@RSX wrote:i think it is good news that it is a Porfolio Recovery Associates owned account - they Pay For Delete
call them and see if they will accept 40-50% of that outstanding balance (make sure you dont call until you have the money to pay on the spot)
this is potentially very good news for you
I have no interest in paying it off 6 years later. I'll rather wait one more year if it does go back up which by then they'd have no choice but to remove it permanently.
I just did some research and it seems the most common reason for a account to randomly come off like this is when the CA sells the debt to another CA. Which means the new CA will list it on their behalf real soon.
I guess I'll just wait and see what happens. Hopefully it doesn't come back.
@MarkyB wrote:
@RSX wrote:i think it is good news that it is a Porfolio Recovery Associates owned account - they Pay For Delete
call them and see if they will accept 40-50% of that outstanding balance (make sure you dont call until you have the money to pay on the spot)
this is potentially very good news for you
I have no interest in paying it off 6 years later. I'll rather wait one more year if it does go back up which by then they'd have no choice but to remove it permanently.
I just did some research and it seems the most common reason for a account to randomly come off like this is when the CA sells the debt to another CA. Which means the new CA will list it on their behalf real soon.
I guess I'll just wait and see what happens. Hopefully it doesn't come back.
Yea I was just about to post this. This sounds like the most likely scenario. There's no way the bureaus would give 1 year EE; they're not THAT generous. Lol.
@OmarGB9 wrote:
Yea I was just about to post this. This sounds like the most likely scenario. There's no way the bureaus would give 1 year EE; they're not THAT generous. Lol.
I hear you. I'm a fool for thinking they'd be that kind lol. I just found it interesting that it dropped off exactly one year before it's due for deletion. I have no idea why any company would buy a debt that's 6 years old. The likelihood of them recouping that money is extremely slim at that point. I'm hoping Portfolio is simply cleaning out their old files with accounts due for deletion soon. Time will tell tho and I'll keep you guys posted on any changes.
@MarkyB wrote:
@OmarGB9 wrote:Yea I was just about to post this. This sounds like the most likely scenario. There's no way the bureaus would give 1 year EE; they're not THAT generous. Lol.I hear you. I'm a fool for thinking they'd be that kind lol. I just found it interesting that it dropped off exactly one year before it's due for deletion. I have no idea why any company would buy a debt that's 6 years old. The likelihood of them recouping that money is extremely slim at that point. I'm hoping Portfolio is simply cleaning out their old files with accounts due for deletion soon. Time will tell tho and I'll keep you guys posted on any changes.
Well, not everyone is as credit savvy as those of us here on MyFICO, so some people WOULD indeed pay up.
@OmarGB9 wrote:
@MarkyB wrote:
@OmarGB9 wrote:Yea I was just about to post this. This sounds like the most likely scenario. There's no way the bureaus would give 1 year EE; they're not THAT generous. Lol.I hear you. I'm a fool for thinking they'd be that kind lol. I just found it interesting that it dropped off exactly one year before it's due for deletion. I have no idea why any company would buy a debt that's 6 years old. The likelihood of them recouping that money is extremely slim at that point. I'm hoping Portfolio is simply cleaning out their old files with accounts due for deletion soon. Time will tell tho and I'll keep you guys posted on any changes.
Well, not everyone is as credit savvy as those of us here on MyFICO, so some people WOULD indeed pay up.
I agree, imho I think it would be best to PFD and we know portfolio does this even with a settlement offer. It would suck for it to get sold and open up fresh, that would tank scores for sure and then to have to go thru the dispute process when it's time to delete if it doesn't drop. Also another factor for me is karma. To each their own and as I said this is just what I would do, no judgement!
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@RobynJ wrote:
I agree, imho I think it would be best to PFD and we know portfolio does this even with a settlement offer. It would suck for it to get sold and open up fresh, that would tank scores for sure and then to have to go thru the dispute process when it's time to delete if it doesn't drop. Also another factor for me is karma. To each their own and as I said this is just what I would do, no judgement!
There's no karma coming my way cuz I wasn't the one that burned them. Heck, I got burned alongside them. I took the L for the past 6 years, it would be foolish to wave the white flag now at the end of the tunnel. I'm not concerned with it tanking my score (I don't even have one lol) cuz once it drops off next year it'll bounce right back. You're not wrong in your thinking tho. That's how everyone should react. Take responsibility for your screw up and make it right. Unfortunately not everyone thinks that way. All you can do is live and learn.
I appreciate the feedback.
@MarkyB Have you checked the Statute of Limitations on collecting on that debt? Aside from it dropping off the credit report I would make sure they can't take you to court and get a judgement.
Hey guys. So I went on the capital one app and tried setting up my online account without receiving my card yet. They asked for my last name, dob and ssn. My new secured card account popped up so I clicked it and then the next page showed my old username account that I had set up for my cousin at the time with the 360 checking. It's basically forcing me to link my new card to that online account. Is there another way to create a whole new account? I'm surprised they still have that username saved. I don't even know the password since my cousin had sole access to it. I will try making a new account if possible, but the method I tried forces me to use the old online account username.