Transunion FICO Scoring - DOLA?

[krielly]

I've read a lot on making sure your DOFD is correct, as this is a factor in your credit score.

I just got my Transunion FICO score and report from this site. Most all of the lenders I have spoken to in my area use Transunion exclusively.

The transunion report I received does not have a DOFD. I only see a DOLA. Is Transunion using THAT date in calculations for how recent my delinquencies are?

We filed Chapt 13 back in 10/2005, yet some of the derog accounts are reporting recent DOLAs.

Any help would be appreciated. Thank you!

Karen

[MarineVietVet]

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@krielly wrote:

I've read a lot on making sure your DOFD is correct, as this is a factor in your credit score.

I just got my Transunion FICO score and report from this site. Most all of the lenders I have spoken to in my area use Transunion exclusively.

The transunion report I received does not have a DOFD. I only see a DOLA. Is Transunion using THAT date in calculations for how recent my delinquencies are?

We filed Chapt 13 back in 10/2005, yet some of the derog accounts are reporting recent DOLAs.

Any help would be appreciated. Thank you!

Karen

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DOFD is the only date that can be used for determining drop off dates. TU and EX don't list the DOFD but the free Equifax report you can get from annualcreditreport.com or the one you can buy from the EQ website does.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
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Whats In Your FICO Score

[Anonymous]

I actually just called EX and TU to find out when the DOFD were on some of my accounts. It was the most painless call I have ever made to them..

[MarineVietVet]

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@Anonymous wrote:
I actually just called EX and TU to find out when the DOFD were on some of my accounts. It was the most painless call I have ever made to them..

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Yes you can call them but the DOFD is not on the written CR's from TU and EX.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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

[RobertEG]

While DOFD may not be specifically identified as such in your CR, it is there if you know what to look for. Reported delinquencies on each OC account are usually shown, and except for a few rare instances, such as an OC not having done regular, monthly reporting, allows you to identify your DOFD.

Lay out the payment history data for each OC account.  The first time an OC reports a 30-day delinquency to your credit file, this becomes your DOFD.   That DOFD remains as your DOFD until two things subsequently occur.  One, you bring the account back into paid, good standing, and two, you then have a new chain of delinquences.  The first date in that most recent chain of delinquencies prior to a CO of CA on the account will be your DOFD.   

[krielly]

In case it helps anyone else.....After posting this message, I ran my free Transunion Report on Annual Credit Report.com. While there is no DOFD, this report does tell you the estimated date the item will be removed, which is approx 7 years from the DOFD............

K

[RobertEG]

I would NEVER rely on a DOFD reported in my credit report, or equivilantly, a projected drop off date based on some unspecified DOFD.

Reporting of timely and accurate DOFDs to the CRAs is notoriously poor.

Your account records are your legal proof of DOFD, and not what your credit file says.

DOFD is self-reported by the original creditor, or at least is required to be, under the FCRA.  Errrors are thus rampant.  Not always intentional attempts to reset your DOFD, but intentional or not, they occur every day.

DOFD reporting works like this.  I think you will see the obvious flaws.

When you first open an account with an OC, their first reporting should have included a reported entry to field code 25 of the base segment of your credit file.  This is called the "FCRA Compliance/Date of First Delinquency."  That is what the CRA uses to calculate subsequent drop off of any subseqent reporting of any CO or CA that is later posted.

The OC first reports a code of 0.  Obviously  a new account, and not possibly yet delinquent.

So time goes by.  Then, you have a first delinquency on payment of the OC account.  The OC was then requried, under their reporting guidelines, to update  your DOFD in field code 25 to show a date of first delinquency.  That is a "sticky date" that remains as your DOFD until updated by the OC.  The OC can only update this DOFD if two things occur.  First, you bring the account back into satisfactory, paid status, and then, a new first delinquency occurs.  That new update overwrites the prior recorded DOFD.

But a careless or uninformed OC or CRA clerk may reprot or receive an update to your DOFD that is NOT related to a date of first delinqquency.  The most common occurances are reporting a DOLA on the account as an update to the DOFD.  Totally improper, yet done every day.

If you choose to accept what any credit report tells you is your DOFD, or by inference, your projected drop off date of a CO or CA after 7 1/2 years from what you know to be the DOFD, then you are relying on known, and pervasive misreporting with the CRAs.