Valued Contributor
Posts: 1,195
Registered: ‎12-13-2007

Cap1 is silly...

I had a 7 yo Cap1 CO from a corporate CC I was a 'joint' signer on.

I asked my lawyer to contact them and offer a settlement in the amount of the original charge-off ($336), or, if necessary, the additional interest/fees (+ $1,500) to get the item off my report early.

They said no, and no we won't removed (1-3 months early!) if you pay in full plus interest.

So what is motivation to pay? Take a huge hit in scores? Pay 6 years of interest and penalties just to get a 7 year old CO updated to recent?

I'm trying to work with them here but...
MyFico Scores (TU/Exp/Efx):

11/02/08 696 / 695/ 737- 5/4/08: 667 / 703 / 668 - 11/07 Low 500s All (Fako)
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007

Re: Cap1 is silly...

Let'em eat it.
Frequent Contributor
Posts: 275
Registered: ‎10-09-2007

Re: Cap1 is silly...

Dont do nothing if they not trying to work with you. After i disputed them on my report they started adding interest and they got all the way to 3000 dollars when original balance was like 750. But i just disputed them off my transunion they were suppose to be off in sept 09 and they were still on it just got them deleted. Also they off equifax and experian suppose to drop off in february 10. The funny thing they sent me a invitation for a card.
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007

Re: Cap1 is silly...

Just wanted to point out that this thread is almost sixteen months old...
* 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
Frequent Contributor
Posts: 449
Registered: ‎02-21-2009

Re: Cap1 is silly...

smallfry wrote:
Let'em eat it.




TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Regular Contributor
Posts: 130
Registered: ‎08-04-2007

Re: Cap1 is silly...

Yeah they just sent me a reminder that     -  $0.00 is due  xx/xx/xxxx   I was like...............rriiiight. lol
Back in the 500s, dont ask
Posts: 14,914
Registered: ‎07-14-2009

Re: Cap1 is silly...

haulingthescoreup wrote:
Just wanted to point out that this thread is almost sixteen months old...

Thanks for the reminder to check dates. I'll catch myself reading very old posts and feeling VERY silly.

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