So i finally was able to call and talk with Cap1 and they did find 1 charge on my account that was mine for well under $1600. I asked them why was I not offered a replacement card instead of closing my account and she did not have any answers for me. She said that I could "settle" for $835 but they would not reduce the amount owed if PIF. I'm waiting to hear back from police department with police report.
My new questions are:
Is "settling" now worse for my credit? I realize it still looks like I don't "pay as agreed" but until i hear back from PD, I don't feel as though I should have to pay charges that are not mine. Also, according to my TU report, the last payment made on this account was Feb 16, 2009 which leads me to believe that the account must have become delinquent some time around August 16, 2009...(?). Does this still mean that Cap1, no matter how we settle, will continue to report on my CR for two more years as delinquent or are they starting that time over from when/if i pay them?? I'm completely confused. I want to make good on this account, especially with the one charge that I do know now is mine but I also don't want to be dealing with this on my CR for another 7+ years from now.
As mentioned before, I have a current auto loan that I pay on time every month and usually a little extra. I was approved for the dreadful CreditOne card to start somewhere and I have been able to obtain personal loans (with high interest rates; understandably) since Cap1 and have paid those off on time or earlier than the terms we agreed on.
I'm just trying to figure out what I'm going to do here in the next couple of days. I'm just trying to avoid any judgements made against me as the CO on my CR is bad enough.
Thanks so much for any input!
