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Got a capital one credit card in 2005, credit limit of $1500. Interest took it over the limit in 2008 which was the last time I made any payment on it (myFICO report shows date of last activity june 2008 and largest past balance of $2224). I think it must have been charged off shortly after that and I remember for a while a CA was trying to collect it. In I think 2010 I got notice that Solomon & Solomon was taking me to court (in MA) for capital one. I didn't show up or communicate with them and I swear later on I got something in the mail about a default judgment, but I didn't keep it, and now there is no record of a judgment on any of my credit reports. It shows as a Capital One charge-off with a balance of $4091 - this appears to increasing $30 every month. I guess even though it is a charge off it is factoring into my score as revolving credit (myFICO says my use of revolving credit is 184% of my limit which is 4091/2224). I now have the money to pay it full, but my questions are:
- why have there been no further attempts to collect (since i received correspondence re: court) ?
- Is it possible/likely for a default judgment to slip through the cracks and not make it to the credit report?
- If I contact capital one to try to settle this, either for the full amount they say I owe or some portion, could that result in the judgment subsequently appearing on my report?
- If there is a judgment floating around out there would it be smarter to just pay it in full rather than trying to negotiate a settlement?
thanks
current FICO score: 607
Welcome!
It's possible the reason they aren't collecting is because you are off their radar. Or maybe if for sure sued, the SOL on collecting a judgment would have kicked in and they buys them time. Who knows.
Contacting the OC or CA likely won't make the judgment appear because neither would report the judgment.
It's your call if you want to PIF or offer a settlement. Just make sure you have 100% saved before offering a settlement just in case they reject a settlement...and get it all in writing.