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Valued Contributor
Posts: 1,195
Registered: ‎12-13-2007
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Any good Cap1 GW Contacts?

I have a 6 3/4 year old Cap1 Charge Off from a Corporate CC I was an officer on an a defunct company.  Not in collections, and so far communications have been pretty ok (since I found it on my CC and asked for info).
 
It was a $334 charge off and of course interest is like $1k.
 
I am wondering if I write and ask if I pay the ChargeOff amount, if they will just list it as Paid in Full and get the CO and balance off my report.  Seems like worth a shot since it drops off in September and out of SOL.
 
Does anyone have any good/cooperative direct contacts? I found one on here for IC Systems that worked like a charm.
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Regular Contributor
Posts: 134
Registered: ‎05-05-2008
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Re: Any good Cap1 GW Contacts?

It will drop off your report at all CRA's at 7 year mark just around the corner. Correction it should and if it doesn't you can inform the CRA's it is supposed to be gone. Actually I think technically it is 7 years +180 days from DOFD.

The SOL you refer to in most states is 3 years check yours. And that only applies to litigation i.e. you cannot be sued to pay like a judgment levied against you.

Also any collection agency that attempts to collect can be stopped by sending DV letter.
FICO TU 730 EQ 731 EX 706
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Any good Cap1 GW Contacts?

[ Edited ]


shreco wrote:
It will drop off your report at all CRA's at 7 year mark just around the corner. Correction it should and if it doesn't you can inform the CRA's it is supposed to be gone. Actually I think technically it is 7 years +180 days from DOFD.

The SOL you refer to in most states is 3 years check yours. And that only applies to litigation i.e. you cannot be sued to pay like a judgment levied against you.

Also any collection agency that attempts to collect can be stopped by sending DV letter.

I think what nyccc2 is trying to do is have the account re-classified so as to read as a good account and stay on for another 3 yrs. His score could drop if it falls off due to history loss. Would all depend on what his avg. history looks like.
 
Edit to add.....I think it would be a cold day in hell before CapOne changes that account. DW has a CO that changed to $0 balance a couple months ago. Before we had sent many PFDs with no result. Even after, we still sent PFDs for the previous balance listed. Free money for them (we never paid to get the balance to $0).


Message Edited by llecs on 05-09-2008 08:50 AM
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: Any good Cap1 GW Contacts?

My understanding is that the baddie will "fall off" (stop reporting) after 7 - 7.5 years, but the account itself will remain, now clean for the full 10 years after the closing date.

So baddie notation goes away, but account remains.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Established Member
Posts: 22
Registered: ‎06-26-2007
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Re: Any good Cap1 GW Contacts?

bump... looking for contacts also
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