Should I pay cap1? It's not on my CR and I'm worried it will show if I pay it.

[Anonymous]

I owe capital one 400. They aren't reporting on my credit report. The account is closed and past due by about 5 months. I want to pay them off but I'm scared that they will report the pay off to the credit bureau's I'm also scared that if I don't pay it they will send it to collections and that will end up on my credit as well. I'm trying to get my credit together to buy a house and I'm scared I will make the wrong decision. Any ideas?

[bigbearmomma]

I think you should contact Cap One immediately and pay the full amount plus the interest you owe. I would ask Cap One to not report the account as derogatory which they might or might not agree to. But I think at this point, they can report it anytime and with 5 months behind, that is a major derog and your credit score will get a big hit, not to mention how it will weigh it down for a long time... I don't think you have much leverage here and the more you wait, you are risking it appearing on your three bureau reports. At least, if it is paid now and show up later, it will show 0 balance owing. I am sure there are wiser advice from others. But that's what I think I would do if I were you. Good luck.

[Anonymous]

Hello, can you explain what you mean by its not on your credit report? This is for a credit card account correct? Is the original trade line still in your credit report?

At 5 months late, your account is well past due and in charge off territory. There are a couple posibilities that I can think of, but I think its in your best interest to reach out to Capital One and attempt to pay the past due amount. 

If you no longer see your revolving Capital One account on your reports, there is a chance that they closed the account and have already sold it to a collection agency. 

Reach out to Capital One and discuss your repayment options. 

[OmarGB9]

Do you still have access to the account online? If so, if it's charged off, there it would say so. If it's not showing on your reports, they may have sold it to a collection agency already and the CA just hasn't contacted you yet. Definitely ask Cap One what's up.

[Anonymous]

I'd negotiate a PDF with them. You`ll pay the $400 if they don't report it to the credit. Send this via mail CMRR.