I have two old Cap1 cards that were sold off. One to a "lawyer" and another to an agency. Neither are showing on my report. The lawyer one doesn't even show Cap1 either. If I remember, both Cap 1 cards showed on the report at some time. The lawyer agency has had the account since it was sold off in like 2019.
The agency one has been paid off, I think I did a $500 discount with that. The agency never showed up on my report nor did they report any payments or such on my credit, fine and all. Cap1 still shows as being sold off with a balance. Do I contact Cap1 to get it updated as $0? How long should I wait for it to be updated before I contact anyone? It was fully paid in October.
@CrimsonMoon93 wrote:I have two old Cap1 cards that were sold off. One to a "lawyer" and another to an agency. Neither are showing on my report. The lawyer one doesn't even show Cap1 either. If I remember, both Cap 1 cards showed on the report at some time. The lawyer agency has had the account since it was sold off in like 2019.
The agency one has been paid off, I think I did a $500 discount with that. The agency never showed up on my report nor did they report any payments or such on my credit, fine and all. Cap1 still shows as being sold off with a balance. Do I contact Cap1 to get it updated as $0? How long should I wait for it to be updated before I contact anyone? It was fully paid in October.
I take it they were charge offs not sold off. Your lucky they arent showing. It usually takes 30-60 days to update. Dont dispute anything and let things ride out. When was the other one charged off. You say one was 2019.
Uh i think they were charged off roughly the same time. I was expecting my score to raise once I paid off the one account and it hasn't moved. I figured it was because nothing updated.
What about the other one. Once both have $0 balance it will help your util %. But the CO ding will hamper scores till they fall off that is if they are still showing. But beware they may pop back up after settling them. Least they'll be done with.
@FireMedic1 So one Cap1 card, sold to WWR (probably a Cap1 division), had a balance of 3300 in Nov 2020, this does not show on my report.
The other cap1 card that does show on my report is 2108, charged off May 2018.
They were both probably charged off the same time, I don't remember.
I paid on the 2108 (which was given to Midland) and I paid a total of 1535. I'm pretty sure we did a $500 off deal when I began paying, which would equal out. This is the one that does show on my report that I have completed payment on, but the one above does not show on the report.
Obviously, I'm not doing anything with the 3300 one as you can see hasn't been touched. But this one that has been paid off, when should I expect it to be reported as $0? Once it shows zero, ( I think I asked this before) does Cap 1 do a delete? Also this is being reported as Cap1, not Midland.
Usually 30-60 days after settlement. Cap1 wont do a delete on a CO. Never been done that I can remember. Heck a 30 late takes a miracle.
@FireMedic1 wrote:Usually 30-60 days after settlement. Cap1 wont do a delete on a CO. Never been done that I can remember. Heck a 30 late takes a miracle.
In my personal experience, they (Cap One) actually deleted their CO TL as soon as they sold off the debt to PRA. But from what I've seen here on MyFICO based on other DPs, if Cap One didn't delete their TL upon selling the debt and kept on reporting, then no, they won't delete their OC TL at all, like you're saying.
@FireMedic1 when would you suggest I reach out to Cap1 for them to report $0? It's been about two months since I paid it off.
Its a little confusing. So really this is the problem?:
"I paid on the 2108 (which was given to Midland) and I paid a total of 1535. I'm pretty sure we did a $500 off deal when I began paying, which would equal out. This is the one that does show on my report that I have completed payment on"
Midland should have deleted themselves. And Cap1 should be showing a zero balance especially if they sold it to Midland. If they still owned it and had Midland collect for them. Either way Cap1 should show $0 balance. Its been paid. If its been 60 days. Time for a dispute that you paid it.