Hi, I hope someone can help me with this. I'm trying to make sure I'm correct as to when the Date of Last Activity would be for this. I believe I've read postings that indicate the DOLA is 180 days after the last delinquency and that this was a change to existing law, such change being enacted in Dec 1997 if I am not mistaken. Here are the specifics of the situation I'm dealing with: A student loan installment chargeoff was reported to the CRA in Feb 97. (This was a private loan directly through the school, secured by promissory note.) It was 12 payments behind in Feb 97 and was called due. The last previous payment was made 4 1/2 months earlier on October 1, 1996. So, when did the 180 day clock start, the end of which would be the DOLA? On Oct 1, 1996? February 1997? Or does the last delinquency + 180 day rule even apply since this took place before Dec 1997? If anyone can help out with this, I would be very appreciative. nquisitive
Do a search for a thread called "7 Year Clock" I believe the information you're looking for can be found there. I had a similar situation with a student loan. The loan was charged off in 1996, but first went delinquent in 1/1995. My CR showed a 30 day late in 1/1995.However the CRA said the account would be reporting until XX/2003 because that was 7 years from the date of charge off. I pointed out to the CRA that they had violated the law and that the 7 year clock started from the date of first delinquency ie 1/1995 and it's 1/2002 the account should be gone. They removed the accounts. EdG
