student loan. default or DOFD?

[big easy trip]

guys, i have spent the last 2 months getting going in my credit repair. i have 3 deletions so far.

today i negtiated a PFD with pioneer recovery services for my student loans. however, i have edfinancial (OC) still reporting. i called them to find out when my 7 years had started. i never made a payment. my first payment was due 12/02. so i assumed my 7 yrs was from 12/02 plus 180days. they report last activity on my CR as 7/04. which is the day that sallie mae paid them for the amount of my student loan. so i jumped on the phone with the OC, this lady:twisted: tells me that as far as reporting goes my 7 yrs starts when sallia mae paid the loan. is this correct?

[sparky256DSL]

I would say no. When was the account first delinq? Transfering or selling shouldn't toll the reporting period. THere is an article on the FTC website that explains the 7 year reporting pretty well.

[willingtocope]

I guess I'd have to say....maybe. The DOFD is the date it went delinquent and was never brought current. If sallie mae pay them in full, then it was brought current 7/04. Assuming its marked "paid in full" and has a $0 balance, then the OC's TL shouldn't be hurting you very much.

[big easy trip]

ok guys, i got this directly from the ftc website. please tell me if you read this as i do (date i missed my first payment and not when the account was paid off by sallie mae)

Section 623(a)(5) of the FCRA concerns the duty of furnishers to provide a notice of the delinquency date of accounts to consumer reporting agencies. This section provides that persons who furnish "information to a consumer reporting agency regarding a delinquent account being placed for collection, charged to profit or loss, or subjected to any similar action shall . . . notify the agency of the month and year of the commencement of the delinquency that immediately preceded the action." The provision is clear that furnishers must provide to consumer reporting agencies the month and year of the commencement of the delinquency that immediately preceded placement for collection, charge to profit and loss, or similar action. Thus, under the plain language of the statute there is no allowance for the use of an alternate, later date; you must use the statutory date for reporting. Use of the "paid-to-date" as that term is used in your accounting system is not acceptable.(1)

The legislative history indicates that Congress included the requirement of Section 623(a)(5) so that there would be a uniform date certain by which all consumer reporting agencies would compute the seven-year reporting period for adverse items of information. It was the intent that the seven year reporting period begin with the commencement of the delinquency rather than any other date.(2)

[sunset]

Is this a federal student loan? I thought they never went away and the 7yr reporting pd didn't apply to them.

[big easy trip]

you have to read into my OP, i am in the process of rehabilitating my student loan. they never have to stop reporting if you NEVER pay them. the 7 yrs still applied to the origional loan that was paid off by the gov't. i am rehabbing with the govt atm. i never made a payment on the origional loan, they were paid off by the govt and are considering my 7 yrs from when they were paid by the govt. not from when they went past due. i see it as the 7 yrs from when the first payment was missed immediately preceeding the default.