@scb219 wrote:Hi everyone!
I'm seeking some advice regarding a charge off. My credit card with Cap One was charged off almost 2 years ago, with a balance of $3,900. I made some foolish decisions with my money while being a student. Now that I am working, I am able to pay the balance in full. It is not in collections (yet). Cap One still reports this each month to the bureaus as unpaid. My question is, which is the best line of communication for me to take with them? Do you know if I am able to call customer service and try and pay the lump sum by phone? I am assuming that once it is paid, that they have to report the balance will be zero. I have read that they will not delete a charge off, and I am prepared for that. I just want to pay this (not settle), and show as a paid charge off so it is less harmful to me until it falls off my reports. Thank you for reading and the advice!
You should be able to call customer service and they will get you to recovery to make the arrangements and yes they will update to 0 and should stop monthly updating per CRA rules. You can try to get them to remove it with a GW letter after its been paid for awhile but the best shot is in the final year of reporting.
