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#2224312 - 10/24/19 02:02 PM Reaffirmation & DOFD
MainStreeter Offline
Member
Joined: Jun 2014
Posts: 58
Just want to confirm... if a Borrower files bankruptcy while their account is current we populate their DOFD as the filing date. In the event they reaffirm we still do not touch this DOFD correct? It seems like we would want to remove this date as they're paying and give them the benefit of the positive reporting for beyond 7 years but I don't see anything that supports that. So they reaffirm and they only get the benefit of the reaffirmation payments on their report for the next 7 years correct?

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#2224545 - 10/28/19 05:06 PM Re: Reaffirmation & DOFD MainStreeter
Carolina Blue Offline
Platinum Poster
Carolina Blue
Joined: Jul 2005
Posts: 960
Lost in a regulatory fog
That's my understanding. When they reaffirm you change the CII to R and then report everything else as you would a normal loan. So only if they become past due after the reaffirmation will you update the date of first delinquency.

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#2229090 - 01/15/20 05:39 PM Re: Reaffirmation & DOFD MainStreeter
MainStreeter Offline
Member
Joined: Jun 2014
Posts: 58
Bringing this up again... we have an account that's at the 7 year timeline to purge... DOFD was at the time of their bankruptcy filing. One borrower was discharged, the other reaffirmed. I'm hoping to confirm that the reaffirmation does not affect that initial DOFD- this tradeline should be purged for both borrowers, regardless of their status in BK?

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