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Capital One - I may have messed up

Cjethompson2017
Frequent Contributor

Capital One - I may have messed up

So, I had a capital one account that was purchased by portfolio recovery. The capital one marks on my account have been removed because it's too old. I thought I was in the clear of also having the collection account removed, but they informed me I made a partial payment to them in November 2017. Ugh. Did I mess this up? Since I made a payment, does the 7 years start over??

Message 1 of 11
10 REPLIES 10
TheKid2
Frequent Contributor

Re: Capital One - I may have messed up

The exclusion from the report goes from Date Of First Deliquency - not last payment. I believe you are referring to Satute Of Limitations with regard to owing the debt. So, if you legit owe it then it may be best to just settle it. PRA will PFD, even if you settle for less. Work out a settlement and get it gone.

 

Message 2 of 11
Cjethompson2017
Frequent Contributor

Re: Capital One - I may have messed up

Thank you. I do owe the debt, and am willing to pay to delete. Of course, I am just trying to save myself some money. Hahaha. But, I will pay it and be done.

Message 3 of 11
vntrsc
Frequent Contributor

Re: Capital One - I may have messed up

Is the DOFD more than 7 years ago?

Message 4 of 11
Cjethompson2017
Frequent Contributor

Re: Capital One - I may have messed up

Yes. But, I made a mistake and made a single payment November 2017 to the collection agency. Is it still off DOFD? Because the original creditor (cap one) is already off my report because it is so old. I realize I won't get much points because this is an older account, but I am wanting everything taken care of like yesterday. 

Message 5 of 11
vntrsc
Frequent Contributor

Re: Capital One - I may have messed up

The payment in 2017 has no effect on the date of first delinquency.   That date remains the same.  If the derogatory account is too old for Cap1 to report, it's too old for the debt buyer to report.  

 

Is the debt buyer reporting a DOFD?

Message 6 of 11
cyrusvalentino
Frequent Contributor

Re: Capital One - I may have messed up

As others have stated above this does not restart the 7 year removal from the CRA's and the CA account must be removed from your CR's. However, with that said making a partial payment does in fact reset the SOL time clock. Merely acknowledging that the debt is valid in some states will reset the SOL clock, and will allow suit to be filed well past the original SOL. If the debt isn't that much I'd try to settle for 30% with an agreement to PFD. Otherwise, depending on the debt collector they may file suit in an attempt to get a default judgement based on your payment within the last 3 years.



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Message 7 of 11
Cjethompson2017
Frequent Contributor

Re: Capital One - I may have messed up

@cyrusvalentino well shoot. I was trying to save myself some sheckels. I'll just pay it and have it deleted. I'm in a bit of a time crunch. 

Message 8 of 11
blb2397
Established Member

Re: Capital One - I may have messed up

So does this mean if its past the 7 year period it has to be deleted? Then he could continue payments to avoid getting sued??

Message 9 of 11
Luna3323
Contributor

Re: Capital One - I may have messed up

Had a similar case with cap one. My date of first delinquency was Nov 2013, I made payments up until 2017 and even after updates, it still fell off at the 7 year mark (well 6 months early). 



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Message 10 of 11
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