How often does Cap 1 Hit YOU with "lates"??

[Anonymous]

i can use some feed back here. 

I have two Cap 1 chargeoff/closed Accounts, due to drop in 02/08 and 07/08 off credit reports.  after years of no activity reporting, in August 07, they reported 90 day lates for May, June, July, August.  all reported at one time in August for four months.  (can they do that?)

anyway, i have a few questions on this.

has anyone noticed a pattern in their Cap 1 chargeoffs?

will they continue to report "lates" on chargeoff/closed accounts right up to the time they are to drop off? or was this the last stab in the back before the TL is deleted after 7 yrs ?

The SOL has run out (Texas 4 yr) and am wondering to do a PFD ( I know cap1 doesnt really do a PFD) but just not to have the "Lates" show up again. 

THE LATES ARE KILLING MY SCORE..Help,.............thanks

[Anonymous]

not from personal experience - but from what I hear from others is:

They monitor your reports as long as your account is open-If they see the score rise or see any activity to indicate a home purchase; They turn the reporting machine on.

Is this a last chance to kick you? Yep.

[Anonymous]

thanks tim....also, now that they report limits, my cap 1 cards with CL, Card 1, 500cl now 2200, and Card 2 400cl now 1800, kills my UL correct?

what would be considered a good offer for PFD for  Card 1 or Card 2?

thanks

Message Edited by mymy on 09-30-2007 03:35 PM

[Anonymous]

If your previous "High Balance" is higher than you CL then yes.
A higher CL will HELP you not hurt you.

Cap1 is very resistant to PFD- They will only accept in cases were Capone may have been at fault.

They will/may settle for a lesser amount but PFD is going to be hard.

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@Anonymous wrote:

thanks tim....also, now that they report limits, my cap 1 cards with CL, Card 1, 500cl now 2200, and Card 2 400cl now 1800, kills my UL correct?

what would be considered a good offer for PFD for Card 1 or Card 2?

thanks

Message Edited by mymy on 09-30-2007 03:35 PM

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[CreditDrama85]

although i have had good service on my cap 1 cards, they are brutal. i cannot tell u how many cases ive seen where they report late payments of accounts and let fees rack up and then sue customers once they feel they have reached the highest amount.

tim is right a pfd is nearly impossible, but if you can settle--you should; because just when you think u have gotten away with it and the debt is charged-off they will file suit.

AND im still trying to figure out their strategy for deciding when to report cls. i have 4 capital one cards and the limit is only reported on 2 however all of them were updated in sept.

Message Edited by CreditDrama85 on 09-30-2007 05:48 PM

[PayYouNever]

My thing with Cap1 is getting them to remove a LATE, as I'm paying off my debt with them via a DMP -- and THEY were late in making a payment back in August, so Cap 1 lists me a being late -- knowing full well I'm in the DMP that they approved. It hurt my score to take another late with them -- my last late with them was back in 2004, when I was up to 90 days due to severe unemployment and financial distress.

I haven't tried a GW with Cap 1, because it seems like they don't even read past the first sentence unless a check is in the envelope.

But I intend on writing one, considering I was not late it was the DMP choosing to disburse the payment later that usual.

[Anonymous]

I have one due to drop in January too and they kicked me a few times...they want to make sure they get you as long as they can.