Help needed to find DOFD

[Anonymous]

Hi All,

I could use some help in determining the  DOFD on an account.  On my Experian report, I have a collection account that Experian says will be reported until 12/2011. Counting back 7 1/2 years, I get that my DOFD would have been 6/2004.  Am I correct?  The SOL in my state is 6 years, so am I also correct that this debt is now out of SOL as of 6/2010?

My report says:

Date Opened: July 2005

Reported Since: June 2005

Last Reported: August 2005

Status Details: This account is scheduled to continue on record until Dec. 2011

Thanks for any help!

[chasmith]

The law says 7 1/2 years from DOFD, but a CRA may delete it after 7 to avoid risking a complaint that they reported it too long.  So assuming the DOFD was 6/2004 may not be safe, and the information you give is contradictory - the report also shows the account opened in July 2005.  But you say this is a collection account - is the the CA reporting?  In that case the underlying DOFD from the OC is still controlling and that could explain the date discrepancy.

Further, how are you going to prove it's out of SOL if sued?  Saying a CRA says it will be deleted in December 2011 is no better than creditors who show up with no paperwork. 

You presumably know what the original account is.  When do you think it went delinquent?  Do you still have any records?  Is the OC TL still on your report?

Why are you concerned about the SOL - is there activity going on that makes you believe you may be about to be sued? 

[MarineVietVet]

It looks like all those numbers are correct.

The full Equifax report you can get free at annualcreditreport.com will list the DOFD. Some will tell you not to count on dates listed on your credit reports but in my experience they are accurate. But to confirm that DOFD If you have your original records you can figure it from those and you can also try and call the OC (Original Creditor) and ask about it.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
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[llecs]

Based on the 7-yr rule, I say 12/2004. The 180 days doesn't apply to CAs.

[MarineVietVet]

Well we've narrowed it down to between 7& 7.5 years.

What's 6 months between friends? 

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[Anonymous]

Thank you all for your help!

Chasmith, in answer to your question, No, there has been no recent activity on this account.  I haven't heard from the CA since 2005.  But I have always had a little fear that they may sue me at any time.  I've done a lot of work on my credit over the last two years, and this is the only collection listed now (It was only ever reported on the Experian report).  This debt truly isn't mine, and I've wanted so badly to dispute it, but I don't have any paperwork to back me up. The OC was a sham business school that has since closed.  Anyway, I was trying to figure out if the debt was out of SOL, because I thought I could finally stop worrying about the CA suing me for this debt.

Thanks again to you all for taking the time to reply.

[RobertEG]

In making a determination of when a DOFD occurs, and is first posted to your CR, or is later updated, the determination is first made as to whether the account was in paid, good standing when the delinquency occurred.  If the account was in good standing, and a delinquency occurs, then the date of that delinquency is reported to the CRA as your FCRA Compliance Date/Date of First Delinquency.  If a subsequent delinquency occurs, and the account has not yet been returned to good standing the next month, then a second delinquency is reported, such as a 60-day late.  The prior DOFD remains unchanged.  If the account is then brought back into good standing, the prior reported DOFD still remains, but becomes meaningless because an account in good status wont be reported as a charge-off or referred for collection, and the only use of DOFD is determining the expiration of a CO or CA from credit reporting.

If, after bringing the account back into good standing,  a new delinquency occurs, a new DOFD is reported to the CRA, and the old DOFD is deleted.  And so on, and so on.  Your DOFD is the first date of delinquency in the most recent chain of delinquencies.

Having said all of that, you should be able, based on your OC account records, or at least be able to infer from your payment history profile in your CR, your legal DOFD.  I would never advise acceptance of your DOFD based on a projected drop off date in your CR, and then backing up 7 ½ years from that date.  First of all, that presumes prior, correct reporting by the OC.  Secondlly, the drop off date as defined in FCRA 605(c) is 7 years, but section 605(c) permits the CRAs to retain a CO or CA for up to an additional, max. of 180 days from that 7 years, thus bringing about the absolute statutory limit of 7 ½ years.  But clearly, they don’t have to avail themselves of that additional 180 days.  They can simply delete at 7 years.  But you cant compel them to.  You probably dont know iif their projected date is calcualted from 7 or 7 1/2 years from the reported DOFD.

DOFD is used only for determination of drop off dates in credit reporting.  You state SOL laws may be constructed in such a way that your DOFD could determine the date of running of your SOL, but that is by no means universal.  Some may be reset based on later delinquencies, and others based on later payments, or even offers to pay.  Never assume that your DOFD determines your SOL.

[RobertEG]

Happy. it might help to clarify what SOL is.  The debt never expires. Expiration of SOL is not expiration of debt. 

Under most state SOL laws (Texas being the only excpetion I am aware of), expiration of SOL does not bar future legal action.  SOL is a affirmative defense that, if you show up in court and prove it, requires dismissal of the suit without any need to consider its merits.  So you still may have to prove the relevant dates that control your SOL. DOFD may not be the pertinent date.

If the threat of possible legal action is your main concern, then dig out a copy of your state SOL statute on debt collection, and read it carefully.

[chasmith]

Robert you said what I was trying to much more completely.