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jmf8756

Date Discrepancies

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I have credit cards I defaulted on and were charged off in 2015. Then we’re subsequently sold to collection agencies. The collection agencies are showing them first reported various dates in 2016 and that they won’t drop off until 2023. Shouldn’t they come off in 2022 since that’s when they were last delinquent?

 

 

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it is the first date of delinquency (without bringing current again) that matters.

That’s what I thought. Should I protest with the collection agency or the credit bureau?


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11 hours ago, jmf8756 said:


That’s what I thought. Should I protest with the collection agency or the credit bureau?


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What is your DOFD?

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Are you looking at your paper reports?

Online


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They can start reporting at the date of charge off, which normally occurs  six months after default.

I know they can report that. But can it stay on for 8-9 years past the DOFD?


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What is your DOFD?

The middle of 2015. I don’t remember the exact date. July or August for most of them.


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1 hour ago, jmf8756 said:


The middle of 2015. I don’t remember the exact date. July or August for most of them.


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Look at the OC TLs on your paper reports to determine the DOFD that's being reported.  Negative info generally reports for 7 years from DOFD.  

 

A TL from a CA will have a more recent reporting date that any of the activity on the OC TL since there was no CA involved when the account went sideways.  

 

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When a CA reports an account that's been referred to them by an OC to a CRA, they report the DOFD provided to them by the OC.  This typically ensures that the CA entry drops from your report at the appropriate time.

 

Note, however, online CRA reports often do not specifically disclose the DOFD (which is why you're advised to obtain a mailed report in order to ensure you see the full reported tradeline info).  In any case, if the online reporting shows a "remove date", it should be consistent with the DOFD for the account with the creditor.

 

By statute (FCRA), accounts reporting a final adverse status (typically charge-off or collection a/c's, even if subsequently PIF) may be retained on your report no later than 7y 6m from DOFD (as noted in another post, this is the first delinquency from which the account was never brought to a current status later; the time period correlates to 7y from when the account is deemed uncollectible for accounting practices and charged-off.

 

If a collection tradeline's "remove by" date isn't consistent with that of the original account reporting, you need to initiate CRA disputes.  It may be simply effective to just reference the DOFD from the original account tradeline and note the discrepancy.  

 

Because initial CRA dispute investigations are often shoddy, I typically advise trying to get the reporter (CA) to revise their reporting directly before going the CRA dispute route.  

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On 6/2/2019 at 6:26 AM, jmf8756 said:


Online

You REALLY should be getting paper reports from all four of the major bureaus.  Aside from the fact that online reports, even if viewed on the website of the bureau, tend not to be wholly accurate, there are procedural reasons why you want the paper trail.  This is ALSO why NO disputes should be undertaken using online fill-in-the-blank forms...

 

Hopefully you ALSO maintained the hard copies of the statements from the various creditors.  Having such documentation puts you a step ahead of any entity involved in collection activities since you then know going in what is and is not correct.

 

Reporting longevity is keyed to the date of first major delinquency.  Many people confuse a 'date opened' field and incorrectly assert re-aging when, in fact, what has occurred is that the furnisher has correctly reported the date that the matter was opened in THEIR office.  This field has nothing to do with the date of first major delinquency. 

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You REALLY should be getting paper reports from all four of the major bureaus.  Aside from the fact that online reports, even if viewed on the website of the bureau, tend not to be wholly accurate, there are procedural reasons why you want the paper trail.  This is ALSO why NO disputes should be undertaken using online fill-in-the-blank forms...
 
Hopefully you ALSO maintained the hard copies of the statements from the various creditors.  Having such documentation puts you a step ahead of any entity involved in collection activities since you then know going in what is and is not correct.
 
Reporting longevity is keyed to the date of first major delinquency.  Many people confuse a 'date opened' field and incorrectly assert re-aging when, in fact, what has occurred is that the furnisher has correctly reported the date that the matter was opened in THEIR office.  This field has nothing to do with the date of first major delinquency. 

Pardon my ignorance but I only know of Transunion, Equifax, and Experian. Who is the fourth? Is there a way to get a free paper copy or do I need to purchase them directly from the credit bureaus.

Thanks for your advice. Very helpful.


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