Capital One - Portfolio Recovery

[katinOR]

Greetings! Hoping for advice regarding a collections on all of my accounts. I had a capital one card and my report (TU) says last payment made 10/2009. Pay status: current: paid or paying as agreed. Under comments it states "credit card lost or stolen: closed" balance is zero.

I remember this card. It was stolen during a trip. I paid it off and closed the card. End of story or so I thought.

Pulled my credit report for the first time in years and saw that as well as two accounts from portfolio for capital one.

One shows places for debt 06/11 with 962.00 balance and the date for falling off is 11/17

The other shows it was placed for collection 2/24 with a balance of 569.00

Before I found this forum 😆 I called PR and asked how I can have a clean closed account and two collections. The woman became somewhat aggressive and told me if I could pay 398.00 she will settle the account. I paid it and then she said that the 569 dollar account was settled but the 962.00 account is in the legal department because I'm being sued.

Obviously this makes no sense.

I called TU today and the person I spoke with said he would file a dispute because my original report indicates it should have never went to collections. However I am still confused why accounts show one card and PR show two? Since 10/09 was when the card was closed, shouldn't it fall off in October? There is no original date on the PR accounts, just when they opened.

Advice? Thank you in advance!

[katinOR]

I should add that this is on all three reports, I was just referencing TU because that's who I spoke to.

If it matters I was approved for Credit One platinum this morning which is interesting!

[kevinlee28]

file a complaint against them with the CFPB and the BBB

[gdale6]

A lost/stolen account that is closed with 0 balance in good standing will remain on file up to 10 years post account closure. If this was the result of fraudulent charges then it should never have been sent to collections. If you are being sued you do need to appear to present your case to the judge or a default judgment will be entered. At this point I would do one of 2 things. Either hire legal counsel to assist you with this or file  complaint with the CFPB with remedy being all legal actions against you to be dropped along with the derog info to be deleted from your credit file. I would not file a complaint with the BBB on this they have no enforcement ability whereas he CFPB does.

http://www.consumerfinance.gov/complaint/

[katinOR]

Thank you!

Since this was listed as a dispute yesterday with Trans Union should I wait for the outcome of that to file the complaint?

Thank you!

[RobertEG]

Yes,you should  file a dispute first, and give the furnisher and CRA the opportunity to investigate the asserted inaccuracy and either correct or verifiy before filing a complaint with the CFPB.

The purpose of the dispute process is to present an asserted inaccuracy and provide the opportunity for its correction prior to involving the CFPB in a complaint that the furnisher or CRA is violating the FCRA.