Legendary Contributor

Re: old charge offs

The period is set by FCRA 605(a)(4), as clarified by FCRA 605(c), which together set the exclusion as required when the date of first delinquency antedates the current date by at least 7 years plus 180 days.

 

FCRA 623(a)(5) establishes that the reported DOFD is only in terms month and year.  Day of the month is not recorded or used by the CRA in establishing the DOFD, and thus antedating will be based on the last day of the month of the reported DOFD.

 

Last day of the DOFD month plus 7 years plus 180 days will permit the collection to continue to report until the first day of the next month after expiration of 7 years plus 180 days.

Since exclusion is required in the following month, the number of days in each month is not a mathematical issue, and one can simply use 7 years plus 6 months to calculate the month that is the last permissible inclusion, with exclusion then being mandated beginning at 7 years plus 7 months from the month/year of the reported DOFD. 

Message 4 of 6
New Member

Re: old charge offs

UPDATE: 

Trans deleted it. Ex will come off in April and waiting to here from EQ

Message 5 of 6
Legendary Contributor

Re: old charge offs

Of course, the required statutory exclusion is usually not reached for collections or charge-offs, as the CRAs rountinely choose to provide their own, standard, early exclusion at approx 7 years, and dont wait for the expiration of the additional 180 days that is permitted by the FCRA.

 

Message 6 of 6
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