Better Understanding of Date of Delinquency help...

[Anonymous]

Ok, so I'm trying to wrap my head around this whole early exclusion thing for late payments, charge offs, etc. I have a charge off account that I believe will come off next year, I think. I included a screenshot of how it's reporting on MyFico (sorry it’s not the best since I'm not too experienced on uploading things on here). It was a Sych/Lowes account that I opened around October of 2012. It went 30days late around February 2013 and charged off on July 2013. It went into collections which I paid in 2016 I believe. So when the time comes what do I actually ask to be removed? Do I ask for the lates, charge offs, or the whole account? I’m new to this and this is the only “baddie” I have besides a bankruptcy that is due to drop off Equifax next month. So I'm not sure how to approach it. 

Any input/advise will be much appreciated

[Anonymous]

Your DoFD is when the account went delinquent & never recovered, so Feb '13 is your DoFD. It would fall off in Feb '20, but you can ask for EE from Transunion 6 mo prior (so Aug/Sep '19), Experian 3 mo prior (Nov '19) & Equifax 1 mo prior (Jan '20). GL!

[Remedios]

OP already tried that and it caused issues. I really wish that whenever someone recommends EE, they also mention what happens when those fail. 

[Anonymous]

Thanks for the input.

So what am I actually asking for? To have the charge off removed or the whole account? Sorry I'm just trying to understand so I can use the correct verbage.

[Anonymous]

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@Remedios wrote:

OP already tried that and it caused issues. I really wish that whenever someone recommends EE, they also mention what happens when those fail. 

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What happened to you? Did it reset the date or did Equifax fudge something up? (They are not my friend )

[Anonymous]

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@Remedios wrote:

OP already tried that and it caused issues. I really wish that whenever someone recommends EE, they also mention what happens when those fail. 

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Remedios, I'm not seeing in the OP's post where they said they already tried that- if it was in another post I did not see that. I was merely responding to what the OP asked about DoFD. =/

[Remedios]

https://ficoforums.myfico.com/t5/General-Credit-Topics/Asking-Equifax-for-Early-Exclusion-Issue/m-p/...

[Remedios]

TU gets it right for the most part, but the other two are very likely to mess it up. 

I would seriously leave it alone. If you wish, use search feature and look up early exclusion horror stories. 

After the derogs fall off, you get to keep the positive account history a bit longer, and it will continue to contribute towards AAoA. That to me is worth waiting a few extra months 

If you were to ask for EE, and it's granted (and done right, but that's one big if), you lose entire TL. 

[Anonymous]

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@Remedios wrote:

TU gets it right for the most part, but the other two are very likely to mess it up. 

I would seriously leave it alone. If you wish, use search feature and look up early exclusion horror stories. 

After the derogs fall off, you get to keep the positive account history a bit longer, and it will continue to contribute towards AAoA. That to me is worth waiting a few extra months 

If you were to ask for EE, and it's granted (and done right, but that's one big if), you lose entire TL. 

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That thread you linked was actually for my bankruptcy for Equifax that I decided to leave alone until next month bc I know they are trouble. I had no issues with Transunion and Experian for the EE.

The thread that I actually started today was the process for a charge off I had in 2013 that will hit 7years in 2020. So I was asking for a better undertstanding of how to know when and what exactly was going to happen when the date came closer. I havent tried to ask for an EE for the charge off yet bc it's way too early.

[Remedios]

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@Anonymous wrote:

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@Remedios wrote:

TU gets it right for the most part, but the other two are very likely to mess it up. 

I would seriously leave it alone. If you wish, use search feature and look up early exclusion horror stories. 

After the derogs fall off, you get to keep the positive account history a bit longer, and it will continue to contribute towards AAoA. That to me is worth waiting a few extra months 

If you were to ask for EE, and it's granted (and done right, but that's one big if), you lose entire TL. 

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That thread you linked was actually for my bankruptcy for Equifax that I decided to leave alone until next month bc I know they are trouble. I had no issues with Transunion and Experian for the EE.

The thread that I actually started today was the process for a charge off I had in 2013 that will hit 7years in 2020. So I was asking for a better undertstanding of how to know when and what exactly was going to happen when the date came closer. I havent tried to ask for an EE for the charge off yet bc it's way too early.

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I understand that was your thread, I stated so. It was in reference  to not suggesting EE lightly without also addressing what happens if it goes wrong. 

Right above your post I've addressed what happens with tradeline if allowed to naturally "drop" derogs vs requesting EE and having entire TL removed. 

Good luck.