The Date of First Delinquency (DOFD) Calculator helps individuals determine when a missed payment first led to a delinquent status on a credit account. This date is important for credit reporting, as it affects how long negative information remains on a credit report and when delinquent accounts are removed from credit records.
Credit bureaus and financial institutions use the DOFD to calculate the charge-off date, determine credit report expiration periods, and assess creditworthiness. Knowing this date helps consumers understand when negative records will be removed and plan their financial recovery.
Formula for Date Of First Delinquency Calculator
The DOFD is the date when an account first became delinquent and was never brought current. Credit bureaus use this date to determine when the delinquency will be remove from a credit report.
1. Credit Bureau Reporting Rule (30/60/90-Day Delinquency)
Formula:
DOFD = Date of First Missed Payment (that was never caught up)
Where:
- If payments were later brought current, the delinquency does not count.
- If the account remains unpaid, the DOFD stays as the first missed payment date.
2. Charge-Off Date Calculation
Credit card accounts that remain unpaid for 180 days (6 months) after DOFD are charged off.
Formula:
Charge-Off Date = DOFD + 180 Days
3. Credit Reporting Expiration Date
Negative items stay on credit reports for 7 years from the DOFD.
Formula:
Removal Date from Credit Report = DOFD + 7 Years
Common DOFD Scenarios
Below is a table showing common DOFD calculations for different scenarios:
| Event | Date | Next Action |
|---|---|---|
| First Missed Payment | March 1, 2020 | Start of DOFD if not brought current |
| 30-Day Late Status | April 1, 2020 | Reported as 30-day delinquent |
| 60-Day Late Status | May 1, 2020 | Reported as 60-day delinquent |
| Charge-Off Date | September 1, 2020 | Account is charged off after 180 days |
| Removal from Credit Report | March 1, 2027 | 7 years from DOFD |
This table illustrates how DOFD impacts credit reporting timelines.
Example of Date Of First Delinquency Calculator
Scenario: Determining the DOFD for a Credit Card
A consumer missed a payment on April 10, 2019, and never brought the account current.
Using the formula:
- DOFD = April 10, 2019
- Charge-Off Date = October 7, 2019 (180 days after DOFD)
- Credit Report Removal Date = April 10, 2026 (7 years from DOFD)
This means that April 10, 2026, is when the delinquency will no longer appear on credit reports.
Most Common FAQs
The DOFD is crucial for credit reporting because it determines how long negative information stays on credit reports. It affects credit scores, loan approvals, and financial recovery timelines.
No, once a DOFD is recorded, it cannot be reset by making payments, closing the account, or negotiating settlements. However, if an error is made in reporting, consumers can dispute it with credit bureaus.
Delinquencies cannot be remove before the 7-year period, but negotiating with creditors, settling debts, or requesting goodwill deletions may help. Keeping future payments on time also reduces the impact of past delinquencies.