How do I take care of this?

gloverkevin · ‎03-30-2025

How do I take care of this account. It doesn't show on any of my credit reports but it's been charged off since 2018 and I want to re-establish a relationship with Capital One. I only have the Kohls card with them but I got it due to Kohls merging with their network. I can't even apply for any Capital One cards. If I pay off this charge off, will I be able to start bulding a new relationship with them?

GZG · ‎03-30-2025

@gloverkevin wrote:
How do I take care of this account. It doesn't show on any of my credit reports but it's been charged off since 2018 and I want to re-establish a relationship with Capital One. I only have the Kohls card with them but I got it due to Kohls merging with their network. I can't even apply for any Capital One cards. If I pay off this charge off, will I be able to start bulding a new relationship with them?

did you contact them, did they not have info for the collection agency it was sent to?

Starting FICO 8:

Current FICO 8:

0/6, 0/12, 4/24 new accounts

Creditwiser · ‎03-31-2025

You can call them, make arrangments to PIF. Although when you poke this bear, you're now at risk of awakening this case and subject to Credit Reporting. If it was not on my CR's and they havn't contacted you , ask yourself if you really want this card . No way of knowing this outcome.

bass_playr · ‎03-31-2025

Hiya,

First, I would not worry about credit reporting, since a card gets charged off usually around 6 months after first going delinquent. And since you said it was charged off in 2018, it's going to be either already past the SOL for reporting or very close to it. So, if it did go on your credit reports, it cannot stay on very long. Depending on exactly what month in 2018 it was charged off, it either cannot go on your credit now or would only be reportable for a few months. Also, if it did show up on your credit, it would show up as a charged off account with a zero balance owed. That's the only way Cap One could legally report it. Now, if the new creditor decides to report it, they will do so with balance info showing it as a collections account. But again, I would make sure you know the month it was charged off--many debt buyers sometimes break the law when it comes to reporting past the SOL.

Next, contacting Cap One would be fruitless in this situation in my experience because Cap One will simply tell you the same thing that this message tells you--that they no longer own it, and that whoever the new creditor is will contact you. You cannot pay them because once it is acquired by another party, Cap One has zeroed out the account on their books and can no longer take payment for it since they no longer own it.

Unfortunately, even paying off the new creditor won't affect Cap One's decision. You may just have to wait this one out a bit longer. I know that eventually, Cap One would consider you again because they did for me several years ago.

BallBounces · ‎03-31-2025

I am curious, why do you want to "build a relationship" with Capital One Credit? Whatever that in fact means.

FICO 8 Scores for March 2025:

Do you know your SuperFICO?

Seatac · ‎04-12-2025

Step very carefully here.

Find out from your credit reports what the DOFD is on the charged off account.

The DOFD is what sets the Statute of Limitations for them to sue you AND for reporting to the CRAs.

If you contact them BEFORE the SOLs Run out they MIGHT claim your contact reset the SOL as it was admitting you owed the debt.

If I were you I would find out the DOFD, then add a FULL YEAR before I did anything. Then I would look to see what cap 1 says. If the message is still there contact a lawyer to negotiate a deal.

I find the wording ODD for an account they have SOLD. It implies they are somehow tracking what you do with the vultures that bought the debt....very odd.

bass_playr · ‎04-12-2025

@Seatac wrote:
Step very carefully here.

Find out from your credit reports what the DOFD is on the charged off account.

The DOFD is what sets the Statute of Limitations for them to sue you AND for reporting to the CRAs.

If you contact them BEFORE the SOLs Run out they MIGHT claim your contact reset the SOL as it was admitting you owed the debt.

If I were you I would find out the DOFD, then add a FULL YEAR before I did anything. Then I would look to see what cap 1 says. If the message is still there contact a lawyer to negotiate a deal.

I find the wording ODD for an account they have SOLD. It implies they are somehow tracking what you do with the vultures that bought the debt....very odd.

I must ask, where exactly are you coming from with some of this post?

First, the DOFD is already apparently known to the OP since OP said it was charged off in 2018. From charge-off, it can be reported for a maximum of 7 years on credit. As for SOL for suing, that varies from state to state. According to this consumer law attorney site, there are only two states whose credit card debt SOL's are more than 6 years--10 years for Rhode Island and 8 years for Wyoming:

https://consumerlawfirmcenter.com/statute-of-limitations-on-debt-by-state/

If OP doesnt live in one of those two states, then a DOFD in 2018 puts this debt outside the SOL for suing. There's nothing to tread carefully about when it comes to trying to sort it out aside from restarting that clock, and each state is specific in how that may occur.

Also, there's nothing "odd" about how Cap One has this notation when he tries to view his account on their site online. They notified him that it's charged off and was "acquired by another party". That is a description of an account that Cap One no longer holds. If they still owned it and had only hired a debt collector to collect on their behalf, then that party would not have "acquired" it....they would only have authority to collect for Cap One. That's pretty basic language. No mystery there.

Lastly, not one word of this "implies they are somehow tracking what you do". It's a simple statement that another party acquired a charged-off account. Nothing more, nothing less. Please, explain how you arrive at that conclusion based on this wording.

Seatac · ‎04-12-2025

I stand by my advice to trade carefully and to know his exact DOFD.

For lawsuit purposes the SOL for credit card debt is typically 3 or 6 years. Yes a couple states are odd. For credit reporting purooses it is 7 years.

They both trigger on DOFD. The OP says this was sometime in 2018. This is 2025. Without the exact date he may prematurely and by accident reset the SOL by acknowledging the debt and have it on hos credit report for 7 more years.

As for lawsuit SOL, the vulture nay claim that the SOL was tolled. We don't have his details like state, how or if any legal/ court notices he has received we cannot tell from the post if the court has tolled the SOL Since we don't know this info, you might want to guess one way or another I chose to warn him to step carefully

THE wording I find odd is the screen Cap he provides.

Since cap 1 is lenient ( compared to others) with BK and written off accounts, if they are not in some way tracking him then he will never be able to apply as that message will appear...that is unless there is some type of tracking, even a simple timer that follows his ssn.

It's great you don't think it is odd, I do and stand by the statement

Have a nice nught

vntrsc · ‎04-13-2025

@Seatac wrote:
I stand by my advice to trade carefully and to know his exact DOFD.

For lawsuit purposes the SOL for credit card debt is typically 3 or 6 years. Yes a couple states are odd. For credit reporting purooses it is 7 years.

They both trigger on DOFD. The OP says this was sometime in 2018. This is 2025. Without the exact date he may prematurely and by accident reset the SOL by acknowledging the debt and have it on hos credit report for 7 more years.

As for lawsuit SOL, the vulture nay claim that the SOL was tolled. We don't have his details like state, how or if any legal/ court notices he has received we cannot tell from the post if the court has tolled the SOL Since we don't know this info, you might want to guess one way or another I chose to warn him to step carefully

THE wording I find odd is the screen Cap he provides.

Since cap 1 is lenient ( compared to others) with BK and written off accounts, if they are not in some way tracking him then he will never be able to apply as that message will appear...that is unless there is some type of tracking, even a simple timer that follows his ssn.

It's great you don't think it is odd, I do and stand by the statement

Have a nice nught

You stated:

"Without the exact date he may prematurely and by accident reset the SOL by acknowledging the debt and have it on hos credit report for 7 more years."

While a state's SOL might be reset by acknowledging a debt, it does not reset the 7-year reporting period.

See 15 U.S. Code § 1681c(c) of the Fair Credit Reporting Act (FCRA).

(c) Running of reporting period

(1) In general

The 7-year period referred to in paragraphs (4) and (6) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

It specifies that the reporting period starts 180 days after the "delinquency" that "preceded" collection or charge off. That means there must have been a late payment or nonpayment that occurred before collection or charge off.

A delinquency can only occur if an account is current. As stated in § 1681c(c), a delinquency must occur before ("preceded") charge off. Once an account is charged off, it is permanently delinquent. It can never be current again.

Therefore, the delinquency that came before charge off has already occurred. There can never be another delinquency that takes place before charge off.

In regard to acknowledgment, an acknowledgment is not a delinquency. There is nothing in § 1681c(c) that indicates anything other than a delinquency before collection or charge off triggers the 7-year reporting period.

From the 9th Circuit Court of Appeals in Gonzales v Arrow Financial.

"As there is no circumstance under which Arrow could legally report an obsolete debt to a credit bureau, the implication that Arrow could make a positive report in the event of payment is misleading."

From the 7th Circuit Court of Appeals in Gillespie v Equifax.

"The seven year period begins to run 180 days after the account is placed in collection or charged off by the creditor so the effective result is a seven and one-half year period from the original delinquency. 15 U.S.C. § 1681c(c)(1)."

Seatac · ‎04-13-2025

I stand by my advice that you seem to be arguing he shouldn't take care is bizzare and suggests you are just looking to create conflict.

I can point to six people in my orbit faxing the same challenge for making tge mistake o warn him about.

BTW neither opinion you cite is controlling so get over that ball of twaddle.

If you don't like my advice don't take it and move on.