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Dear old Cap1

Valued Contributor

Dear old Cap1

So I have been rebuilding recently and I have this Cap1 CO that I have been trying to pay. When I call them, they tell me that it's been handed over to a CA and when I call the CA they say it's been sold to some one else ( so I amdisputing the first CA since they are not the responsible CA ) so I call CA #2 and are giving me the runaround saw well. 

 

Any advice? I'm trying really hard to pay this in good faith.

 

Thanks in advance.

Scores: about 700 across the board
Total CL: $275k
Message 1 of 10
9 REPLIES
Mega Contributor

Re: Dear old Cap1

How old is the CA?



EQ FICO 548 3/3/16
Message 2 of 10
Valued Contributor

Re: Dear old Cap1

The Cap1 account is just over 5yrs old.

 

Scores: about 700 across the board
Total CL: $275k
Message 3 of 10
Mega Contributor

Re: Dear old Cap1

Not sure I'd want to pay that so close to the 7yr drop off.



EQ FICO 548 3/3/16
Message 4 of 10
Established Contributor

Re: Dear old Cap1

Leave it alone IMHO.. Unless you can convince a CA to pay for delete, it will be on your credit report for another seven years. I would let it be unless you just want to feel good about paying off your debts.


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Message 5 of 10
Valued Contributor

Re: Dear old Cap1

Thanks Jon,

 

Its hard to leave it alone. That balance is killing my utilization. I could always pay it and try to GW it down the road. I just don't know.

Scores: about 700 across the board
Total CL: $275k
Message 6 of 10
Mega Contributor

Re: Dear old Cap1


madmann26 wrote:

Thanks Jon,

 

Its hard to leave it alone. That balance is killing my utilization. I could always pay it and try to GW it down the road. I just don't know.


GW with Cap1 is very hard. Is it a big balance that you owe?

 




EQ FICO 548 3/3/16
Message 7 of 10
Valued Contributor

Re: Dear old Cap1

$591 I believe.

Scores: about 700 across the board
Total CL: $275k
Message 8 of 10
Frequent Contributor

Re: Dear old Cap1

You're almost at 7 years...Dunno if i would pay it off

 

It will help your score a bit if paid. I paid 2 charge offs from CAP1 and successfully got one deleted last month praise god. It went bad in 07 and my date to drop off is sometime in 2014 i know that much. I paid it in 09 and it did not start the clock again. Plus, I was trying for government jobs and the reserves in 09 and figured its better to pay it off and get a clearance than have debt sittin there and be denied a clearance.


Starting Score: 601
Current Score: 670
Goal Score: 700


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Message 9 of 10
Mega Contributor

Re: Dear old Cap1


madmann26 wrote:

$591 I believe.


Eh, it really depends on if you want to roll the dice with them. You could send them a PFD letter, but that might make them want to sue to get the money. You could pay it and try for GW but I dont think you'll have much luck with it.

 

IMO I would leave it be and let it fall off.

 




EQ FICO 548 3/3/16
Message 10 of 10