I have 2 chargeoffs from Cap1, one with a DOFD in 8/2005 and one with a DOFD in 9/2005. Both of these are outside the legal SOL, but wont be falling off my reports until 2012. I did the ol "not mine" dispute (huge mistake i know now) a few months ago...and that seemed to wake them up because now they are reporting a chargeoff each month and also adding a few bucks to the past due balance each month. Strangely enough, I was approved online for an unsecured card from Cap1 this past February. I can't believe that when they review my reports each month, they don't notice the old chargeoffs? If they did, I would think they would close my new credit card account with them, no? I have researched OC Debt verification letters and it seems the verification of debt request to an OC is a good weapon, in that the OC generally doesnt keep records for a long period of time, and according to the FCBA, they need to provide details of the account if they are going to report to the CRA's Should I try to get these chargeoffs removed via the FCBA verification letter in hopes they just dont want to produce the information and will delete the tradelines from my report? IF so, am I risking them a) closing my new account, and b ) them sueing me, even though I am outside the SOL. I just rather not have to deal with it, even though I would have a good defense. On the other hand, I was also told the age is probably mitigating the past due balances that are reporting from these chargeoffs and thus not having much of an effect on my fico score...., but I just hate seeing these 2 chargeoffs and can't help but think it's ruining my fico score. I am close to being "baddie" free, but these 2 chargeoffs are giving me a headache
I don't know who told you OCs don't keep good records for a long time. I've found the opposite to be true. Most OCs have the detailed records and long memories.
Ya I don't know.. seems to me, if the OC kept good records and had a long memory, they wouldn't have extended me new credit
Where, pray tell, did you get this information? Debt "verification" (I assume you mean "validation") is only applicable to 3rd party debt collectors, according to the FDCPA. You will get nowhere requesting validation from an original creditor.
Wow, I guess I came to the wrong forum. Did you read Psych Doc's seminar's? You might wanna check the difference between validation and verification and how the FCBA relates to the OCs reporting requirements.
