Newbie - Captial One question

Discussion in 'Credit Talk' started by rhondak, Aug 26, 2003.

  1. rhondak

    rhondak Well-Known Member

    Hi, I'm a newbie.

    I've actually been working on cleaning up my fiance's credit, not mine. Long story - tell later.

    I have read through the FAQs and PsychoDoc's newbie page.

    I started the disputing process a couple of months ago before I found this site. I was able to get quite a bit of derogatory items off of his reports and only have a few stubborn ones left.

    One of them is an old Capital One account. I believe it's passed the SOL. It's the only item that is still on all 3 CRAs.

    I've already sent the letter asking for validation, but now 1) I'm wondering if I even should've done that since the SOL is past. and 2) I saw on another website someone who tried to sue to get CapOne off of their credit report and ended up paying not only the old balance due, but additional finance charges (after their charge off) AND attorney fees! I have to admit that scares the hell out of me.

    last activity on the account is 01/01. SOL here is 3 years. (SC). Balance shows $815 on EQ, $806 on TU, and $733. All 3 CRAs have "verified".

    Thanks and good to meet you all!
     
  2. rhondak

    rhondak Well-Known Member

    Captial One question

    Bumping this.

    Also, wondering if anyone has ever settled with Cap1 in exchange for cleaning up the credit reporting?

    What I'm thinking is this; since this is past the SOL for my state, I know they can't collect. BUT if I want to get it off my credit report, would it behoove me to offer to pay it in exchange for them reporting it as never late, paid as agreed, or removing completely.

    Has anyone ever tried anything like that with Cap1? The balance really isn't that much (around $750) and I don't mind paying it, but I don't want to "re-age" by making a payment, and I don't want to self-verify by offering to pay.

    Any advice?

    Thanks,
    R
     
  3. jlynn

    jlynn Well-Known Member

    Re: Captial One question

    If the last activity is 1/01, and the SOL is 3 years, my math says its not out of SOL until 1/04. Typo maybe?

    Cap One is real hard-nosed from what I have heard
    :(
     
  4. lbrown59

    lbrown59 Well-Known Member

  5. rhondak

    rhondak Well-Known Member

    Re: Captial One question

    Hi Jlynn

    I realized that after I posted. It depends on which CRA report I look at. The dates are different on each of them (so are the balances). I also found a letter from a CA for them from back in March that has yet a different balance.

    From my understanding, (from one of those combined reports I bought when I first started this) the acct was opened in 3/2001. Only 5 pymts are recorded and only on Experian - the other 2 don't report any payments at all. EXP shows first payment before acct was opened.

    What's really screwed up is that even though EXP shows the acct opened in 2001, EQ shows opened in 12/00 and last activity as 01/01. But you're right, it's still a few months until that 3 years hits.

    TU shows charged off 01/2002 and EX shows charge off 3/2002. EQ says "closed by credit grantor" but no date.

    This is the only derog that still shows on all 3 CRAs.

    I did send a validation letter, so that should prevent them from collection activity until they validate, correct?
     
  6. rhondak

    rhondak Well-Known Member

    Re: Captial One question

    PS I did read that post about "success with Capital One" the other day, but I got the impression that it would be back on when Cap1 updated.
     
  7. whoopi

    whoopi Active Member

    Re: Captial One question

    no it won't be back on my report, trust me


    thanks,
    whoopi
     
  8. rhondak

    rhondak Well-Known Member

    Re: Captial One question

    That is very cool. I hope I eventually have the same success. Did you use the letters from here, or did you just dispute with the CRA? When you got the hard delete, did you send one of the letters from here about re-insertion certification?
     
  9. whoopi

    whoopi Active Member

    Re: Captial One question

    no i did not use letters from here i just did an online investigation from equifax and transunion. experian is giving me a hard time as usual.
     
  10. SoParkDiva

    SoParkDiva Well-Known Member

    Re: Re: Captial One question

    What makes you so sure it won't be back on? I mean you still owe the debt and the SOL is not up?
     
  11. whoopi

    whoopi Active Member

    Re: Re: Captial One question

    i got a letter from them that says they can not verify current information on the account so therefore they must delete. Everything must be 100% accurate.


    Thanks
     
  12. jlynn

    jlynn Well-Known Member

    Re: Re: Captial One question

    You need to clarify somehow these dates.
     
  13. rhondak

    rhondak Well-Known Member

    Re: Re: Captial One question

    I did send a validation letter to Cap1 and haven't heard back from them yet. But I'm not disputing just the dates, but general validation that it's even mine.

    All the dates and balances are different on each of the CRAs.
     
  14. lbrown59

    lbrown59 Well-Known Member

    Re: Re: Captial One question

    but I got the impression that it would be back on when Cap 1 updated.
    rhondak
    ============
    Possible but not a sure bet.


    THE END ** *** ** LB 59
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