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Posts: 2,791
Registered: ‎06-05-2008
Re: 611 Credit One Bank

Ficofeind wrote:

Thanks for your reply.  The account status is closed.  It was closed in 2008 and the balance is $0.  It says charge-off.  I cannot even remember having this account and I have disputed several times with the CRA's.  I don't think I can offer a PFD because they say they don't own the account any longer and the balance shows as $0.  I would offer them money if that would help.





Sounds to me like Credit1 charged it off and sold it to Sherman.  That means a GW to Credit one is your best bet, but you need to be aware that Sherman might be a ticking time bomb - they could start reporting you at any time.  


If it was me, I'd talk to the folks over at Credit 1 and see if any information about the balance can be found, or if you can establish what the DOFD is.  That will help you decide what to do.  It would also be smart to ask them to send you any relevant account history information that they can.  Maybe you'll get lucky and find an innacuracy that legitimizes your dispute.  


If the DOFD is in 08 and the balance isn't too low, I'd contact Sherman and just PIF before it hits your report.  If it's a large account, start saving now and pray they don't file suit before SOL.  If it's close to aging off, let sleeping dogs lie.



3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL