I have an old (6 year) CapOne Paid Collection - Need Help with Removal

[Anonymous]

Hello All!

I have an old collection from CapOne that went bad during the 2013 recession.  I have two CapOne cards in great standing.  I've tried over the years to get it removed from my credit file.  Does anyone have any insight or tips and tricks to get this one blemish off my credit file?

Thank you in advance.  

[RSX]

Is there an outstanding amount?  If so, you can pay it and it will lessen the score hit

i think they drop after 10 years

[Anonymous]

No, Its paid in full. 

[RSX]

That's good news

i believe it is 10 years for a CO to drop.  So 2023

[Anonymous]

I believe that is 7 years plus 180 days.  I'm trying to get it off early... any advice is greatly appreciated.  

[RSX]

There are GW options, but I didn't mention them, since most posts say that Cap1 rarely does them.  

I will leave this to someone else to weigh in on.  

[calyx]

Paid in full is good - at least it's not updating to damage your file

For Charge-Offs - the exclusion/fall off date is 7 years from DOFD.   If it's a Collection Agency reporting - then it's 7y + 180d, but the CRAs often exclude them at 7y (internal housekeeping is easier, I suppose?).

Do you know your DOFD?  Transunion will do an early exclusion at 6 months before the fall off date, EX will do one 3 months (but the success on this is mixed, I was burned, so I don't recommend), and EQ supposedly does a 1 month, but most people let it fall off at that point, because EQ can be really difficult about it.

Cap1 rarely does goodwill deletions, but you can try using the saturation technique (found here in the forums).

[Anonymous]

With this being at 6 years you might want to consider waiting for it to fall off.