Need info for a Cap One charge-off

[Cheryla18]

I havent ventured into dealing with a Cap One charge off and would like as much info as possible. It's around the $500.00 range...some reports say Charge Off or Sold to another lender. I don't remember getting any mail from a CO and don't have a CO on my report for this account. How easy/difficult is it to get a PFD with Cap One?

Thanks in Advance

Cheryl

[gdale6]

There is no such thing as PFD in Capital 1s dictionary. If the account is CO sold or trasnferred and the bal is indicating 0 they dont own it anymore its been sold off to a JDB. If the account is not reporting on any of your reports I would let the whole thing go and not worry about it. If it is past the 7 yr CRTP it cannot be put back on your CRs legally.

[Cheryla18]

---

@gdale6 wrote:

There is no such thing as PFD in Capital 1s dictionary. If the account is CO sold or trasnferred and the bal is indicating 0 they dont own it anymore its been sold off to a JDB. If the account is not reporting on any of your reports I would let the whole thing go and not worry about it. If it is past the 7 yr CRTP it cannot be put back on your CRs legally.

---

It is reaching the end of the SOL  and no CO listed on my CR...I'm guessing because it's such a small balance.  I was really hoping they would be a company that would PFD

[RobertEG]

A bit confused.  It is showing as charged-off and sold to another, but you state no charge-off has reported?

Is the status shoeig as charged-off, and sold?

Regardless, if sold, the OC is done with the debt other than reporting a current balance of $0.

You then have someone else out there who can now report a collection, and satisfaction of the debt would then only be with them.

I would first attempt to determine who now owns the debt, and make a pay for NOT reporting offer to them.

Preventing further damage would be my immediate concern.

[Cheryla18]

---

@RobertEG wrote:

A bit confused.  It is showing as charged-off and sold to another, but you state no charge-off has reported?

Is the status shoeig as charged-off, and sold?

Regardless, if sold, the OC is done with the debt other than reporting a current balance of $0.

You then have someone else out there who can now report a collection, and satisfaction of the debt would then only be with them.

I would first attempt to determine who now owns the debt, and make a pay for NOT reporting offer to them.

Preventing further damage would be my immediate concern.

---

This is what all 3 reports on MyFico say: Account transferred or sold Charged off account

Purchased by another lender

Transferred To Another Lender

[RobertEG]

Then the last reported status was that the debt was charged-off.

They were not required to have sent you notice that they did that accounting measure.

Notice only to the CRA is sufficient.. 

Reporing of a CO does not affect the continued obligation for the full debt, either to them or any party who acquires the debt from them.

The OC account now should report a $0 balance owed to them, and thus no debt to offer them payment in exchange for deletion of their reporting of the charge-off.

[Cheryla18]

---

@RobertEG wrote:

Then the last reported status was that the debt was charged-off.

They were not required to have sent you notice that they did that accounting measure.

Notice only to the CRA is sufficient.. 

Reporing of a CO does not affect the continued obligation for the full debt, either to them or any party who acquires the debt from them.

The OC account now should report a $0 balance owed to them, and thus no debt to offer them payment in exchange for deletion of their reporting of the charge-off.

---

Yes I understand that if they charged it off that notice isn't required...the fact that it says Sold to another lender which leads me to believe that it was sent to a CO is where it goes gray because I don't remember getting anything from a CO.   The conflicting info..of Charged Off or Sold to Another lender doesn't give me a clear idea of where the account is right now.

[gdale6]

If there is no listing on your CR for this debt then you dont know who owns it and therefore you can do nothing about it, there is nothing to PFD at Cap-1 they sold it. If it is past your states SOL and all your other possible debts are as well run a morgtage app, this will bring all the scumbags out of hiding very quickly. Frankly I would sit back and do nothing at this point in time.