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I've been working heavily on getting my report cleaned up. Now I've begun working on my wife's reports. I found these two charged off credit cards on her report. I'm just curious to others' opinions as to what course of action we should take with each of them. Thanks in advance! Sorry if it's hard to read...
#1
Equifax Transunion Experian
Company Capital One Bank Usa Capital One Bank Usa Capital One Bank Usa
Opened Oct, 2006 Oct, 2006 Oct, 2006
Status date May, 2015 May, 2015 May, 2015
condition Open Open Open
Last activity Dec-10 Oct-10 Not Available
Balance $3,182 $3,182 $3,182
Status Charge-Off Charged off as bad debt Unpaid balance
reported as a loss by
credit grantor
Late 30 1 time 0 times 1 times
Late 60 1 time 0 times 1 times
Late 90 27 times (Apr 2015, 0 Times 26 times (May 2015, Apr 2015,
Mar 2015, Feb 2015, Jan 2015, Dec 2014, Mar 2015, Feb 2015, Jan 2015,
Nov 2014, Oct 2014, Sep 2014, Aug 2014, Dec 2014, Nov 2014, Oct 2014,
Jul 2014, Jun 2014, May 2014, Apr 2014, Sep 2014, Aug 2014, Jul 2014,
Mar 2014, Feb 2014, Jan 2014, Dec 2013, Jun 2014, May 2014, Apr 2014,
Nov 2013, Oct 2013, Sep 2013, Aug 2013, Mar 2014, Feb 2014, Jan 2014,
Jul 2013, Jun 2013, May 2013, Apr 2011, Dec 2013, Nov 2013, Oct 2013,
Mar 2011, Feb 2011) Sep 2013, Aug 2013, Jul 2013,
Jun 2013, May 2013, Apr 2013)
Worst delinquency 120+ None Collection
Credit limit 3500 3500 3500
Remarks Charged off account
Account closed by credit grantor Account closed by Account Closed At Credit
credit grantor Grantor's Request
#2
Equifax Transunion Experian
Company Chase Bank Usa, Na Chase Bank Usa, Na Chase Bank Usa, Na
Opened Feb, 2008 Feb, 2008 Feb, 2008
Status date Nov, 2011 Nov, 2011 Nov, 2011
condition Not Updated Closed Closed
Last activity Nov, 2010 Oct, 2010 Not available
Balance 0 0 0
Status Charge-off Charged off as bad debt
Late 30 1 time (Dec 2010) 0 times 1 time (Dec 2010)
Late 60 1 time (Jan 2011) 0 times 1 time (Jan 2011)
Late 90 9 times (Oct 2011, 0 times 9 times (Oct 2011, Sep 2011,
Sep 2011, Aug 2011, Jul 2011, Aug 2011, Jul 2011, Jun 2011,
Jun 2011, May 2011, Apr 2011, May 2011, Apr 2011, Mar 2011
Mar 2011, Feb 2011) Feb 2011)
Worst delinquency 120+ days past due None reported 180 days delinquent
Credit limit $4,500 $4,500 $4,500
Remarks Charged off account Purchased by another lender Purchased by another lender
Cap-1 attempt the PFD, verify its past your states SOL if so you may be able to offer less than full payment, this one may be going against your utilization costing you Fico points in addition to the CO. If they wont do the PFD and typically its an uphill battle with them then settle to stop the updating of the account your Fico cannot recover with monthly updating.
Chase, its been sold you can send them a GW letter asking for removal of the TL but since they took a loss they may not be in a goodwill mood, try anyway but I will caution you it hasnt updated in awhile and if they update its going to drop your Fico some.
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519
The Cap1 stands a high chance of also being sold in order to recoup a bit more of their expected total loss.
You might wish to offer payment to them, first by trying a PFD, but then maybe without such a contingency in order to prevent sale and the reporitng of a collection.
@gdale6 wrote:Cap-1 attempt the PFD, verify its past your states SOL if so you may be able to offer less than full payment, this one may be going against your utilization costing you Fico points in addition to the CO. If they wont do the PFD and typically its an uphill battle with them then settle to stop the updating of the account your Fico cannot recover with monthly updating.
Chase, its been sold you can send them a GW letter asking for removal of the TL but since they took a loss they may not be in a goodwill mood, try anyway but I will caution you it hasnt updated in awhile and if they update its going to drop your Fico some.
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519
Thanks for the response. I will try PFD with Cap 1 and go from there. As far as Chase goes, sounds like I may just want to let it ride. Sure don't want to wake a sleeping dragon. It should fall off on its own in 2017.
It it freaked me out when I saw on the report that Cap 1 has still been reporting late payments every month for the past 5 years. That's crazy. I've got to get that stopped. But if I pay them, then the 7 year wait will restart? I'm in year 5 right now.
Thanks!
@Anonymous wrote:
@gdale6 wrote:Cap-1 attempt the PFD, verify its past your states SOL if so you may be able to offer less than full payment, this one may be going against your utilization costing you Fico points in addition to the CO. If they wont do the PFD and typically its an uphill battle with them then settle to stop the updating of the account your Fico cannot recover with monthly updating.
Chase, its been sold you can send them a GW letter asking for removal of the TL but since they took a loss they may not be in a goodwill mood, try anyway but I will caution you it hasnt updated in awhile and if they update its going to drop your Fico some.
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/td-p/2031275
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519
Thanks for the response. I will try PFD with Cap 1 and go from there. As far as Chase goes, sounds like I may just want to let it ride. Sure don't want to wake a sleeping dragon. It should fall off on its own in 2017.
It it freaked me out when I saw on the report that Cap 1 has still been reporting late payments every month for the past 5 years. That's crazy. I've got to get that stopped. But if I pay them, then the 7 year wait will restart? I'm in year 5 right now.
Thanks!
Nope, the DoFD is a set in stone date and it can never be changed once an account reaches CO status.
Can anyone PM me with some good contact email addresses/physical addresses for Capital One? I want to try and start getting this CO taken care of. Thanks!
@Anonymous wrote:Can anyone PM me with some good contact email addresses/physical addresses for Capital One? I want to try and start getting this CO taken care of. Thanks!
Let me Google that for you http://bit.ly/1g0P1zO
http://corporateofficehq.com/capital-one-corporate-office/