Capital One charge off

[Cheryla18]

I have 2 accts with Capital One CC.... 1 was charged off 2 days ago. I found this out yesterday when I called to make a payment.... He said that it may not keep the acct open and if not it would be applied to the charged off balance. He said it may keep it from being charged off. Has any had this experience with Cap One..I would really like to keep it from being charged off. 

Thank you 

Cheryl

[RobertEG]

What you need is their agreement, possibly via an offer to enter into a payment plan or to pay the entire debt, not to report any charge-off that they might take.

They may be required under banking regs to take the CO if it has reached the required length of delinquency.

Regardless, they are NOT required to report the CO to the CRAs, even if they take that accounting measure.

Thus, the real issue from your perspective is not whether they take a CO, but rather whether you can obtain their agreement not to report it to the CRAs.