FICO Age Of Collections

smallfry · ‎06-20-2009

Evidently EQ/FICO use the date assigned rather than DOFD for aging medical collection. I assume this holds true for other types of collections as well?

Anonymous · ‎06-20-2009

I thought this would be illegal for this to happen?

smallfry · ‎06-20-2009

@Anonymous wrote:
I thought this would be illegal for this to happen?

According to the age of the newest collection on an Equifax Score Power report it has to be date assigned. DOFD is a full year and a half earlier than that. It shows 4 years 7 months. DOFD is a shade over 6 years ago.

RobertEG · ‎06-20-2009

The date that any collection must drop from your CR is clearly set forth in FCRA 605(c) as 7 1/2 years from the DOFD on the OC account. It has nothing to do with when the CA reported to the CRA.

FCRA 623(a)(5)(A) requires that the CA must report the DOFD to the CRA within 90-days of posting a CA to your CR, and FCRA 623(a)(5)(B) requires that this must match the DOFD reported by the OC.