The purpose of the 1st Date of Delinquency on the loan record is for the credit bureau to determine how long to keep reporting the delinquent loan.  The statutory limit is 7 years.  CU*Answers does not receive this field from most data processors.  When CU*Answers runs the first Beginning- and End-of-Day, the current date (usually conversion date) is put into this field. Since it is not the true 1st Date of Delinquency, the credit bureaus will not accept our reporting file.  The credit union has two options to determine how this date should be handled:

          1.  The credit union can authorize the bureaus to use the loan Open Date for 1st Date of Delinquency.

          2.  The credit union staff can manually update this field in Account Maintenance.

Once a decision is made, the credit union should forward an email to the Conversion Coordinator.  If Option 1 is selected, the email must contain verbiage authorizing the credit bureaus to flood Open Date into the 1st Date of Delinquency field.