topic Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call? in Credit Cards

Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

BlueBayou — Mon, 14 Apr 2008 16:58:17 GMT

I have a Capital One unpaid chargeoff DOFD 11 or 12/2001. ($1971.00)

Been waiting on Heloc answer for two weeks, got email today, Loan Officer wants proof that Capital One is closed and paid. OMG!!!!!

I was hoping to wait for it to drop in Nov/Dec.

Hs anyone paid a Capital One chargeoff this old and it dropped off report after the seven years or will it re-age?

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 17:11:39 GMT

Be very very careful with Cap 1 in this situation. It is almost exactly the situation I was in 18 mos ago with them. They did indeed attempt to reage the account. They are currently reporting a charge off almost monthly even though I paid it. Fortunately I have copies of the credit reports before I paid it so at the end of this year when it's really do to drop I can force the issue and demonstrate that it is actually over 7 years old.

I did contact Cap 1 back when I discovered this item on my credit report about 18 months ago and talked to a very nice lady who said sure if you pay this I'll make sure it doesn't update with the CRA's and if you wait 30 days and then dispute the tradeline it will just disappear.

So the lady was very nice before I paid the bill, she wasn't so nice after I paid it though (Pre MYFico board days). The thing is still on my reports, and not only that but my scores are reflecting that it is current.

that's just my experience with Cap 1, yours might be different.

Van

PS The dates, and amount owed that you listed are almost identical to the dates and amounts I had.

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 17:25:08 GMT

Van's story w/ Cap1 is the exact same story we have... TWICE. DH got conned into paying an almost-chargeoff in 2003, was told his pmt "saved" it from charge-off. Not true. He has a big ugly charge-off on his CR & Cap1 tells us he must have "misunderstood" when he paid. He still has his notes written down & his job is to be a big think tank for the gov all day, very unlikely that he misunderstood anything.

Then again in 06, I found ANOTHER Cap1 charge-off on his report, and called the collections company it was with. The guy said if we settled, it would report paid chargeoff, but if we PIF, it would revert to "Paid/Acc't closed" and delete the charge-off notation.

Again, throw up the BS flag because that was nooot true. So now DH sits w/ two Cap1 chargeoffs on his acc't. I wouldn't trust any one of their reps as far as I could throw their corp HQ building. They don't drop anything. And they're still reporting the one we paid in 06 every month so it constantly looks like new activity.

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

BlueBayou — Mon, 14 Apr 2008 17:26:22 GMT

Thank you, Vanyel!

Actually, I had just finished reading your other post. This is so sickening, I am so worried that it will tank my scores from being updated to Paid ChargeOff. CrapOne has been a thorn for over 4years since I found out about the CO. I have tried and tried to get a settlement and it seems that every time I called they would just tack on more CO dates to my file effectively making it look as if it is a current CO. They have even had it reported as a repo and foreclosure. Several times I would call and they couldn't find any info.

I am almost ready to ditch the Heloc until the end of the year just to save my scores.

Does your report show closed? And did they send you something right away to show that it was paid? (Sorry, I know it was over 18 months ago) My mind is so muddled!

If I don't go with the Heloc, I sure hope they don't close my credit card if I just leave it.

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

BlueBayou — Mon, 14 Apr 2008 17:32:49 GMT

And thank you Ivy;

I was thinking that would happen! I just don't know what to do.

Ivy, what are your DH's scores like now? I think I remembered you getting some decent credit lines recently.

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 17:36:46 GMT

I actually paid it right then and there on the phone with the nice lady. To add insult to injury I felt the need to pay my debts, so I called them when I discovered it on my report. They were not actively trying to collect. There were no collections on my report relating to them. I was also less than 6 months from SOL on that account. Sometimes doing the right thing means not only taking your medicine for your actions, but getting sick all over again.

As strongly as I feel about paying my debts if I had it to do over again I would have let time take care of that one. Then I'd be past SOL now and just waiting till the end of this year for it to drop.

More about CAP ONE Close window Remarks: [TransUnion] [Experian] [Equifax] Account closed by consumer
Paid charge off TransUnion Experian Equifax Past Due: High Balance: Terms: Limit: Payment: $0 Opened: Reported: 11/2007 Responsibility: Individual

Late Payments (last 7 years): TransUnion Experian Equifax days late: 1 days late: 1 days late: 23

More about CAP ONE Close window Remarks: [TransUnion] [Experian] Account has been closed due to inactivity.
Unpaid balance reported as a loss by credit grantor. [Equifax] TransUnion Experian Equifax Past Due: High Balance: $1669 Terms: Limit: Payment: Opened: 03/2002 Reported: 10/26/2006 Responsibility: Individual

Late Payments (last 7 years): TransUnion Experian Equifax days late: 1 days late: 1 days late: 3

Van

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 17:42:41 GMT

Oh and by the way as an aside to this whole story, the charged off amount was actually less than half of the amount I paid when adding in all the fee's and interest. I turned the other cheek so they could slap that one as well.

Van

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

BlueBayou — Mon, 14 Apr 2008 17:46:56 GMT

Vanyel;

How fruitful (is that the word) have you been on opening new accounts? I see your scores are similar to mine as well, however, I just got a delayed SW alert that one of my accounts reported an increase and my score went up 9 points to: 666, is this a sign?!?!?

Your Cap1 post looks like mine without the paid note I guess I will be turning my cheek several times as well!!!!

Message Edited by BlueBayou on 04-14-2008 10:46 AM

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 17:55:09 GMT

Well I started working on my credit at the time I paid the Cap 1 account. In fact that was the first thing I did for my own credit repair. At the time I didn't have any credit card accounts simply because I was gun shy based on how it went the last time. I had some financial issues which caused me to stop paying them at the time and then I started cleaning up past indiscretion.

My scores were in the 540 range at the time, and they are now where you see them in my sig. I have only been declined for 2 credit cards that I have applied for, and that was in the beginning when I didn't know what cards to apply for to rebuild my credit. These boards have been a Godsend for me, and even as cantankerous as I sometimes seem to be I really have appreciated all the information I have received from them. The folks here are not always right, but they are always supportive and sometimes that's more important! :-)

Van

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 18:23:14 GMT

My story is a little different. I had a paid/settled cap1 chargeoff on my reports due to drop off this past January 2008. It did drop off all by itself. Mabey because mine was paid years ago, It fell off reports according to the dofd.

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

Anonymous — Mon, 14 Apr 2008 18:47:39 GMT

666 LOL

Funny you should mention that, my TransUnion PFico from WAMU for March is a 666.

Strange that my other PFico from them is 696 (Of course that's on the business account) but the balances showing are exactly the same range. Just goes to show you the difference Cap 1 is making on my personal reports.

Van

Re: Anyone successfully paid a 2001 Capital One CO and see it drop from report? Who to Call?

BlueBayou — Mon, 14 Apr 2008 20:34:13 GMT

Well, If I pay it, then I would only have to wait until Nov/Dec 2008 to drop. Or so I hope!!!!

That 666 score should be eliminated from the Scoring Algo----

Man, I do not want to call Crap1