Capital one chargeoff

[iwant700fico]

I have a 980.00 chargeoff from capital one which is about 4 years old. This is mine but the amount is exaggerated to the tune of 500 dollars. I like to get this taken care of but heard stories if i actually paid them my score drops and I am in process of getting a car loan is the next 6 month. any advice is apperciated.

[llecs]

I bet $5 that if you paid it, then your score will go up. Why? Chances are it is still being factored into utilization. FICO could be reading that card as maxed out and it is dragging your overall utilitization to the pits. If you do pay it, be sure to PIF with one payment. Also inquire about CApOne's Credit Steps program. Don't know too much about it but it lets you get a new CC with the payment of the CO.

Then there is always the PFD option, but I don't think I ever heard of them accepting a PFD.

If you don't pay, then expect a possible lawsuit as they are sue happy.

[Anonymous]

A few years old and has not been sent to collections?

I would pay this-

The interest never stopped- and the fees are there for a few months until they closed the account.

The $ ammount is likley correct.