Cap One CO sold to Cach LLC

huck1081 · ‎02-16-2015

I just contacted Cap One to make sure that ARS still was collecting on their behalf. They notified me that the CO account has been sold to Cach LLC on 02/12/2015. Cap one is still reporting the CO as of today. I have not been contacted by Cach LLC about the collection.

What is the best way to handle this? I have the cash to pay. Do I wait for them to contact me, or do I contact them and ask for a pay to not report? With Cap One having to remove the CO from my credit repor,t It would be ideal to get Cach LLC to not report im guessing.

Thanks ahead of time.

Starting: EQ 501 TU 514 EX 533 (12/2014)
Current: EQ 613 TU 625 EX 615 (4/1/2016) Goal: 640 and a new home loan

Anonymous · ‎02-16-2015

@huck1081 wrote:
I just contacted Cap One to make sure that ARS still was collecting on their behalf. They notified me that the CO account has been sold to Cach LLC on 02/12/2015. Cap one is still reporting the CO as of today. I have not been contacted by Cach LLC about the collection.

What is the best way to handle this? I have the cash to pay. Do I wait for them to contact me, or do I contact them and ask for a pay to not report? With Cap One having to remove the CO from my credit repor,t It would be ideal to get Cach LLC to not report im guessing.

Thanks ahead of time.

Yes, the longer you wait the more they tack on. Cap one is not obligated to remove the CO because they sold it. They are only required to report a $0 balance.

huck1081 · ‎02-16-2015

@Anonymous wrote:
@huck1081 wrote:
I just contacted Cap One to make sure that ARS still was collecting on their behalf. They notified me that the CO account has been sold to Cach LLC on 02/12/2015. Cap one is still reporting the CO as of today. I have not been contacted by Cach LLC about the collection.

What is the best way to handle this? I have the cash to pay. Do I wait for them to contact me, or do I contact them and ask for a pay to not report? With Cap One having to remove the CO from my credit repor,t It would be ideal to get Cach LLC to not report im guessing.

Thanks ahead of time.
Yes, the longer you wait the more they tack on. Cap one is not obligated to remove the CO because they sold it. They are only required to report a $0 balance.

Thanks for the advice, and info on how they may report it! I tried calling and of course their office is closed today due to the holiday...

Starting: EQ 501 TU 514 EX 533 (12/2014)
Current: EQ 613 TU 625 EX 615 (4/1/2016) Goal: 640 and a new home loan

Anonymous · ‎02-16-2015

They would simply report it as a collection. Most of the time they give a thirty day 'grace period' during which if its paid they don't report (how nice of them huh?</sarc>).