Fall Off Question...

[shane1120]

I have two, paid, charge-offs still remaining on my CR. One went 30 days late in Feb. 2007 and the other was Dec 2007. Since the DOFD was when the first 30 day lates appeared, will both of these fall off my report next year?

Thanks 

[Anonymous]

It can be as early as Feb 2014 and as late as Aug 2014.  The other as early as Dec 2014 and as late as Jun 2014.

[mtrsprt]

You can pull a free report from TU and EQ (Through Annual Credit Report.com), that will show when all your collections/negative accounts are scheduled to fall off your report.....  It's free, and you are allowed to self pull one report from each credit bureau once per year.  EX doesn't show when the accounts will be removed however.

[RobertEG]

I would find out what they actually reported to the CRA as the DOFD.

DOFD could be a month earlier than a reported 30-late.

While a repoted 30-late is a close approximation to DOFD, it is not the same.

An account delinquency occurs when the first payment is not made by the billing due date.  It does not become a reportable 30-late untl after 30 days past the billing due date.

The maximum date after which the CO must be excluded is 7 yrs plus 180 days from the DOFD.

The CRAs can, and often do, exclude a few months prior to the max statutory date in order to avoid any violation.

Thus, when it actually is excluded varies, which is why estimated dates are not exact.

[coterotie]

I'm trying to find DOFD for 2 citibank accounts now.  The problem is MCM is still reporting, but the original creditor, citibank stopped reporting more than a year ago.  Midland has agreed that the debt is past the SOL (3 or 6 years they erroneously interpret 6 years).  I'm getting ready to send them a fax to stop reporting to the bureaus, but would really like to reference the DFD.

Without getting a sleeping dog riled up, anyone have any ideas about how to get this info?

[Shogun]

    Start with pulling your FREE CR's from (ACR) annualcreditreport.com . they tend to have more info on them, then ones from a 3rd   party.   The CR's from ACR, come directly from each of the CRA's. You can pull 1 Free CR from TU,EQ and EX every 12 months.

   Save your money and Don't Buy the Scores, they are what we call FAKO's.

One of the posters above had made a comment concerning this, though I think they confused a couple of the CRAs.  TU and EX will show the dates this is expected to fall off, EQ will list a DoFD.

Do you have an old CR with the OC on it with the dates?  This would provide the information also, the CAs reporting must match the OCs.

[coterotie]

After going through a ton of electronic files, finally found a CR with the original creditor on it, that also shows the delinquency.  (Harder than you think)  Shows dofd of August 2006.  Also shows that it should be deleted by 12/2012.  It was deleted by the OC in 2011 or earlier.

So now a fax to Midland or a dispute with the CB?  Or both?

[DaBears]

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@coterotie wrote:

After going through a ton of electronic files, finally found a CR with the original creditor on it, that also shows the delinquency.  (Harder than you think)  Shows dofd of August 2006.  Also shows that it should be deleted by 12/2012.  It was deleted by the OC in 2011 or earlier.

So now a fax to Midland or a dispute with the CB?  Or both?

---

The latest it could stay on is 02/2014 7 yrs plus 180 days. 

[Shogun]

The OC can delete early, that' up to them.  The CA can stay on, but it can't stay on longer than what the OC could have stayed on.  So at the absolute worst case scenario, you have 180 days that it "could" stay on.  But, if the CRA saysthe OC should be removed in 12/2013, I'd try to use that as some fuel for the fire.

[RobertEG]

Creditor or debt collector involvement in the exclusion of either a charge-off or collection begins and ends only with their required reporting of the DOFD on the OC account.

That reporting is required to be made to the CRA within 90 days after reporting of either a collection or charge-off.  It is required to be in your credit file.

If you cant get it from a commercial credit report or from annualcreditreport.com, you can always send a request to the CRA for that date under the provisions of FCRA 609(a)(1).

If a reported CO or collection is not excluded after 7 years plus 180 days from the reported DOFD, complaint is with the CRA, not the furnisher.

However, if the incorrect DOFD was reported, and thus the OC or collection remains based on that incorect reporting, the CRA is not the party at fault.

It is the furnisher, and would be addressed by disputing the accuracy of their reported DOFD.

The FCRA does not bar the continued reporting of a collection after expiration of its credit report exclusion period, it bars the CRA from including any such reporting in any credit report they isssue.  Thus, a party does not violate the FCRA by continuing to report.

REporting after expiration of the normal credit report exclusion period is clearly proper in view of the exempton of all credit report exclusion requirments that is provided under FCRA 605(b\), which still permits, under limited circumstances, the CRA to issue a credit report when the requestor has shown that it relates to, for example, a requet for credit that is at least $150K.  In that event, reporting made after the normal credit report exclusion period is still relevant, and is not barred.