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Question on start date for negative reporting age

Brooklyn2018
Valued Contributor

Re: Question on start date for negative reporting age

RATS!! lol

Sorry. Yeah I’ve read Cap1 is tuff.

Oh well, at least it’s paid and it’s aging and soon will be a memory. Be sure to keep up with your EE dates. Time will fly by before you know it so, mark your calendar👍 I’ve got one due(EE) in Nov. ONLY EE I’ve got coming up Lol I’m still excited though!

😊




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Message 11 of 12
RobertEG
Legendary Contributor

Re: Question on start date for negative reporting age

The DOFD that applies to the exclusion of a reported charge-off is the date that you first became delinquent on the account, and thereafter remained delinquent until the creditor took the charge-off.

 

No other date is relevant to determining the exclusion of the reported charge-off.  

The CRA must exclude any reference to the charge-off in any credit report they issue after a period of 7 years plus 180 days from the DOFD.

See FCRA 605(c).

 

The creditor is required to separately and explictly report to the CRA within 90 days after having reported a charge-off their determination of the DOFD that pertains to the CO.  See FCRA 623(a)(5).

That is stored in a separate code called the "FCRA Compliance Date/DAte of First Delinquency.'

If not shown in your commercial credit report, you can usually get the reported DOFD from annualcreditreport.com, or by getting a report directly from the CRA.

 

If the creditor reported that the account was 30-late in Oct 2012, that means the account became delinquent at least 30-days prior, which would be at least Sept, 2012

That would result in required exclusion after March, 2020.  The CRA will likely exclude after Sept, 2019.

The CRA must then exclude the 

Message 12 of 12
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