Need advice from the mortgage forum pros

[Anonymous]

I asked in another forum but I think I should find out how the following is going to affect my mortgage scores.

I have a CO from Cap 1 that is 6 1/2 years old. It updates every single month. I contacted the executive office to try to settle and possibly delete the account since it is so old. They called me back asked a few questions and now I am waiting to hear what they have to offer. If they will not do a PFD what is the next best thing that I should ask for? Can they remove all the monthly updates from the last several years, do I ask for them to just report as paid as opposed to settled? It is already affecting my credit scores & at this point I cant afford to have my mortgage scores drop as I'm applying for pre approval sometime in May.

Any advice on what I should ask from them is appreciated.

[cmony787]

You may want to contact each of the CRA were this account is showing and ask for an Early Exclusion.

Transunion is known to give this upto 6 months in advance of normal timing. Equifax and Experian can range from 1-3 months early.

I see you want to get this done before May based on mortgage pre-approval. I'd still call and maybe you will get a sympathetic CS rep. All you lose is time spent on phone.

Good Luck!

[Anonymous]

I already called 2 cras and they said to call back as it is too soon for early exclusion.

[Anonymous]

Which ones did you call?  Transition will early exclude at 6 months but from what I have read you will need to ask for a supervisor.  Experian is 3 months.  Equifax is 1 month. 

I would love love to hear what capital one told you.  We have 1 capital one Charge off left.  That I need to settle or pay off.  

[Anonymous]

Its been about a week and a half since I spoke to Cap1 & have not heard a response yet. I'm going to call tomorrow. will post an update when I know anything.