I have an old Capital One account (high balance of $1287) which I had settled and paid for back in April 2000 (to their collection department) for less than what I owed. On my credit reports it's showing just that...paid for less than amount owed - collection account - closed. What are my chances with Capital One in asking for a deletion of this tradeline on my credit reports? In the past, I have read that Capital One are really difficult to deal with and they don't budge at all when it comes to requests like this. Has anyone had any success with them lately? How about with American Express or Chase? I have similar situations with these creditors, as well. I really would like these tradelines deleted from my credit reports - I'm pretty sure they are weighing down my credit scores.
Dispute the tradeline through the credit reporting agencies. Pintpoint certain dates as inaccurate and do the same as for the date of status/date of initial delinquency. Capital One will do one of the following: 1) fail to verify the account (not likely); or, 2) verify the account but, not mark it as being in dispute. There is authority which states that this is a violation of the FCRA insofar as it is both inaccurate and incomplete reporting. Assuming arguendo that Capital One performs under option 2, submit a complaint to the Virginia Corporation Commission on the above premise. Your account tradeline will be removed shortly thereafter.
