cap 1

Discussion in 'Credit Talk' started by popnsan, Feb 9, 2001.

  1. popnsan

    popnsan Member

    I just recently married a young lady and we recently ran a three in one credit report .Both equifax and trans union reported a charged off capital one credit card account with the balance being $4000.Both reports showed she opened this account in Sept of 1996.I immediatly asked her about it because we were dating at that time and I wasn't aware of her having a capital one credit card.She told me she did have a credit card when she was in college but that was around 1990.She searched her records and found a credit report she obtained from equifax in Jan of 1998 showing a balance of approx $ 2000 being charged off with a open account date of 1990 and a last activity date of 05/93 which would have cleared off of her report in 2000.When we compared the old credit report and the new one the older report listed a different account number than on the newer report.I asked my wife did she open up a new account in 1996 and she said no,you would think that a company who had already charged off one account would not allow you to open a new one.So we thought it was a error and we called equifax and Trans Union to dispute the newer account as not being my wife's.We sent copies of the old credit report showing the original credit account that she was willing to admit she had.We got both investigations back stating that the information being reported was correct as well as the balance now due was almost $4500.Not only that the account which was reported as charged off now is being reported as written off as on Jan 2001,coincendently the same time we disputed it,can anyone tell me what is the difference between having a charged off account and a writeen off account.And if and account is charged off do interest still accrue.What looks like is happening (I don't condone not paying any debts)is capital one changed the reported info on the account solely to extend the lenght this negative item would remain on my wifes report. I am willing to pay them if she owes this debt but the problem I have how the large companies can manipulate the system at will.When I bought this to the attention of both CRA they say the creditor can report what they want to and you will have to get it cleard up through them.Can anyone give me some advice on how to deal with this situation and is there any legal action I can pursue angainst this company for there practices .
  2. Donna

    Donna Well-Known Member


    I see no one has tackled your Capital One problem yet so I'll jump in. Hopefully, some of the experts will throw in their two cents worth, too.

    I didn't fully understand. Are both accounts still being reported on Equifax and Transunion? The Cap One card that was charged off in 93 should be off of both by now. Since the seven-year period is up, ask the bureaus to delete it. That should be pretty simple and straightforward.

    To do this, you can either call or write. If you choose to send a letter, make sure to send it via certified mail.

    What I'd probably do is get the oldest Cap One account deleted first and then you can work on the second. Of course, you could dispute them simultaneously but I'd be inclined to take the one-at-a-time approach.

    Immediately, I'd get in touch with Cap One and start disputing the 96 account. Send them a prove it or remove it letter. Demand that the account be validated. If Cap One can't show proof that the account belongs to your wife, then it has to be deleted. If you need samples of validation letters, we can direct you to those.

    Good luck. I hope this helps a little.

  3. Marie

    Marie Well-Known Member

    I'd be more aggessive and do both at once because he's splitting up his approach so there's no downside:

    Dispute old Cap1 directly w/credit bureaus.
    Make Cap1 validate the 96 debt.

    Good advice Donna. Remember, if it's not in writing it doesn't exist.. expecially w/validation letters! You do a prove it or lose it letter w/30 days to do it... then a 15 day (since you didn't validate last try or it doesnt exist) letter... and these letters will help protect you.

    If Cap1 doesn't respond and then you demand tradeline removals and if it haunts you later (Eg: they try to go to collections or to get a judgement) you have a BIG defense that you've already proven it's not hers b/c Cap1 didn't validate the debt when requested. I agree w/you about trying to pay as many valid debts... but it also sounds like CAp1 may not be playing fair w/you and just hoping you have no clue what your rights are.

    FOr sample letters: in the last day or 2 we've posted several under "validation" and has some NICE letters too! Good luck ;)

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