Capital One CO.... How to handle this?

[germese1975]

I've been doing some research into my CR....

I've got a Capital One CO with a balance of $0. The original balance was $1000. Midland Funding is attempting to collect on this account for $1300. The way I understand it, since Capital One is reporting $0, they sold the account to Midland. Can I contact Capital One and offer a PFD? Or at least a PIF with the CO and Midland deletion? I'm not certain how to handle this.

If contacting Cap One is the way to go, what is the best way to contact? I am currently in Afghanistan, so I can only contact by phone or email.

Thank you for your time.

[DaBears]

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@germese1975 wrote:

I've been doing some research into my CR....

I've got a Capital One CO with a balance of $0. The original balance was $1000. Midland Funding is attempting to collect on this account for $1300. The way I understand it, since Capital One is reporting $0, they sold the account to Midland. Can I contact Capital One and offer a PFD? Or at least a PIF with the CO and Midland deletion? I'm not certain how to handle this.

If contacting Cap One is the way to go, what is the best way to contact? I am currently in Afghanistan, so I can only contact by phone or email.

Thank you for your time.

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Hi germese and welcome to the forums. Once Capital One CO's an account and lists it as $0 bal they can no longer accept payment of any type. 

[germese1975]

DaBears... Thank you for your reply.

So I need to go through Midland, then GW Cap One to clear the CO? I've got two with Midland I need to fix. The other is around $3k. I think I can swing the $1k for a PFD. Does Midland usually accept PFD?

[DaBears]

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@germese1975 wrote:

DaBears... Thank you for your reply.

So I need to go through Midland, then GW Cap One to clear the CO? I've got two with Midland I need to fix. The other is around $3k. I think I can swing the $1k for a PFD. Does Midland usually accept PFD?

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You can send the GW letter to Cap One but keep in mind they don't have to delete their Trade Line, only update to reflect payment. I have been seeing Midland is very hard to PFD. Since you are in the service" Thank you" I'm sure they can work with you on that PFD. Guiness56 is another community leader here I can see if she can chime in on this.

[germese1975]

DaBears,

Thanks again. You guys and gals are a wealth of information on here! All of these have a DOFD the last time I was over here between 11/2009 and 1/2010. My ex wife was supposed to be paying my bills for me, since she was in the house all the bills were coming to. Instead, she just took the money. So now, I am dealing with several CO, since I couldn't afford to pay them all at once when I returned from overseas in March 2010. What a huge mess this has become!

[DaBears]

Oh man sorry to hear that. You're over there sacrificing your life for ours to protect us.....Really not fair that your ex would do that. Are you looking to boost your score or you just want to pay these off and don't have to worry about them again?

[germese1975]

DaBears,

I'm trying to do both. I can just ignore them for another 4-5 years and let them fall off, but I want to make things right. I also want to raise my score. I hold a security clearance, which is tied to a credit history partly. You can't have credit and hold a clearance. Historically, that makes an individual open to bribery.

[DaBears]

The only way to see a bump in score is to offer a PFD (Pay For Delete) paid or unpaid collections are scored the same way under Fico. So getting it deleted once paid is the best option.

[germese1975]

Thanks again, DaBears!

Guess I've got a long road ahead of me with this...I'm waiting to see a bump with a PFD with EOS last week, and a lowering of utilization by $1000 last week as well.