topic Re: Credit One Delete! in Rebuilding Your Credit

Credit One Delete!

Anonymous — Tue, 04 Jun 2019 20:26:32 GMT

Hi all,

Just so happy that I wanted to share the news: Credit One agreed to delete a charge off! It's my one and only. I'm so relieved! A little backstory - this is from 2016 and the debt was sold to Midland Funding. On Friday I decided to apply for the barclays Uber Visa (long shot, I know). I was denied but the recon lady was super helpful and told me almost exactly what I needed to fix. This co was one of the main things. I decided on a whim to just pour my heart out in an email and see what happens. To my surprise I received a call back on Tuesday stating that I will receive an email with a decision within 5 business days. The email came in yesterday afternoon: they'll remove it in 60-90 days! Now I just have to figure out whether I can get Capital One to remove a late from my account history. The past three years have been perfect except for a 30 day late in January 2018 due to an autopay error. I know they won't remove any of my lates from 2015 (30, 60, 90, and 120) but maybe they will work with me on this one. My next step is to write a letter to Sallie Mae as I settled with them and hopefully they'll delete the debt from my cr. I finally feel like I'm starting to get somewhere and I'm curious how the removal of this co will affect my scores.

Re: Credit One Delete!

coreysw12 — Thu, 30 May 2019 19:11:05 GMT

Congrats, that is awesome!

So the only baddies left on your report are a 30-day late on cap1, and some kind of Sallie Mae debt that was settled?

What are the details on the Sallie Mae account? You said you "settled" it, so does that mean it has a bunch of late payments or a chargeoff on it? collections? They usually wouldn't settle unless you were pretty far behind on your payments.

The reason I ask is because it will help determine what your score might do after the Credit One account goes away. Deleting old paid-off baddies tends to not really have much effect, until the last one gets removed. In other words, having 3 baddies isn't really treated that much differently than only having 1.

So, depending on what your Sallie Mae account looks like, your CreditOne account deletion could either have a HUGE effect on your score, or almost zero effect.

Re: Credit One Delete!

Peazmom — Thu, 30 May 2019 18:59:40 GMT

@Anonymous wrote:
Hi all,

Just so happy that I wanted to share the news: Credit One agreed to delete a charge off! It's my one and only. I'm so relieved! A little backstory - this is from 2016 and the debt was sold to Midland Funding. On Friday I decided to apply for the barclays Uber Visa (long shot, I know). I was denied but the recon lady was super helpful and told me almost exactly what I needed to fix. This co was one of the main things. I decided on a whim to just pour my heart out in an email and see what happens. To my surprise I received a call back on Tuesday stating that I will receive an email with a decision within 5 business days. The email came in yesterday afternoon: they'll remove it in 60-90 days! Now I just have to figure out whether I can get Capital One to remove a late from my account history. The past three years have been perfect except for a 30 day late in January 2018 due to an autopay error. I know they won't remove any of my lates from 2016 (60, 90, and 120) but maybe they will work with me on this one. My next step is to write a letter to Sallie Mae as I settled with them and hopefully they'll delete the debt from my cr. I finally feel like I'm starting to get somewhere and I'm curious how the removal of this co will affect my scores.

That's wonderful news. Would you mind pm'ing me the contact information for Credit One? I have a CO that I hope they would do this for as well.

Re: Credit One Delete!

Anonymous — Thu, 30 May 2019 21:12:21 GMT

That's fantastic news! I just started the same process today. Charge off from 2014, sold to Midland, paid in full with midland. Taking advice from this forum, an older thread, I emailed the CEO this morning. I just got a call back, about 6hrs later, from his representative, saying they're looking into it for me and I'll get a response in 3-5 business days. I then immediately got an email from her stating the same info.

This is my ONLY derogative on my report of any kind.

I'm cautiously optimistic! Good luck to anyone giving this a shot.

Re: Credit One Delete!

Anonymous — Thu, 30 May 2019 23:45:43 GMT

There are three things: a 30 day late from Capital One (although if creditors can see the entire tl then they'll see the old 30, 60, 90, and 120 lates - I really hope Cap1 will work with me on these), a collections account being handled by ERS, and the Sallie Mae account. The Sallie Mae account is from a student loan that I defaulted on. I settled with them a month afterwards and it was never purchased by anyone else. It now shows on my reports as "closed, settled" but I'm hoping that they will respond favorably to my letter and delete. ERS told me that even if I settle for a lesser amount with them they will still delete. Apparently they are one of the few collections agencies that always delete.

So based on your response I don't think it will have a huge affect on my scores but even seeing my score go up one point will be nice Plus I recently got a Discover secured so fingers crossed that will help between May's scores and June's scores.

Re: Credit One Delete!

Anonymous — Thu, 30 May 2019 23:52:40 GMT

Good luck to you! That will make such a huge difference since it's your only negative. Yay!

Re: Credit One Delete!

Anonymous — Mon, 03 Jun 2019 19:20:00 GMT

Whoohoo! Just heard back from Credit One and, "as a courtesy", they are removing their tradeline from my CRs.

The whole thing was pretty painless. Wrote an email last Thursday morning explaining myself, got a phone call and email response that afternoon, saying they were looking into it, and just now got an email with a letter attached. So 4 days, including a weekend, I'm impressed and very grateful. This was my only derogative mark of any kind. Also, I added $5k to my available balances with a new Cash Magnet AmEx in early May that hasn't reported yet, paid about $2k on CC balances over the month, and wiped out the rest of my CC utilization last week with a $10k Lending Club loan at 9.44% for 3yrs. So, I started May with a single 5yr old CO on my account, 71% utilization, and a Fico 08 score of 685. Now I'm starting June with 0 baddies, and 1% utilization...can't wait to see what this does to my score!

Good luck to everyone else in a similar boat!

Re: Credit One Delete!

Anonymous — Mon, 03 Jun 2019 20:08:03 GMT

Very nice indeed. I sent them a Good Will letter myself yesterday about a 30-day late payment. They called and emailed me today. Hopefully I will get positive results like you soon.