TU says collection falls off in June but still reports in June

[neptunejcw]

I have collection from Asset Acceptance via Capitol one that falls off June 2013, well I refreshed myfico report & it still is reporting. I called TU & they said it falls off this month, exactly how long does it take this to fall off my credit, will it be a certain date or a end of the month kinda thing. This is the 1st time this has happened when an account ages off

[madmann26]

It can fall off anywhere  between the 1st and 30th.

[bahbahd]

June is not over yet.

[Burned2manybridgesB4]

...and it could go well into the first weekend of the following month too.

[guiness56]

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@Burned2manybridgesB4 wrote:

...and it could go well into the first weekend of the following month too.

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No.  It has to be removed by the end of the month or the CRAs are in violation of the FCRA.

[Burned2manybridgesB4]

...tell that to Ex.

[guiness56]

They are estimated dates, however, if it isn't removed and the date changed for removal it could be a violation of the FCRA by reporting beyond the legal date.

[Burned2manybridgesB4]

I know....

[RobertEG]

The controllling date for exclusion of a collection is the DOFD on the OC account.

FCRA 623(a)(5), which is the statutory section governing reporting of DOFD, requires only the month and year of the DOFD.  Day of the month is not reported.

Exlcusion occurs after expiration of the period.  The rub is that the period is not in months, it is in years and days (7 yrs plus 180 days), making month determinatiion a bit murky.

Take the month and year of the DOFD.  Add 7 years plus 180 days.  That falls within a future month and year.

Credit report exclusion then prevents the CRA from including the collection in any credit report they issue beginning the next month.

[Shogun]

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@madmann26 wrote:

It can fall off anywhere  between the 1st and 30th.

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^^  I like this answer.