INTERPRETING THE INFORMATION ON MY CREDIT REPORTS

L93065 · 03-25-2007, 05:46 PM

Hello,

Since the three CRAs report information differently, I was wondering if there was a thread that will explain and equate the differences, specifically the following:

Date of last payment
Date of last activity
Date of Maj Del 1st reported

Thank you for your assistance.

roybean · 03-25-2007, 05:54 PM

Look in the AOC bunker and see TowerRat's "How to read your credit report."

L93065 · 03-25-2007, 06:14 PM

Thanks for that direction....very informative. However, I am still unclear about Experian and the terms they use: DATE OF STATUS and LAST REPORTED date.

Appreciate any help.

Pale Rider · 03-25-2007, 06:51 PM

I would think that the majority of the time the Status Date and Last Reported date would be the same. Last Reported date would always be more recent if they are different.

Status Date is the date the status was reported. Read it like this.

"As of 1/2004 this account was a charge off."
"As of 4/2003 this account was 60 days late."
"As of 6/2005 Bankruptcy 7 was discharged."

If the status has changed since they time, you can dispute and they have an obligation to update the information or delete.

Last Reported date is simply the last time that the data furnisher sent an update to the CRA.

L93065 · 03-25-2007, 08:10 PM

Thanks for your help. I find Experian to be the most convuluted of all the CRs. In most cases the Date of Status and Last Reported date to be the same, but on a few they were way different. It appears that most of the time the difference is 90 days. Isn't there some time line that requires the OC to report DOFD to a CA? Thats what I think this is....probably way off base.....

Pale Rider · 03-25-2007, 08:34 PM

They must report the DOFD to the CRA within 90 days of furnishing data concerning collections or charge offs.

623 (a) (5)

Duty to Provide Notice of Delinquency of Accounts

(A) In general. A person who furnishes 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, not later than 90
days after furnishing the information, notify the agency of the date of
delinquency on the account, which shall be the month and year of the
commencement of the delinquency on the account that immediately
preceded the action.