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DOLA VS Date 1st major deliquency reported??


cincityplayer
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Guest mikey

I have several that have no dates at all...and the ones that do, if any info, it only has maybe the opened date if that is even right....why dont they have any?

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looking at my equifax report there is one section that I'm not sure I understand. They have the DOLA which I understand, but there is also a date that the first major deliquency was reported??? What is this

That's a good question. As I see it, the DOLA is what starts the seven year clock. Equifax has the place for that date of first major delinquency, which should correspond to the seven year clock.

But beware. I had an arrogant clerk reage a 6 1/2 year account of $60 by changing that date. After informing the CEO I got an instant deletion for that little booboo.

Just watch it and make sure the account will time off at the same time by both dates. If not, dispute the accuracy of the dates.

.

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That DOLA and the date the first del were reported in my eyes should be the same date or 3 months after the DOLA, but as I look at it they have the DOLA as 1/2003 and the Date major del first reported 5/2005 there is something fishy going on here. According to the new FCRA ammendments the Creditor has to report the the CO within 90 days thats why I would think the date of 1st major deliquency reported would be, is the date the the CO was reported and in that case it should be 3 months after the DOLA correct???? so what the H%ll is going on.

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In regards to a delinquent acct, the FCRA mandates that the 7-yr reporting period begins with the DOFMD (Section 605©(1)).

Read up on the opinion letters on the FTC website, especially Harvey, Kosmerl, and Johnson, these all discuss DOFMD, CO etc. dates.

The CO date is not considered the DOFMD, it is actually the date of your first missed payment leading to the CO. This date should never change. According to the opinion letters, even if you missed 2 payments in a row then made a payment, then never paid again.....the DOFMD would be the first missed payment since you subsequent payment did not bring the account current.

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