Cap One - What to do?

[turninganewleaf]

I have a charged off Capital One card that was opened in Jan 2002 and was closed by Cap One Feb 2004 (according to myFico reports).  This account has many late payments as well as exceeding credit line.

I have been in the process of paying off this account which I was told by Cap One that once paid, it would be removed from negative and show PIF, but still show a CO, I guess until Feb 2011?.  My current bal is $1014 and I'm about to make a $500 payment today and the difference of $514 next month. 

Is there anything I could do to possibly have this negative item removed from my CR's?  A PFD letter maybe before I pay off the entire amount without asking first?  Any suggestions anyone?

THANK YOU!!!

[autofly]

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turninganewleaf wrote:

I have a charged off Capital One card that was opened in Jan 2002 and was closed by Cap One Feb 2004 (according to myFico reports).  This account has many late payments as well as exceeding credit line.

I have been in the process of paying off this account which I was told by Cap One that once paid, it would be removed from negative and show PIF, but still show a CO, I guess until Feb 2011?.  My current bal is $1014 and I'm about to make a $500 payment today and the difference of $514 next month. 

Is there anything I could do to possibly have this negative item removed from my CR's?  A PFD letter maybe before I pay off the entire amount without asking first?  Any suggestions anyone?

THANK YOU!!!

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Nope.  I've been through this game and lost with CAP1.  I went through this for 6 years with them.  I will say that they never once sent my account to a collection agency.  They just kept it themselves.  They will not PFD.

I finally paid it off in Jan. of this year.  Now, 6 months later they offered me credit again.  I guess jokes on me since they made $5500 off of a $1000 debt.  At least that old card is finally scheduled to fall off of my CR in a couple of months.

Auto

[Tink]

CapOne sent two accounts I have with them to a CA called Northland Group. I am considering PFD's as soon as I get reponses to PFD's I have sent to other CA's. I would try the PFD and see what happens.

[Anonymous]

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Tink wrote:

CapOne sent two accounts I have with them to a CA called Northland Group. I am considering PFD's as soon as I get reponses to PFD's I have sent to other CA's. I would try the PFD and see what happens.

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Don't know about Northland Group, but Cap 1 DOES NOT do PFD. Been there tried that, bought the tee shirt! Has to wait the entire 7 yrs before it fell off. I even made payments once for 6 months and they still would not report even the payments being made, just the delinquency. I finally just quit making payments. But they did keep it to themselves and did not assigh it to a CA.