How accurate is CR deletion date that Experian gives?

[George888]

Hi everybody,

For most of the trade lines on my Experian credit report, Experian gives a date for when the trade line will come off.  It is given under the heading "Status Details," and the text is similar to:  "This account is scheduled to continue on record until Apr 2015."

• Does anybody know if the date that Experian gives is accurate?  

My guess is that as long as the OC or CA gives Experian the correct DOFD, Experian can easily calculate the CRTP end date to 7 years and 6 months after the DOFD.

• Does anybody have any experience with this date on the Experian CR being incorrect for any reason?  

[llecs]

IME the drop off dates have been fairly accurate and for me was based on 7-yrs vs. 7.5. EX had tended to delay the drop off by a couple months though in relation with the drop off date. I've had that drop off date change to the next month when the current month hit the drop off date. I've seen it change as much as twice. And IME, when the month hit, it usually didn't drop until a couple weeks into that month. TU was easier to deal with and they were good for their word, or if not drop before 7-yrs.

[RobertEG]

As you surmised, the critical issue is that party who reported any information pertaining to a collection or charge-off has correctly reported the DOFD to the CRA, as required by statute.  If you know that date, the issue of CR deletion rarely becomes a problem

Since CR exclusion is a statutory mandate imposed on the CRAs, they are pretty serious about ensuring that exclusion occurs no later than the statutory date.

So serious that, in most instances reported by others on the site, they do it well prior to the statutory max date.

[George888]

That is good to hear.  Thanks both of you for the informative responses.

[guydiver]

Mine says account is scheduled to go to positive status by 4/12. As of 4/6/12 it was still on there. Funny thing is they're not major derogs but 30,60,90 day lates. The seven years for the oldest one isn't until 6/12. EQ is reporting the same lates, but no drop off date, and none have dropped yet.

[George888]

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@guydiver wrote:
Mine says account is scheduled to go to positive status by 4/12. As of 4/6/12 it was still on there. Funny thing is they're not major derogs but 30,60,90 day lates. The seven years for the oldest one isn't until 6/12. EQ is reporting the same lates, but no drop off date, and none have dropped yet.

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guydiver,

Can you please let us know when the derogs start dropping off?  Due to the other posts in this thread, I've started to think that derogs or trade lines will drop off on, or near, the date that Experian gives.  

[hdrider07]

I am curious on this too.  I have an account the EX says will continue on record until July of 2015, but looking at the legend for my payment history I was 30 days late in October of 2008 so essentially it should continue on record until Oct 2015.  Guess I'm not really complaining, just wondering whats going on with it.

[guydiver]

O.K. guys, I'll keep you informed of any drop offs when or if they happen.

[George888]

Thank you sir.

[guydiver]

UPDATE!  My EX report is clean!  I don't know when the last lates dropped off, but I just pulled my monthly Truecredit 3 bureau report, and my last EX baddies are gone.  As I posted before, EX (via annualcreditreport.com) had my account to go to "positive status" on or before 4/12, but the lates(30,30,60,60,60,90) were still on there as of 4/6/12.  Today they are all gone.  My Vantage score also went up to 834.  That leaves only EQ to go.  It was reporting the same lates, but today one of the 60 days is gone.  Don't know if that will get me any EQ Fico points or not since the 90 day is still on there, but I'll take it.  They should fall off every month now since they were in chronological order of months. I thought the 30 day would fall off first....but it probably doesn't even count now after almost 7 years.  It's that 90 day that is hurting my score the most.  Maybe next month.

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