DOFD and SOL question

[Anonymous]

When it comes to being sued for a debt, is the SOL counted as month/year or day/month/year? For example, if DOFD is listed as 01/10 is that the actual date or could the CA claim a date of 01/21/2010?

[Anonymous]

Assuming they have the account info - theoretically they COULD go by the exact day for the SOL. So if the DoFD is shown as 1/2010, and the SOL is five years I would not assume I was out of the woods until 2/01/2015

[gdale6]

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@Anonymous wrote:

Assuming they have the account info - theoretically they COULD go by the exact day for the SOL. So if the DoFD is shown as 1/2010, and the SOL is five years I would not assume I was out of the woods until 2/01/2015

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+1 and to really be sure I would wait till 3/1/15 to do anything just in case the DoFD is off by a month or so, you can figure it out its the first occurrence of a 30 day late that leads to the CO.

[RobertEG]

FCRA 623(a)(5), which is the statute regulating the reporting of the DOFD to the CRAs, specifically requires reporting of only the month and year of occurence.

Thus, credit report exclusion for a collection is always based on the end of the month plus 7 years plus 180 days.  Exclusion then begins the next month.

Most state SOL statutes start the running of SOL from the same DOFD. 

The day of the month would only become relevant if they wait until the very last month to file their suit.

In that event, the day of the month that your payment was due could become an issue with respoect to expiration of SOL, but DOFD for credit reporting purposes is never fne tuned to day of the month.