My Cap1 EO rep was incredibly patient and helpful, but I'm still left with a bit of confusion.
I have two Cap1 CC accounts, each with some lates between 2009 and 2011 or so. One of the accounts was a charge off and listed on my CR as "account legally paid for less than full balance". This was in March 2010.
The rep basically said the following:
1. The lates will drop off but they couldn't do anything for me there
2. The chargeoff is such that Cap1 considers the debt legally paid in full and there's nothing more to collect
He also said re: #2 the best course of action is to simply wait for this to fall off as well (I'm assuming in the next 24 months).
Is it worth trying to get them to do a pay for delete? He's been really helpful but I also don't want to push my luck. I've read elsewhere that any kind of further activity (including them just changing the notation to "closed" or "paid") would reset the 7 year drop off. Should I just wait it out? Beyond these two accounts I have great credit, a combined CL in the mid 5 figures, flawless car payment and student loan history, etc. I just don't want to risk doing anything that might have unforeseen negative effects. I'm preparing to do the mortgage thing in the next year, which is why I'm concerned. In another thread, folks recommended settling the balance as underwriters would insist on me doing so. But, in that sense, Cap1 considers the balance settled, and is reporting it as such...
