On my latest Experian CR An old Cap One account reads like this: Date Opened: 11/2001 Reported Since 11/2001 Date of Status: 5/2004 Last Reported: 11/2007 Account History Charge Off as of Nov 2007, Oct 2007, Sep 2007, Aug 2007, Jul 2007, May 2007, Apr 2007, Mar 2007, Feb 2007, Jan 2007, Dec 2006, Nov 2006, Oct 2006, Sep 2006, Aug 2006, Jul 2006, Jun 2006, May 2006, Apr 2006, Mar 2006, Feb 2006, Dec 2005, Nov 2005, Oct 2005, Sep 2005, Aug 2005, Jul 2005, Jun 2005, May 2005, Jan 2005, Dec 2004, Sep 2004, Jun 2004 to Aug 2004, Apr 2004 180 days as of Apr 2004 150 days as of Mar 2004 120 days as of Feb 2004 90 days as of Jan 2004 60 days as of Dec 2003 30 days as of Nov 2003 It appears that the account was charged off Nov 2007, Or Am I reading this incorrectly ??? Can someone please help I do have older CR reports and the charge off date is 2004. Capital One has me so confused
Based upon your information, the Charge Off date is April 2004. They are saying it is still running as a "Charge Off". The way to "evidence" damage here, is to get your "FICO" score, and then call and ask how they are "valuing" this account for the score calculation. If they say they are rating it as a Charge Off" as of Nov 2007, then you have damages against Cap1.
Thanks I ordered my FICO score free trial, it only supplied me my fico score for Equifax The details are Credit Account Cap 1 Bank Status as of November 2007 Date opened [?] Nov, 2001 Date of last activity [?] Jul, 2003 Largest past balance [?] $655 Credit Type [?] Revolving Account holder [?] Individual Scheduled payment amount [?] $0 Balance [?] Current Status [?] Past Due Amount [?] $1,251 Bad debt/collection $1,251 Seven year payment history [?] 30 days late 1 time 60 days late 1 time 90+ days late 4 times (Apr 2004, Mar 2004, Feb 2004) It appears to me that the date is 2004 or is there more information I should find out ?
And one more thingl I mentioned this in another thread, on a different CR report I received about a week ago, they have this account listed as 1st delinquent in 2007. It's so confusing, someone mentioned that they are trying to re-age this account, and although it said it's has been charged off in 2004, when I disputed it with the CRAs Cap One is verifying this account the CRAs
Per this information, your "Charge Off" date looks like it should be Jan 2004; (Date of last payment July 2003 + 6 months = Jan 2004). You may want to dispute this as "inaccurate" Charge Off date.
Okay please excuse if I'm repeating the same questions, but it appears that there are numerous errors here on the CRAs behalf. wrong charge off date, and the fact they listed the 1st delinquent date as 2007 on a different report that I previously received. And if this is the case why is the amount still accumulating since 2004 until 2007, if they charged off in 2004 is it correct to say the balance should still read the same fromk 2004, until now ? Thanks in advance
Welcome to credit repair! Over 80% of all reports have errors.. You will need to dispute these errors with the credit reporting agencies, follow the directions that came with your report(s), or go on line and follow the instructions for an on-line dispute. It looks like Cap1 is "holding" this account, as an "in house collection". They are letting the interest run, (which legally they can do), but you should be looking to settle this somehow. The question becomes, did they truly "charge this off" on thier financial books? That is a complicated issue, so leave that for later. There are two issues here, the debt, and the reporting. For starters, dispute the acounts as "inaccurate and incomplete" with the credit reporting agencies. But the debt itself is not going to go away, you will have to deal with this at some point. Cap1 is very hard to work with as far as "reporting", they do not budge. Start thinking about ways to possibly pay this off. You may want to try a "settlement" for a reuced amount.
Is there some sort of violation they committed by first reporting this as charged off in 2004, then reporting it as first delinquent in 2007, and charged off in 2007, I understand it is very complicated. I've been reading through the FDCPA, but the tricks with the dates I'm not understanding, but I feel before I admit to anything, or try to settle, I may be able to catch them with a few violations, I think ??
You also have to read the FCRA (Fair Credir Reporting Act). There is a violation here called "reaging", there may also be a violation of NOT reporting the "Date of First Major Deliquency", there is a requirement to "furnish" this date for credit reporting within 90 days of charging off the account. The date also must be no later than 180 days past the date the account FIRST became deliquent, AND was NEVER brought current.
