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HELP! Need confirmation of fall off date. Am I correct?


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I apologize in advance but I need clarity. I feel like I read the same statements over and over, searched threads over and over and I want to make sure I have this right because this always confuses me. I've accomplished a lot since joining this site, but this is one thing I can't understand. Maybe I'm simply making this harder than what it really is.

 

I'm trying to figure out when my Capital One CO will fall off my credit report.

 

 

Date Opened: 03/2007

 

Charge off as of Jan 2008

150 days past due as of Dec 2007

120 days past due as of Nov 2007
90 days past due as of Oct 2007
60 days past due as of Sep 2007
30 days past due as of Aug 2007

 

So, if the clock starts ticking 180 days after DofFD then it started Jan 2008, is this correct? Another thing that confuses me is do I add 7.5 years as stated in the FCRA or do I go by the Statute of Limitations for the state of GA (which is different)?

 

 

 

Thank for your help guys...try not to chew me out too bad :unsure:

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The 7.5 years in the FRCA is from DoFD. In your case, your card was charged off after 180 days, so 7.5 years from DoFD = 7 years from CO.

 

The SOL is the last date you can be sued for the debt, which is completely separate from how long the debt can be reported.

 

 

See what I mean? I'm thinking too hard about this I completely overlooked that fact (in regards to the SOL). Thank you!

Although everyone cites 7.5 years, you can usually dispute as obsolete between the 6.5-7 year mark and they will be deleted.

 

Dispute online as obsolete today. Try again next month if it doesn't drop off.

 

 

I didn't know that... I definitely will. Thanks!

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Yes, you are over thinking this. DOFD: Date of First Delinquency. FIRST. Delinquency = late. Your first late was Aug 2007. Add 7.5 yrs and that is when the FCRA says to delete. The CRAs are tired of being fined and sued, blah blah, so they will delete at 7 yrs after DOFD. Your acct should go bye bye this August for EQ and TU and Sep for EX (they delete at EOM).

 

Since you are 3 months away, disputing now as obsolete might get you an early removal.

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Yes, you are over thinking this. DOFD: Date of First Delinquency. FIRST. Delinquency = late. Your first late was Aug 2007. Add 7.5 yrs and that is when the FCRA says to delete. The CRAs are tired of being fined and sued, blah blah, so they will delete at 6.5-7 yrs after DOFD. Your acct should go bye bye this August for EQ and TU and Sep for EX (they delete at EOM).

 

Since you are 3 months away, disputing now as obsolete might get you an early removal.

Fixed.

 

They start deleting before the 7 year mark, not at the 7 year mark. TU regularly deletes at the 6.5 year mark.

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Yes, you are over thinking this. DOFD: Date of First Delinquency. FIRST. Delinquency = late. Your first late was Aug 2007. Add 7.5 yrs and that is when the FCRA says to delete. The CRAs are tired of being fined and sued, blah blah, so they will delete at 6.5-7 yrs after DOFD. Your acct should go bye bye this August for EQ and TU and Sep for EX (they delete at EOM).

 

Since you are 3 months away, disputing now as obsolete might get you an early removal.

Fixed.

 

They start deleting before the 7 year mark, not at the 7 year mark. TU regularly deletes at the 6.5 year mark.

 

Good to know - thanks.

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