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Date of First Deliquency Different for OC and CA

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800goal800
Frequent Contributor

Re: Date of First Deliquency Different for OC and CA

@Anonymous  I will probably let sleeping dogs lie but it's a little frustrating to see the DofFD go from Sep 2014 to Dec 2014 out of the blue after 5 years.   The other bureaus had Sep 2014 as well.    

Message 11 of 21
Anonymous
Not applicable

Re: Date of First Deliquency Different for OC and CA


@800goal800 wrote:

@Anonymous  I will probably let sleeping dogs lie but it's a little frustrating to see the DofFD go from Sep 2014 to Dec 2014 out of the blue after 5 years.   The other bureaus had Sep 2014 as well.    


@800goal800 very frustrating, and if it causes you damages, you could potentially have a remedy, but you definitely have to document everything ad naseum.  In the end, maybe more than it's worth. 

Message 12 of 21
OmarGB9
Community Leader
Super Contributor

Re: Date of First Deliquency Different for OC and CA


@800goal800 wrote:

@RobertEG @Thank you.  
I also noted that the DofFD was updated by the OC from 9/1/2014 to 12/1/2014 a few months ago.  Date of last payment is 10/2014. 
Any thoughts as to why they would update to a further out date and then how could the DofFD be two months after my last payment ?


It appears you've already reached a decision, but just to clarify, it is possible to have a last payment after DOFD. It's simple: if an account goes delinquent, never comes back current, and then gets subsequently charged off, the day the payment was first missed sets the DOFD. If you were to make a partial payment towards this account, but that payment didn't bring it back current, it'll still count as a payment, but it won't fix the delinquency, and whenever you gave that partial payment would get recorded as the "Last Payment Date."


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Message 13 of 21
800goal800
Frequent Contributor

Re: Date of First Deliquency Different for OC and CA

@OmarGB9  Thanks.    I'm just annoyed that DofFD somehow changed after all this time....

Message 14 of 21
Anonymous
Not applicable

Re: Date of First Deliquency Different for OC and CA


@800goal800 wrote:

@OmarGB9  Thanks.    I'm just annoyed that DofFD somehow changed after all this time....


@800goal800 no you're absolutely right, it should not have changed and you have every right to fight to have it restored, but you may win the battle and lose the war because you have a time frame within which you need all this done. 


you can get it fixed but by then it may have aged off and be too late right? I don't know if you can apply pressure and get it fixed quickly enough without causing more problems. You're right but can you get it fixed in time without more issues?

Message 15 of 21
gdale6
Moderator Emeritus

Re: Date of First Deliquency Different for OC and CA

At this point since its from 2014 I would let sleeping dogs lie as far as a dispute with anyone and look at getting the EE out of the CRAs instead. You also say the CA updates monthly so this must be unpaid?? If it has been settled then updating per CRA rules is to stop once the balance is updated to 0. I also want to let you know that if the mortgage loan is over 150K then the mortage servicer can pull (at their discretion) what is known as a full factual credit report with can still show the unpaid debt past the 7.5 yrs allowed for a normal credit report.

Message 16 of 21
Anonymous
Not applicable

Re: Date of First Deliquency Different for OC and CA

That is true, then they can go up to 10 years. 

Message 17 of 21
800goal800
Frequent Contributor

Re: Date of First Deliquency Different for OC and CA

I'm not familiar with the factual report.    How does it stay on their for 10 years ?   Do the OC and CA's report to them directly ?

Message 18 of 21
Anonymous
Not applicable

Re: Date of First Deliquency Different for OC and CA


@800goal800 wrote:

I'm not familiar with the factual report.    How does it stay on their for 10 years ?   Do the OC and CA's report to them directly ?


@800goal800 no, the same statute that places the 7 year timeframe makes an exception for reports for transactions that involve amounts of $150,000 or higher.

 

Rarely do you hear of lenders asking for a 10 year report, but bureaus are simply prohibited from including information after 7 years, unless this provision is invoked and then they can include information up to 10 years old. 

Message 19 of 21
RobertEG
Legendary Contributor

Re: Date of First Deliquency Different for OC and CA

Exclusion of derogs, such as collections and charge-offs, is imposed upon the CRAs under the provisions of FCRA 605(a).

It does not delete the derogs from your credit file, it only mandates that a CRA cannot (normally) continue to include the derogatory information in credit reports they issue after the expiration of the exclusion peiod.

 

However, none of the exclusion provisions of section 605(a) are absolute.  FCRA 605(b) explicitly removes all of the exclusion provisions of section 605(a) under very specfic and limited situations, such as when a credit inquiry is made regarding a consumer-initiated request for credit or insurance with a principal value of $150K or more.

If the inquiree includes a showing that the inquiry is being requested for review of a consumer-initiated request for credit of $150K or more, the CRA can provide them a special credit report that includes any and all normally excluded information.

 

While the credit lobby was able to get that exclusion included as part of the FCRA, it has not, over time, been used to any substantive extent by credtiors.  In my decade and a half of active time here in the forums, I have seen only a handful of anecdotal posts stating that a consumer has been subjected to request for such a credit report.

It is essentially a provision of law which, while still in effect, is routinely not pursued.

Message 20 of 21
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