Hi! New here with questions!

5ray2006 · ‎03-23-2010

Hello all :

I just signed up for SW last week. My scores are pretty bad.-nothing I didn't expect. DH and I are wanting to build a new home next year by 7/2011. I must say that I'm overwhelmed by the work ahead of us. However, I'm so inspired by all of you and I love reading all of the success stories. Here is my problem. My dh had a Capital One acct. that was sent to collections.(I was an authorized user). The balance was $987 and he settled back in 2006 for $906. I have the letter from CA confirming settlement. The letter states the CA "does not report to credit bureaus on behalf of creditor". So I pulled my scores and it shows Capital One 120+ days past due, DOLA 2/05 with a balance of $904. How do I go about disputing this? Should my dh dispute this since he was the cardholder? or can I since it is on my CR ? Should dh call Capital One and get this straightend out?? Or do I send a letter to EQ disputing the info.?? TIA for your advice.

Anonymous · ‎03-23-2010

Hi and welcome to the forums.

Do you know if Cap One sold the debt or only assigned it? If they sold it Cap One must show a 0 balance while the CA will show the full balance. If Cap One assigned it to a CA both are allowed to show a balance.

Since you were an authorized user all you have to do is call Cap One and remove yourself as AU. Your score will take the same hits as your husbands unless you do.

If the debt was assigned to the CA, they are responsible for reporting to the OC the account was paid. If they owned it there would be no need.

First I would remove myself as AU and wait for that to update. Then I would dispute the TL as paid.

5ray2006 · ‎03-23-2010

Thanks so much. I'm off to call Capital One.

5ray2006 · ‎03-23-2010

Whew, that was easy. I called the debt recovery dept at Cap.One and she removed me as AU and I also told her my CR was still showing an unpaid balance. She is sending to all 3 agencies that the account was settled and paid as agreed with 0 balance. She is sending us a confirmation letter. I hope that helps dh and help me by removing me as AU. We shall see.

Thanks again for responding to my plea for help.