Credit Report
Date: Mon, 06/27/2011 - 03:54
It starts from the date of first default on the account.
It starts from the date of first default on the account.
The period does not relate to the delinquency of the account, it
The period does not relate to the delinquency of the account, it relates to how long a collection reported on the debt can remain in your credit report.
FCRA 605(c) fixes one date-certain for exclusion of either a collection or a charge-off from your CR. It is 7 years plus 180-days from the date of first delinquency on the OC account. DOFD is the date of your first delinquency in the most recent chain of delinquencies prior to the charge-off or collection. It may or may not be the very first delinquency on the OC account. Any first delinquency on an account in good standing sets a DOFD, which remains the relevant DOFD until such time as the account is brought back into paid, good-standing, and then a new DOFD occurs.
No date other than the DOFD has any relevance to the ultimate date of exclusion of a charge-off or collection from your credit report.
Expiration of that date only excludes the charge-off or collection. The OC account, and any other delinquencies reported, remain unless they are otherwise separtely excluded.