DOLA has NOTHING at all to do with CR drop off dates, period.
Lates occur only on an open OC account.
Each monthly delinquency reported late by an OC drops, under FCRA 605(a)(5), at 7 years from its individual date of delinquency. Later payments, or any DOLA, are meaningless.
Accounts themselves NEVER drop under any provision of the FCRA.. Only drogs reported under the account.
If the OC then reports their account as a charge off (CO), then the continued reporting of the CO has new rules for reportng. It is 7 1/2 years from the date of first deinquency on the OC acount. Again, any DOLA is meaningless.
The same DOFD applies to any collection agency reporting against the debt. Regardless of any DOLA, the CA refers back only to the DOFD on the OC account, and must drop after the 7 1/2 years from the DOFD on the OC account.
