trying to figure out dates of deletions

[Anonymous]

I have two accounts I am trying to figure dates of deletions for they are not listed on my report:

Plains Commerce Bank

date opened: 9/2004

Reported since: 8/2005

Date of status: 2/2008

last reported: 2/2008

Charge off as Jan 2008, Sept 2005, Aug 2005

Continential Finance

Date Opened: 6/2007

Reported Since: 5/2007

Date of Status: 2/2008

Last reported: 2/2008

Charge Off as of Nov 2007 to jan 2008

90 days past due as of oct 2007

60 days past due as of Sept 2007

30days past due as of Aug 2007, July 2007

thank you to anyone who can help me

[BrandonSS]

If those are accurate DOFD's then:

Plains DOFD is 08/2005 which means it wont fall off until after 8/2013

Continential DOFD is 7/2007 which means it wont fall off until after 7/2014

[MarineVietVet]

The DoFD is the date of the first delinquency on the OC account that led to the CO and not the date of the CO itself.

The most accurate way to know the DoFD is to contact the OC and ask them. If that's not possiblr then you can look at credit reports although reports from third party sites often don't have the most complete information. If you pull your free reports from annualcreditreport.com Experian and Transunion will have the drop off dates. The Equifax report will show the actual DoFD.

You’ll get varied opinions about how long CO's and collections will remain on your reports. I’ve found at least three different views:

1. It is 7.5 years for both charge offs and collections.
2. It is 7 years for a collection and 7.5 years for a CO.
3. All accounts in CO or collection will come off after 7 years.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[LIGHTNIN]

yes I agree with Marinevietvet.....Get your free CR's from annualcreditreport.com

And on the CR's from TU and EX; will be the date of removal.

EQ will show the DoFD(date of first default)

DoFD is the 1st 30day late and the account was NEVER brought current again.

Ok if this account is reporting correctly, your 1st 30day late is July07

Add 7.5 yrs and approximate date of removal will be Feb 2015. Hope this helps

Continential Finance

Date Opened: 6/2007

Reported Since: 5/2007

Date of Status: 2/2008

Last reported: 2/2008

Charge Off as of Nov 2007 to jan 2008

90 days past due as of oct 2007

60 days past due as of Sept 2007

30days past due as of Aug 2007, July 2007

[RobertEG]

Deletion dates are not reported to the CRAs.  They are calculated by the CRAs based on the delinquency dates reported to them.

Taking the ContFin account as an example, that account actually has 5 derogs, each with their own CR deletion date.

DOFD only applies to the charge off.

30-day late in 7/07      drops after 7/14

30-day late in 8/07      drops after 8/14

60-day late in 9/07     drops after 9/14

90-day late in 10/07    drops after 10/14

CO in 11/07                drops after 1/15 (assuming a DOFD of 7/07)

[RobertEG]

This may be technical detail, but your DOFD does not have to be the date of a first reported 30-day late in your CR.  Actually, it should usually be a month earlier.

I raise this only to more clearly define what a DOFD is and what the CRAs use to determine your DOFD.

Assume, for example you have an account in good standing that sent a billing statement on 2/1/07. setting a 30-day period for payment of at least a min. amount.

Assume that payment was not received by 3/1/07.  It was thus delinquent as of 3/2/07.  That would be the legal date of first delinquency.

However, as long as that delinquency was paid before 4/1/07, it would not be reported to the CRA as a 30-day late.   If the delinqency was not paid until after 4/1/07, then the creditor can report a 30-day late to the CRA.  It will probably post as a 30-day late in 4/2007, when the actual DOFD occured on 3/2/07.

To further make the point, the OC had no obligation to have ever prevsiosly reported any monthly derogs to your CR before doing a charge off, or before a collection posts.  Then the CRA has no monthly derog upon which to "assume" your DOFD.  They dont rely on monthy payment history profile to determine DOFD.

So how does your DOFD actually get into your actual credit file?  The answer is FCRA 623(a)(5)(A).

Recognizing that a DOFD has no significance until a debt is either charged-off or placed for collection, the first legal requirement for reporting of a DOFD to your credit file does not occur until such time as the credtior does a CO or places an account for collection.  Then, knowing that the CRA needs this date in order to calculate the projected deletion date of any reported CO or CA, FCRA 623(a)(5)(A) places the requirement that the credtitor must report the date of first delinquency on their account to the CRA within 90-days of reporting a CO or placing the debt for collection.  That is not stored under your payment history profile.  It is stored under a totally different field of your CR based on what is reported to them under FCRA 623(a)(5)(A).  That is what the CRAs use to calcualte your projected date of drop of any CO or CA, not the date of a prior 30-day late.

Going back to the dates in the example above, the credtior could report a DOFD of 3/2/07.  However, depending on the level of knowlege of the clerk who reports, they may report a date of 4/2007.  That costs you a month in the ultimate drop off date.

Since DOFD is not a statuatorily mandated reporting until after the OC has done a CO or place the debt for collection, any request to a CRA to verify a DOFD should not be done until after the OC has done a CO or reported a status of placed for collection.

Date of deletion of any CO or CA may be hazy in the mind of others, but it is clearly specificed in FCRA 605(c).  The DOFD plus 180-days added to the DOFD sets the runnng of the 7 year period, after which any CO or CA  can no longer be ncluded in a credit report issued by any CRA.  You simple take the DOFD on the OC account, add 180-days, (six months, rounded), and that is the maximum time the CO or CA can remain in your CR. 

That is 7 1/2 years frorm DOFD for both OC and CA reportngs  Same.

Earlier deltetion can occur, but if max date of CR inclusion is the issue,  dontt think it is a matter of any personal interpretation.  The statute is as clear as can be.

[RobertEG]

You’ll get varied opinions about how long CO's and collections will remain on your reports. I’ve found at least three different views:

1. It is 7.5 years for both charge offs and collections.
2. It is 7 years for a collection and 7.5 years for a CO.
3. All accounts in CO or collection will come off after 7 years.

______________________________________________________________

Statute prevails, not opinions.

The clear, and unambiguous provisions of FCRA 605(c), relates, wiithout ANY distinction, to both charge-offs and collections.

So any assertion of different dates for delettion of a CO vs a CA are without statutory support.

FCRA 605(c) clearly cements the dates. 

The date of a  first delinquency on the OC account that  preceeded the CO or CA fixes, both under statutory constucton, and the legislative history behnd sectiion 605(c), as being the date of first delinquenccy on the OC account.  FCRA says, in firm words, that the date for calculatng the deletion of a collection or charge offet begins as of the DOFD on the OC account, plus 180-days.  It terminates as of 7 years plus 180-days from the DOFD,

I recognixe the ability of anyone to have an opinion.  I have given mine, and have given the statutory basis in support.

Other opinions are welcome, with statutory support.

The law is that further inclusion in any credt report issued by a CRA cannot include any reportng of a collection or charge-off based on an orignal creidtor account that has matured to 7 years plus 180-days from date of of first deinquency on the OC account.

[Anonymous]

Thank you everyone for the much needed advice in helping me figuring this out, credit reports can be so scarey to try to figure out with out help of fellow fico members like you guys

Thank you again

[MarineVietVet]

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@RobertEG wrote:

You’ll get varied opinions about how long CO's and collections will remain on your reports. I’ve found at least three different views:

1. It is 7.5 years for both charge offs and collections.
2. It is 7 years for a collection and 7.5 years for a CO.
3. All accounts in CO or collection will come off after 7 years.

______________________________________________________________

Statute prevails, not opinions.

The clear, and unambiguous provisions of FCRA 605(c), relates, wiithout ANY distinction, to both charge-offs and collections.

So any assertion of different dates for delettion of a CO vs a CA are without statutory support.

FCRA 605(c) clearly cements the dates. 

The date of a  first delinquency on the OC account that  preceeded the CO or CA fixes, both under statutory constucton, and the legislative history behnd sectiion 605(c), as being the date of first delinquenccy on the OC account.  FCRA says, in firm words, that the date for calculatng the deletion of a collection or charge offet begins as of the DOFD on the OC account, plus 180-days.  It terminates as of 7 years plus 180-days from the DOFD,

I recognixe the ability of anyone to have an opinion.  I have given mine, and have given the statutory basis in support.

Other opinions are welcome, with statutory support.

The law is that further inclusion in any credt report issued by a CRA cannot include any reportng of a collection or charge-off based on an orignal creidtor account that has matured to 7 years plus 180-days from date of of first deinquency on the OC account.

---

There are different opinions as to what that statute says. You know that Robert. Your opinion (and mine also BTW) is that both CO's and collections will stay for up to 7.5 years. Others read the statute as saying something entirely opposite and give the same "statutory support".

I have said over and over that I could be wrong in my opinion but that's the way I see it. And I won't tell someone else they are wrong because their interpretation of the statute is not the same as mine.

I find it interesting that few people seem to be able to say the words "I could be wrong". 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[RobertEG]

I am not just expressing my personal opinion,  I am relying on the stated interpretations of the two most authoritative sources.  Congress, and the FTC.

The FTC, who administers the FCRA, clearly stated in its staff opinion letter dated 8/31/98, addressed  to "Clifford Johnson," and available on the FTC web page, states in no uncertain terms that the date of first delinquency sets the running of the deletion period for both collections and charge offs on the same DOFD date, and that the period for each is the same  7 years plus 180-days from that same DOFD.  This FTC supports this position interpretation by specific reference to congresssional intent expressed in the Congressonal Record at time of enactment of FCRA 605(c).

That is the suipport of their "opinion."  I am not sure what others use to support contrary opinions.  I doubt that it trumps congressional intent and FTC interpretation.