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More proof Equifax is screwed up

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virgo
Established Contributor

More proof Equifax is screwed up

I have several accounts that should fall off this month. I've already verified data first delinquency with the creditors. They in fact are reporting correctly.

 

But on some of these accounts Equifax has the date of first delinquency as the same date as it's reported and that's not possible. 

 

For instance the date of first delinquency on one of my accounts is January 2015. In my payment history it says January of 2015. In equifax's graph it says last payment 2015.

But for data first delinquency they have February of 2015.

The date of first delinquency and the date of reported are not the same they can't be because you have 30 days before they've been report you delinquent.

Even the rep saw that my last payment was January 2015. He went on to say that the account came back verified. Of course it came back verified they are reporting correctly.

 

What to do what to do.

 

As always thank you in advance for any and all responses.

Message 1 of 9
8 REPLIES 8
dragontears
Senior Contributor

Re: More proof Equifax is screwed up


@virgo wrote:

I have several accounts that should fall off this month. I've already verified data first delinquency with the creditors. They in fact are reporting correctly.

 

But on some of these accounts Equifax has the date of first delinquency as the same date as it's reported and that's not possible. 

 

For instance the date of first delinquency on one of my accounts is January 2015. In my payment history it says January of 2015. In equifax's graph it says last payment 2015.

But for data first delinquency they have February of 2015.

The date of first delinquency and the date of reported are not the same they can't be because you have 30 days before they've been report you delinquent.

Even the rep saw that my last payment was January 2015. He went on to say that the account came back verified. Of course it came back verified they are reporting correctly.

 

What to do what to do.

 

As always thank you in advance for any and all responses.


I am not understanding the problem. 

You want them to change the DOFD to a later date so it stays on your reports longer? 

Message 2 of 9
virgo
Established Contributor

Re: More proof Equifax is screwed up

No. 

 

On my Equifax report they have date of first delinquency as the same date as its first reported. That date can't possibly be the same because you have 30 days before you're considered delinquent. For instance your payment is due in January you don't make it they're not going to know that until they report it in February.

 

Several of my accounts are supposed to fall off January 2021. The last payment made was January 2015. The graph says last payment made 2015. Even the rep said the last payment made was 2015.

 

This is why some of the accounts don't fall off when they're supposed to because the only date that matters is the date of the last payment that was made that resulted in the charge off.

 

If they put the incorrect date in the wrong spot it's not going to come off when it's supposed to.

 

Mine were supposed to come off this month. I realize it's only a month but that's not the point is it.

 

Again all this made sense in my head as I was riding it so I apologize if Its confusing.

But their data first delinquency says February o

 

Again the data first delinquency is what triggers the seven-year time. Equifax has February 2015 as the last payment.  even though on their very report it says the last payment made

 

Message 3 of 9
dragontears
Senior Contributor

Re: More proof Equifax is screwed up


@virgo wrote:

No. 

 

On my Equifax report they have date of first delinquency as the same date as its first reported. That date can't possibly be the same because you have 30 days before you're considered delinquent. For instance your payment is due in January you don't make it they're not going to know that until they report it in February.

 

Several of my accounts are supposed to fall off January 2021. The last payment made was January 2015. The graph says last payment made 2015. Even the rep said the last payment made was 2015.

 

This is why some of the accounts don't fall off when they're supposed to because the only date that matters is the date of the last payment that was made that resulted in the charge off.

 

If they put the incorrect date in the wrong spot it's not going to come off when it's supposed to.

 

Mine were supposed to come off this month. I realize it's only a month but that's not the point is it.

 

Again all this made sense in my head as I was riding it so I apologize if Its confusing.

But their data first delinquency says February o

 

Again the data first delinquency is what triggers the seven-year time. Equifax has February 2015 as the last payment.  even though on their very report it says the last payment made

 


So.... your DOFD is when the first late happened not when you made the last payment (unless it was a partial payment). So if the last payment was made in January, your next payment due date is February and you would be be 30 days late in March.

So still not understanding.....

Message 4 of 9
bass_playr
Established Contributor

Re: More proof Equifax is screwed up

No. 

 

On my Equifax report they have date of first delinquency as the same date as its first reported. That date can't possibly be the same because you have 30 days before you're considered delinquent. For instance your payment is due in January you don't make it they're not going to know that until they report it in February.

 

Several of my accounts are supposed to fall off January 2021. The last payment made was January 2015. The graph says last payment made 2015. Even the rep said the last payment made was 2015.  Depending on the type of account, there's a matter of the additional 180 days that the entry could stay on past 7 years.  They are not going to all automatically fall off at the 7 year mark.  Many of them are removed at 7 years but don't be surprised if you see a charged-off account on there for another 6 months or so.  The actual wording is 7 years plus 180 days.  That 7.5 years should begin at the first delinquency--meaning, once your account first becomes 30 days late, that's the start of that clock.

 

This is why some of the accounts don't fall off when they're supposed to because the only date that matters is the date of the last payment that was made that resulted in the charge off.  

 

If they put the incorrect date in the wrong spot it's not going to come off when it's supposed to.  This is why we should keep on top of these things, because when a CRA doesn't do what it is supposed to, we sometimes have to prompt them to.  Good job keeping track, it can only help you in the event that they do not remove them as they should.

 

Mine were supposed to come off this month. I realize it's only a month but that's not the point is it.  You should also remember that the month is not over yet, some furnishers do not report to the bureaus until the end of the month.

 

Again all this made sense in my head as I was riding it so I apologize if Its confusing.

But their data first delinquency says February o

 

Again the data first delinquency is what triggers the seven-year time. Equifax has February 2015 as the last payment.  even though on their very report it says the last payment made  Sometimes they make this confusing.  I wouldn't lose sleep over it, just keep an eye on it and if they do not pull them off, then dispute the entries as time-barred for reporting.  Also, keep in mind that if the last payment was 1/2015, then delinquency does not occur until 2/2015.  So, 7 years plus 180 days maximum, beginning in February 2015.  This means the entry could lawfullly remain on your credit until August 2022.  Hang in there, I know it's frustrating but you're almost there.  

 

Message 5 of 9
virgo
Established Contributor

Re: More proof Equifax is screwed up

Thank you for your detailed responses as always they are appreciated and very helpful to understanding the crazy world of credit.

Message 6 of 9
Anonymous1899
Valued Member

Re: More proof Equifax is screwed up

Not to question what you are seeing, but are you sure it's the Date of first delinquency that's wrong and not the field: Delinquency First Reported.  Equifax is the only bureau with this field.

Message 7 of 9
virgo
Established Contributor

Re: More proof Equifax is screwed up

I understand what everyone's saying I really do. Maybe I'm being a little dense.

 

But not all the accounts are reporting that way the creditors have the right information.

 

My last payment made that resulted in delinquency was March. They have listed as May. The same date that they use for date of first delinquency. So if my last payment is the last one ever made that resulted in it never recovering, it would be my date of first delinquency.  It still wouldn't be May.  

 

As I said only a few of the accounts report like this.  I know it's not the creditor because they have the right dates on the other two reports they're not going to change them for this.

 

Thank you again for your responses greatly appreciated

Message 8 of 9
Anonymous1899
Valued Member

Re: More proof Equifax is screwed up

 

 



  

Message 9 of 9
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