Capital One Charge Off. Unusual?

Anonymous — Tue, 22 Jun 2021 03:18:11 GMT

Hey fam,

I am in the process of cleaning up my credit history. A few weeks ago, I contacted the CAs that were assigned to two of my Capital One charged off accounts and I settled with them before they reported the debt as collections which would destroy my efforts and would take me back to square one.

So today, I got a notice from myFico that there's an updated information on those accounts.

However when I logged in, I saw that they just deducted what I paid from the total amount owed and the rest still shows UNPAID instead of settled and 0?? Is this even normal? I have never paid off a charge off so I really don't know what the process is.

On the other hand, when I log in to the collection accounts they both show the account is settled and closed and I owe nothing to them? I also have email confirmation from both companies that the account is settled so, I seriously doubt they tricked me and just took my money.

Could anyone provide an insight about what's going on?

Re: Capital One Charge Off. Unusual?

OmarGB9 — Tue, 22 Jun 2021 05:03:01 GMT

Yes that's normal. Usually what they do is deduct your settlement from the outstanding balance in the first update, and then in the second update they zero out the remaining balance. Why they do it this way, I don't know, but it is what it is. I wouldn't worry. Give it another 30-45 days for everything to finalize.

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Capital One Charge Off. Unusual?

Re: Capital One Charge Off. Unusual?