Hi Everyone, Here is another "Newbie" Cap 1 Question: I have a old Cap 1 un-paid charge-off for $994.00, opened on 03/97 and comes off all 3 on 04/2005. Should I dispute with all 3 first? Should I sent a settlement letter to Mr. Cooke for 50 % settlement and deletion tradeline? I have read about PFB, and I will also try that avenue. How hard is Cap 1 to delete from all 3? If I agree to settle the full amount, will they give me an unsecured card or can I get another secured card? Any help is GREATLY appreciated ... UNLV34
You should go ahead and dispute with all three CRA's. Mr. Cooke will not delete. The best you can hope for is R5. It is possible that if you agree to pay the full amount then Mr. Cooke may arrange to reinstate your card, I doubt it but I haven't actually dealt with him going on other peoples comments on the board. However, if he does decide to reinstate your card then that would be a good deal for you because it can't report as charge-off but it might still show the late history. I would just go with disputing with the CRA's first. See what happens and then try Mr. Cooke.
Hi Robin, Thanks for the advice. Since this is old, should I dispute the dates of payments, date opened or something other than "not mine"? Also, I was reading somewhere on here that they are very good with records. I no longer have the card (expired). If I have to settle the account, can I apply for another one once its settled? I will dispute with all 3 tomorrow morning. UNLV34
You can dispute whatever you want, but Cap1 will verify everytime, regardless of whether the information is correct or not, so it really doesn't matter. You will be lucky if you even get the R5. Usually they just promise R5 or change it for a couple of months then it goes back to an R9. Cap1 has no regard for the FCRA or the FDCPA. They think they are above the law.
Humm, cap 1 always verifies? I just received a deletion letter from TU for a paid cap 1 charge off from 2001. Am I to be concerned about reinsertion?
