topic Re: Should I give up on Capital One? in Rebuilding Your Credit

Should I give up on Capital One?

Anonymous — Wed, 02 Jan 2013 20:30:11 GMT

I have a charged off that had a 30 day late of 9/07, and then charged off on 2/08.

I have sent several GW letters and have no received a response, I called their reporting department, no luck their aswell. This has come back to bite me in the you-know-what several times when applying for new line of credit.

Worst part of it all is I am a current Capital One customer with never a 30 day late since I opened a new account with them in 2010. The gave me a 2nd chance, but won't budge on the report.

The account was paid off when it was transferred to a CA and even the CA removed it from my report, now it just shows Capital One reporting it.

Should I suck it up and just wait another 2 years for it to fall off? Anything left I can try?

Re: Should I give up on Capital One?

Shogun — Wed, 02 Jan 2013 21:54:08 GMT

Cap1 is a tough one to crack. Have you sent to someone up the food chain?

Re: Should I give up on Capital One?

Anonymous — Wed, 02 Jan 2013 22:18:30 GMT

I have not, I will shoot out a few more letters this month and hopefully someone bites.

Re: Should I give up on Capital One?

Epcot — Wed, 02 Jan 2013 22:40:46 GMT

Yes, they can be hard to deal with. But keep your hopes up, it just takes one yes to come out of all the no's.

Re: Should I give up on Capital One?

RobertEG — Wed, 02 Jan 2013 23:10:13 GMT

They did a charge-off on an account that was only 30 days delinquent?

Between 9/07 and 2/08, did the account remain delinquent?

I ask because, in order to support a charge-off, the creditor must have reasonable basis for concluding the debt has become uncollectible.

If based solely on account delinquency, the normal standard is approx 120-180 days.

I suggest checking out the IRS regs on creditor charge-off, with an eye on challenging their presumption of uncollectibility.

Re: Should I give up on Capital One?

Anonymous — Wed, 02 Jan 2013 23:23:22 GMT

Sorry, yes the account remained delinquent for those months.

Re: Should I give up on Capital One?

Anonymous — Thu, 03 Jan 2013 01:23:36 GMT

I'm the exact same boat (almost).

I emaild the CEO, heard back and got a no.

So now i'm hitting the main office in UT to hopefully get someone who can show some sympathy.

Let me know how your end goes.

Re: Should I give up on Capital One?

sphinx313 — Thu, 03 Jan 2013 03:42:25 GMT

I attempted the same with Cap1 and they offered me a discount on the balance by removing some fees but no go on a deletion.

Re: Should I give up on Capital One?

H-Town_Tider — Thu, 03 Jan 2013 03:50:50 GMT

Definitely don't give up. I called Capital One in early December and asked them to update my account with the CRA's as I paid my card down to a $0 balance a few months earlier and when I pulled my report at the end of the month they had updated my balance and deleted my 30 day late from my reports. My score jumped 25 points and I wasn't even calling to ask them to remove the 30 day late.