@Anonymous wrote:
@RVG1 wrote:So here is my issue, in 2012 I had two Capital one accounts go into collections and then charged off. They were for a Capital One Auto loan for the hefty sum of $11,560 and a credit card in the amount of $1,143. They were never paid. Fast forward to earlier last year, knowing how forgiving Capital One is, i applied for a credit card again, and lo and behold, they approved me for $300. As it stands today, i now have 2 capital one cards in perfect standing, one for $500 and one for $300 and a checking account thru Capital One 360. My problem is those two old charge off accounts are still on my credit report and are updating monthly which is keeping my score low even though i have perfect payment history with all of my other accounts since i started the rebuilding process 3 years ago. My question is, will Capital one remove these accounts at all without me paying them off?? The auto loan is scheduled to fall off 2/2019 and the credit card on 4/2019. Even if i set up payment arrangements, it would take me longer than that to pay then entire balance. But it sure would be nice to see a jump in my score already... Im trying to buy a new car.
Am i being too overly ambitious?
Should i just bite the bullet and wait for them to come off on their own?
Im afraid that if i contact Capital One and ask them any of this, it may backfire and theyll close my current accounts.
Cap One is not known to remove accouns early, unless they are paid - and even then its uncommon. I doubt they will take any action on your current accounts, never have heard of them doing anything like that. You've got a little over a year on both, I would just wait them out and try for early exclusion from the CRA's. You can always refi into a new loan once these drop.
Agreed, its hard to even get them to remove a paid CO even in the last year of its reporting life.
@RVG1 wrote:So here is my issue, in 2012 I had two Capital one accounts go into collections and then charged off. They were for a Capital One Auto loan for the hefty sum of $11,560 and a credit card in the amount of $1,143. They were never paid. Fast forward to earlier last year, knowing how forgiving Capital One is, i applied for a credit card again, and lo and behold, they approved me for $300. As it stands today, i now have 2 capital one cards in perfect standing, one for $500 and one for $300 and a checking account thru Capital One 360. My problem is those two old charge off accounts are still on my credit report and are updating monthly which is keeping my score low even though i have perfect payment history with all of my other accounts since i started the rebuilding process 3 years ago. My question is, will Capital one remove these accounts at all without me paying them off?? The auto loan is scheduled to fall off 2/2019 and the credit card on 4/2019. Even if i set up payment arrangements, it would take me longer than that to pay then entire balance. But it sure would be nice to see a jump in my score already... Im trying to buy a new car.
Am i being too overly ambitious?
Should i just bite the bullet and wait for them to come off on their own?
Im afraid that if i contact Capital One and ask them any of this, it may backfire and theyll close my current accounts.
My lates are from 2014 and my accounts were not charged off because I was able to bring my accounts current. When I brought one account to zero, I merged the accounts. So I now have 1 account active with them (my oldest acct) but they will not budge on the lates. I will try again this year. Worst case, they will be removed in 2019-20.
Score: F8 EQ 609, EX 597, TU 614 (1/17) Current Score: F8 EQ 701, EX 714, TU 689 (12/18)
I would let them fall off. No calls no payments.
If they are not threatening you, let sleeping dogs lie.
