adverse credit accounts length of reporting

Date: Thu, 04/09/2009 - 21:29

Submitted by anonymous
on Thu, 04/09/2009 - 21:29

Posts: 202330 Credits: [Donate]

Total Replies: 3

I know that adverse accoutns generally stay on credit report for approximately 7 years. From what date does that start? First late payment, 60,90 days delinquent ect. Also, if you have an account with a few late pays here and there...then it goes to collections..then charge off. When does the 7 year report time start? First delinquency, charge off date, or do they make it up!!

The reporting in both the cases usually start after 6 months fro

The reporting in both the cases usually start after 6 months from the date of your last delinquency towards the debt.

lrhall41

Submitted by jstn.credit on Sat, 04/11/2009 - 06:03

( Posts: 139 | Credits: )

Wrong! Reporting starts with the Date of First Default (DOFD).

Wrong! Reporting starts with the Date of First Default (DOFD). That's the date that you missed your first payment and never again brought the account to a current status. From there, it can be reported for 7 years + 180 days from that date. The only way that date can change is if you bring the account back to a current status and then default again.

lrhall41

Submitted by NASCAR_Devil on Sat, 04/11/2009 - 07:48

( Posts: 4671 | Credits: )

Agreed. Please follow NCD advise. If the account is charged off,

Agreed. Please follow NCD advise. If the account is charged off, then it is reported from the date you were last unpaid deliquency, not the charge off date. Everything after that period is just historical information that can harm your FICO score substantially :(

lrhall41

Submitted by Cool_Abyss on Sat, 04/11/2009 - 12:55

( Posts: 2936 | Credits: )