Credit Card Center Advertiser Disclosure†
01-02-2013 12:30 PM
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?
01-02-2013 01:54 PM
Cap1 is a tough one to crack. Have you sent to someone up the food chain?
01-02-2013 02:40 PM
01-02-2013 03:10 PM
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.
01-02-2013 05:23 PM
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.
01-02-2013 07:42 PM
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.
01-02-2013 07:50 PM
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.