What's worse? Collection Account or Charge Off or both???? LOL

[newmomnewme]

I have two charge offs (Capital One and HSBC) that were paid to Portfolio Recovery a few years ago.  I started goodwilling Portfolio, then I was thinking about goodwilling the OCs; both are Capital One now. I am a current Capital One customer (2 credit cards, auto loan, and checking account---no late or missed payments).....

What do you all think? Should I try to goodwill Capital One until they crack? Deleting the Charge Off is what I am requesting....is that unrealistic?

[newmomnewme]

Bump for help....Delete the charge off and request goodwill removal of CA, right?

[09Lexie]

The GW letters are sent to the creditor reporting the delinquency. If Cap 1 is no longer reporting or owns the accounts, you have to send them to
Portfolio.

[newmomnewme]

Cap 1 is listed on my CR as a CO....So I was wondering if I could contact them for a possible GW deletion of the tradeline. At first I was concerned about my AAoA, but I would rather have the CO deleted if possible. I have other accounts that are as old as the CO.  What do you think?

[DaBears]

Charge Off is worse than having a collection. Charge Off's are compared to having a public record on your credit report. 

[RobertEG]

It is absolutely worth the effort to request GW deletion of a reported charge-off.

Reporting of a CO places of record in your file the prior determination by a creditor that you are seen as one who is not going to pay your debt.

That is always a negative in any review of your credit report.

Even though the debt was eventually paid, it suggests to a new creditor that you may let your debt becone seriously delinquent to the point where it has been determined to have become uncollectible.  Higher risk.

My suggestion in requesting deletion of a prior charge-off is to rely upon payment of the debt as a showing that you are not a consumer who intends to stiff their obligated debt, as the reporting of a CO inherently suggests, but rather were simply going through hard times that, once overcome, led to your immediate satisfaction of the "uncollectilbe" debt.  Thus, the continued showing of a CO in your credit report does not accurately reflect your risk of stiffing your obligated debts, and that its deletion would more accurately reflect upon you as a consumer.

[newmomnewme]

Thanks RobertEG!!! I couldnt have said it better! I will continue to GW Capital One and hope they consider my current relationship with them.

[newmomnewme]

Ok, so since then, the two Charge Offs remain, but the collection agency tl (portfolio) have been deleted. I have tried the Cap1 EO email over 4 times all with no help. 

So as it stands I have the following baddies....is my only course of action to keep goodwilling?? 

FCO- falls of 10/2017

FCO- falls of 11/2018

Cap1 C/O- falls of 9/2015

HSBC C/O- falls of 8/2015 

My credit score has been steady for the last 6 weeks...even with the mortgage apps. I just want to "try" to figure how much this is holding my score down.....to see if its even worth the GW effort for me; really doesn't take much effort to send 2-4 letters or e-mails per month.

[Mortalito77]

Hello,

I was just reading about related subjects that are interest to me as I am in a similar situation as you. I was wondering, did you ever get anything positive out of the GW letters that you continued to send out almost a year ago? I was wondering if you had any success and if you did, I was wondering if you could share them with me perhaps see a copy of the letter you sent to them, (not the actual letter) but what you said in the letter   : ) I honestly believe these things are what's holding my score down. As a matter of fact, I just pulled my Equifax report and I my Jaw dropped from all the errors and accounts I didn't know were being reported. I am sending a letter tomorrow to dispute a bunch of incorrect information there. The GW letters is an attempt in working with the creditors on information that it's actually valid on my report. Thank you for all the help you can provide.