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Dear old Cap1

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madmann26
Valued Contributor

Dear old Cap1

So I have been rebuilding recently and I have this Cap1 CO that I have been trying to pay. When I call them, they tell me that it's been handed over to a CA and when I call the CA they say it's been sold to some one else ( so I amdisputing the first CA since they are not the responsible CA ) so I call CA #2 and are giving me the runaround saw well. 

 

Any advice? I'm trying really hard to pay this in good faith.

 

Thanks in advance.

Current FICO 9 Scores



Message 1 of 10
9 REPLIES 9
LS2982
Mega Contributor

Re: Dear old Cap1

How old is the CA?



EQ FICO 548 3/3/16
Message 2 of 10
madmann26
Valued Contributor

Re: Dear old Cap1

The Cap1 account is just over 5yrs old.

 

Current FICO 9 Scores



Message 3 of 10
LS2982
Mega Contributor

Re: Dear old Cap1

Not sure I'd want to pay that so close to the 7yr drop off.



EQ FICO 548 3/3/16
Message 4 of 10
JonStur
Established Contributor

Re: Dear old Cap1

Leave it alone IMHO.. Unless you can convince a CA to pay for delete, it will be on your credit report for another seven years. I would let it be unless you just want to feel good about paying off your debts.


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Message 5 of 10
madmann26
Valued Contributor

Re: Dear old Cap1

Thanks Jon,

 

Its hard to leave it alone. That balance is killing my utilization. I could always pay it and try to GW it down the road. I just don't know.

Current FICO 9 Scores



Message 6 of 10
LS2982
Mega Contributor

Re: Dear old Cap1


@madmann26 wrote:

Thanks Jon,

 

Its hard to leave it alone. That balance is killing my utilization. I could always pay it and try to GW it down the road. I just don't know.


GW with Cap1 is very hard. Is it a big balance that you owe?

 




EQ FICO 548 3/3/16
Message 7 of 10
madmann26
Valued Contributor

Re: Dear old Cap1

$591 I believe.

Current FICO 9 Scores



Message 8 of 10
Sparkz1920
Frequent Contributor

Re: Dear old Cap1

You're almost at 7 years...Dunno if i would pay it off

 

It will help your score a bit if paid. I paid 2 charge offs from CAP1 and successfully got one deleted last month praise god. It went bad in 07 and my date to drop off is sometime in 2014 i know that much. I paid it in 09 and it did not start the clock again. Plus, I was trying for government jobs and the reserves in 09 and figured its better to pay it off and get a clearance than have debt sittin there and be denied a clearance.


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Current Score: 670
Goal Score: 700


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Message 9 of 10
LS2982
Mega Contributor

Re: Dear old Cap1


@madmann26 wrote:

$591 I believe.


Eh, it really depends on if you want to roll the dice with them. You could send them a PFD letter, but that might make them want to sue to get the money. You could pay it and try for GW but I dont think you'll have much luck with it.

 

IMO I would leave it be and let it fall off.

 




EQ FICO 548 3/3/16
Message 10 of 10
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