DELINQUENT REPORTING DATE??

[Anonymous]

I have received my credit report from Equifax and I have notice TWO delinquent reporting dates: 1st Reported Date and 1st Major Reported Date.

Which date starts the seven year drop off?? Please advise.

Second question, should I pay off ALL of my debt even if the date is close for it to fall off?

Thank You Guys, I really appreciate you!

Peaved

[LIGHTNIN]

Welcome to the forums,

Sorry this is going to be short dinner on the table.But i' m sure other will chime in.

DOFD is the date the CRA use, that date is set by the OC. Match up the OC to the CA.

Find the last 30day late that preceded the reporting of the collection, and that is the DOFD.

Collections remain on your CR up to 7 1/2 years from the DOFD. 

Paying a CA will only be marked a paid, as FICO scoring sees it no different then a unpaid CA.

A  PFD (pay for delete) letter would work, that is paying a CA in exchange for a delete from your CR's

 You will need to check your states SOL. A CA will always TRY to collect even tho its passed SOL and CRTP.

If you are served papers to go to court, Do show up to court and use Passed SOL as a defense.

Check back with you later,hope i made sense,didnt take time to reread....dinner getting cold  bye 

[RobertEG]

The simple answer is that there is NO single drop-off date.

Drop off dates for monthly deliquencies with an OC each have their own drop off date, under FCRA 605(a)(5), at seven years from each of their indiidual dates of delinquency.  The DOFD has NO relevancy to those dates.  Period.

DOFD only becomes relevant once an OC account is either charged off or placed into collection.  FCRA605(c).

That gives the creditor or CA the ability to post a new derog to youar CR. 

All COs or CaS are indepent reprotings, and can no longer be reported after 7 1/2 years from one date certaom.... the DOFD on the OC account.

Message Edited by RobertEG on 01-13-2010 08:12 PM