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My husband has a Capital One account that went to collections, but on his CR the collection account says “Closed”, but still has a past due balance of $1,381.00 and on the original account the status shows “Unknown” with $0 amount past due. My question is since the collection account says “Closed” should I still try a PFD with Capital One? Will it help me scores if so or should I just leave it alone?
@Anonymous wrote:My husband has a Capital One account that went to collections, but on his CR the collection account says “Closed”, but still has a past due balance of $1,381.00 and on the original account the status shows “Unknown” with $0 amount past due. My question is since the collection account says “Closed” should I still try a PFD with Capital One? Will it help me scores if so or should I just leave it alone?
It looks like Cap One sold the account to the CA.
Since the sold it your only option would be to deal with the CA.
Paying a CA for a collections will not help your score at all.
What is the DoFD of the account and your states SOL?
It looks like Cap One sold the account to the CA.
Since the sold it your only option would be to deal with the CA.
Even if the account status says "Closed"? Do you think it's affecting his scores at all? He has 1 collection, 1 30 day late on car loan, and BK from 2003.
Paying a CA for a collections will not help your score at all.
What is the DoFD of the account and your states SOL?
DOFD is not listed on EX, but I believe it is around 2007 or 2008
SOL = 7 yrs
Thanks guiness, you are always so helpful!
@Anonymous wrote:It looks like Cap One sold the account to the CA.
Since the sold it your only option would be to deal with the CA.
Even if the account status says "Closed"? Do you think it's affecting his scores at all? He has 1 collection, 1 30 day late on car loan, and BK from 2003.
No, a CA account saying Closed does not mean anything. If it were the OC account and there was a balance, then yes it would hurt his score.
Paying a CA for a collections will not help your score at all.
What is the DoFD of the account and your states SOL?
DOFD is not listed on EX, but I believe it is around 2007 or 2008
SOL = 7 yrs
What is your state? I think you might be confusing SOL (state law - time frame a creditor can sue and win) with CRTP (Credit Reporting Time Period) - Federal law, can't be changed and based on the DoFD.
EX should show a "This will remain on record until" somewhere on the report.
Thanks guiness, you are always so helpful! No problem.
What is the DoFD of the account and your states SOL?DOFD is not listed on EX, but I believe it is around 2007 or 2008
SOL = 7 yrs
What is your state? IN
I think you might be confusing SOL (state law - time frame a creditor can sue and win) with CRTP (Credit Reporting Time Period) - Federal law, can't be changed and based on the DoFD.
EX should show a "This will remain on record until" somewhere on the report. I pulled score/report from EX website. Here is the info on the Cap One account
OC
Account Name CAP ONE Account # xxxxxxxxxxxxx Account Type Credit Card - Revolving Terms Balance Date Opened 12/1/2004
Account Status Closed Mo. Payment Close Account Details Past Due Payment Status Account transferred to another office High Balance Limit $300.00 Terms Revolving Comments Transferred to another lender or claim purchased CA
Account Name NCO FIN/22 Account # xxxxxxxxxxx Account Type Unknown - Credit Extension, Review, Or Collection Balance $1,395.00 Date Opened 3/1/2008
Account Status Closed Mo. Payment Close Account Details Past Due $1,395.00 Payment Status Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department High Balance Limit Terms 1 Month Comments
Well, Cap One sold the account to NCO.
You can click on the dispute button for this account on the EX site. It will bring up an entirely different CR. That one should have the DoFD. They may use DOLA. At any rate find one of those two dates or "This will remain on file until xxxx". Once you find that close out of the report.
Don't actually dispute it.
Your SOL for an open account is 6 years.