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Should I give up on Capital One?

Contributor

Should I give up on Capital One?

I have a charged off that had a 30 day late of 9/07, and then charged off on 2/08. 

 

I have sent several GW letters and have no received a response, I called their reporting department, no luck their aswell. This has come back to bite me in the you-know-what several times when applying for new line of credit. 

 

Worst part of it all is I am a current Capital One customer with never a 30 day late since I opened a new account with them in 2010. The gave me a 2nd chance, but won't budge on the report. 

 

The account was paid off when it was transferred to a CA and even the CA removed it from my report, now it just shows Capital One reporting it. 

 

Should I suck it up and just wait another 2 years for it to fall off? Anything left I can try?

........???................659 (FICO)................659 (TU08) ........
Message 1 of 9
8 REPLIES
Moderator Emeritus

Re: Should I give up on Capital One?

Cap1 is a tough one to crack.  Have you sent to someone up the food chain?

Starting Score: 504
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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Message 2 of 9
Contributor

Re: Should I give up on Capital One?

I have not, I will shoot out a few more letters this month and hopefully someone bites.

........???................659 (FICO)................659 (TU08) ........
Message 3 of 9
Valued Contributor

Re: Should I give up on Capital One?

Yes, they can be hard to deal with. But keep your hopes up, it just takes one yes to come out of all the no's. Smiley Happy

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
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Message 4 of 9
Community Leader
Legendary Contributor

Re: Should I give up on Capital One?

They did a charge-off on an account that was only 30 days delinquent?

Between 9/07 and 2/08, did the account remain delinquent?

 

I ask because, in order to support a charge-off, the creditor must have reasonable basis for concluding the debt has become uncollectible.

If based solely on account delinquency, the normal standard is approx 120-180 days. 

I suggest checking out the IRS regs on creditor charge-off, with an eye on challenging their presumption of uncollectibility.

Message 5 of 9
Contributor

Re: Should I give up on Capital One?

Sorry, yes the account remained delinquent for those months. 

........???................659 (FICO)................659 (TU08) ........
Message 6 of 9
Regular Contributor

Re: Should I give up on Capital One?

I'm the exact same boat (almost).

 

I emaild the CEO, heard back and got a no.

 

So now i'm hitting the main office in UT to hopefully get someone who can show some sympathy.

 

Let me know how your end goes.

"just trying to get my credit up..."
Message 7 of 9
Established Contributor

Re: Should I give up on Capital One?

I attempted the same with Cap1 and they offered me a discount on the balance by removing some fees but no go on a deletion.



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
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Message 8 of 9
Highlighted
Established Member

Re: Should I give up on Capital One?

Definitely don't give up. I called Capital One in early December and asked them to update my account with the CRA's as I paid my card down to a $0 balance a few months earlier and when I pulled my report at the end of the month they had updated my balance and deleted my 30 day late from my reports. My score jumped 25 points and I wasn't even calling to ask them to remove the 30 day late.



Starting Score: 671 TU (1/29/12), 653 EQ (1/29/12)
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Message 9 of 9