Equifax vs TransUnion Fall off dates

[Anonymous]

I'm very confused about a closed capital one account on my credit report.  The account opened 5/06 and shows closed, Pays as Agreed in status.  However, starting July 2009, I had late payments up to Nov when it was closed by creditor.  Worst delinquincy is 120+ days.  It's not a charge off or collection and it was paid.

I've heard that closed accounts stay on your report for 10 years, but individual lates fall off as they hit 7 years.  The tradeline would eventually turn positive after the lates fall off.  Equifax says something to this effect on their website.  First of all, 10 years from what date?  Date closed?

I called Transunion and was told the tradeline will fall off this August based on on DOFD.  I had expected the lates to start falling off in August, but for the tradeline itself to stay on.

I guess I don't care if the whole thing goes away or just the lates, but seems like EQ and TU have different policies on fall off dates?  Is that accurate? 

I'm really trying to see if I can get an Early Exclusion from TU, but the more research I do, the more confused I get!  I heard EEs don't work for closed accounts with late payments in Pays as Agreed status, just for CO or collections.  This account is not a CO or collection, but the whole tradeline will supposedly fall off in Aug anyway.  Do you think I can get EE for this one?

[RonM21]

I'm not sure about the 10 years. I think that may apply more to like a judgement. It should be 7 years from the date of delinquency. It would appear that whatever lates you had should fall off this year, going by the info you provided.

I thought I've seen EE's work on multiple types of lates, not necessarily limited to a particular type. The bureau itself would determine if they will remove early.

[Anonymous]

Ah ok!  I think I just misunderstood this from the equifax website then:

Accounts in good standing: Credit accounts that are closed but were paid as agreed, will normally remain on your credit report for up to 10 years from the date of last activity. Positive information onopen accounts in good standing, however, can stay on your credit report forever.

It's confusing because my account status is Pays as Agrees, but there were late payments before the card closed so it's an adverse account.  Credit reporting makes my head hurt lol!

[RobertEG]

If there is no reported collection or charge-off, there will be no reported DOFD.

DOFD is only reported and used for determining the exclusion of a collections or charge-off.

The rep gave you bad information, as you have no CO or collection.

Monthly delinquencies become excluded no later than 7 years from their dates of occurence.

That is a statutory, and thus required, exclusion.

The CRA internal housecleaing deletion policy is at approx 10 years from date of closing of the account, but is not regulated under the FCRA, and can vary.

[Anonymous]

Well I called back today and spoke to a different person at Transunion.  I was told the account would fall off 7 years from the late closed or last payment date.  This account was closed 10/2009 and he said would fall off this year.  Not sure why TU doesn't seem to follow the 10 year rule.

I went ahead and asked for early exclusion, not thinking it was really an option since it wasn't a charge off or collection.  I was super suprised when they said yes and removed the account!  Yea, can't wait to see if my score increases!

Thanks everyone!

[Anonymous]

I didn't think this day would ever come...

I got my last two Transunion baddies EE'd off 6 months and 5 days early from DOFD a few moments ago.

I called my go to number 1-800-916-8800 and you ALWAYS ask to talk with a supervisor NEVER a frontline CSR. These were my 3rd and 4th baddies I EE'd at 6 months with Transunion.