Early Exclusion timing question -

[calyx]

I did some digging, but I didn't see what I'm looking for - my apologies if this has already been covered.

Transunion, Experian, and Equifax will sometimes entertain early exclusions at 6, 3, and 1 month timepoints, respectively.
The question I have is - are people asking for the early exclusion based on the DOFD or when the credit report says that the CRB will exclude?

Example:
I have a baddie with a DOFD of 10/2012.
7 years puts it at 10/2019 for a removal date (up to 4/2020 if they do the full 7/180).
TU says the expected removal date is 7/2019 on my report from them.

Would I have a chance of successfully calling about an early exclusion at 1/2019 (6 months early from TU's date) or do I need to wait until 4/2019 (6 months from the typical 7 year)?

I was just going to ride out my baddies since they'll be off this year (sadly along with my oldest accounts), but the idea of having 1 report competely clean in the next month has me a bit excited and curious as to what my score will be.

edited to correct the CRAs.. oops

[xaximus]

Are the baddies late payments? 30 day? 60? 90? 120? COs? Definitely would need more information on what kind of baddie it is to advise on what the possible impact can be.

[calyx]

Two old student loan accounts, 120 days late/reassigned to a guarantor.  The account is closed (closed in 2013). 
DOFD is listed as 10/12 (which is correct) and TU reports probable removal on my report in 7/19.
I am not concerned with the scoring impact, per se,  but I am interested to see what happens and don't want to waste my time in Jan calling TU if I should wait 'til April.

My question is:  for 6 month EE, should I call/ask in 1/2019 or 4/2019.

[xaximus]

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@calyx wrote:

Two old student loan accounts, 120 days late/reassigned to a guarantor.  The account is closed (closed in 2013). 
DOFD is listed as 10/12 (which is correct) and EX reports probable removal on my report in 7/19.
I am not concerned with the scoring impact, per se,  but I am interested to see what happens and don't want to waste my time in Jan calling EX if I should wait 'til April.

My question is:  for 6 month EE, should I call/ask in 1/2019 or 4/2019.

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I would suggest waiting for the 6 month mark to come. I.E. if DOFD is 10/2019, the earliest would be 4/2019. I wouldn't attempted to do it prior to that as it possible will be declined. The scoring impact should be a decent increase since a 30 day late's impact is gone after 2 years, 60/90/120 generally impact the full 7 years. 

[calyx]

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@xaximus wrote:

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@calyx wrote:

Two old student loan accounts, 120 days late/reassigned to a guarantor.  The account is closed (closed in 2013). 
DOFD is listed as 10/12 (which is correct) and TU reports probable removal on my report in 7/19.
I am not concerned with the scoring impact, per se,  but I am interested to see what happens and don't want to waste my time in Jan calling TU if I should wait 'til April.

My question is:  for 6 month EE, should I call/ask in 1/2019 or 4/2019.

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I would suggest waiting for the 6 month mark to come. I.E. if DOFD is 10/2019, the earliest would be 4/2019. I wouldn't attempted to do it prior to that as it possible will be declined. The scoring impact should be a decent increase since a 30 day late's impact is gone after 2 years, 60/90/120 generally impact the full 7 years. 

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Have you asked for an Exclusion in the past?   I'm curious what dates people have successfully used.

The lates should give me 90-100pts once they're off if my data matches others.  However, my AoAA will drop to <2 years, which will lose me a chunk of points.   I'm not terribly concerned about my score (I don't 'need' it to be good at this point), I'm far more interested in having a clean report.

[calyx]

Poking about, it appears people are asking based on the CRA's exclusion date, so I'll try that and report back

[RobertEG]

Monthly delinquencies are controlled under FCRA 605(a)(5), and have a simple 7 year exclusion period. 

It is only collections and charge-offs that have a statutory exclusion period that adds an additional 180 days.  See FCRA 605(c).

Monthly delinquencies that are based on a date of initial delinquency of 10/2012 would have a max exclusion date of 10/2019.

If a CRA is providing an estimated removal date of 7/2019, they are apparently using a slightly different date of initial delinquency to make that 7 year exclusion determination.

That is common for monthly delinquencies, as a creditor is not required to specifically report a DOFD to a CRA unless they have also reported a charge-off.  The CRA then must estimate the date of initial delinquency, which is apparently the case in the posted scenario.

They likely used an estimated date of initial delinquency based on backdating from reported monthly delinquencies, which is not necessarily determinative of the factual DOFD since creditors are not required to report a first late in the specific month in which is occured.

If they also reported a CO, then there MUST be a  DOFD separately and explicitly reported by the creditor.  

That could be different than a CRA estimate based on inferred factors such as payment history profile.

Regardless, go by the CRA statement of estimated date of exclusion when requesting any early exclusion.

If they are providing an estimated exclusion date of 7/2019, then a 3 month early exclusion would be in 4/2019.

I would igore the DOFD in your situation, and rely onlyy upon the CRA estimated exclusion date when requesting early exclusion.

[calyx]

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@RobertEG wrote:

Monthly delinquencies are controlled under FCRA 605(a)(5), and have a simple 7 year exclusion period. 

It is only collections and charge-offs that have a statutory exclusion period that adds an additional 180 days.  See FCRA 605(c).

Monthly delinquencies that are based on a date of initial delinquency of 10/2012 would have a max exclusion date of 10/2019.

If a CRA is providing an estimated removal date of 7/2019, they are apparently using a slightly different date of initial delinquency to make that 7 year exclusion determination.

That is common for monthly delinquencies, as a creditor is not required to specifically report a DOFD to a CRA unless they have also reported a charge-off.  The CRA then must estimate the date of initial delinquency, which is apparently the case in the posted scenario.

They likely used an estimated date of initial delinquency based on backdating from reported monthly delinquencies, which is not necessarily determinative of the factual DOFD since creditors are not required to report a first late in the specific month in which is occured.

If they also reported a CO, then there MUST be a  DOFD separately and explicitly reported by the creditor.  

That could be different than a CRA estimate based on inferred factors such as payment history profile.

Regardless, go by the CRA statement of estimated date of exclusion when requesting any early exclusion.

If they are providing an estimated exclusion date of 7/2019, then a 3 month early exclusion would be in 4/2019.

I would igore the DOFD in your situation, and rely onlyy upon the CRA estimated exclusion date when requesting early exclusion.

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Thank you for the explanation, RobertEG, especially the clarification of the simple 7 year rule.