I have a chargoff TL with Capital One that's 6 months away from the SOL for collections. The orginal debt was $4K, Cap1 now reports it as $8K because they illegally add interest in violation of the FDCPA, but that's another thread... The last collection activity I saw was a phone call from OSI about 18 months ago. OSI is now bankrupt, so I don't know who, if anyone, is collecting for CAP1. 1) Does anyone have a feel for how Capital 1 handles accounts this old? Do they jump out of the dark and file suit at the eleventh hour, or have they truly given up? 2) I was really hoping to clean up this TL on my CR. Do I just grin and bear it until the SOL is up and then chase the OC or do you think I should go after them now. If so, do I try to contact OSI, or what? This could make for a very easy estoppel, no doubt. TIA, Jeff
cap 1 has a very bad reputation of ripping consumers off, in my OPINION from my personal Experience they willfully ignore your rights, violate the FCRA have been sued XXX from many consumers, but they will still report inaccurate information to the CRA regardless of the SOL and reage the debt not to mention up your balance each month with no proof. best advise I can give anyone here. Contact the FEDERAL RESERVE in Richmond, VA and File a formal complaint online or by fax, mail. they will investigate it and give you a written response that may resolve your issue or help in the future if court is necessary. at the same time file a complaint with the Richmond Better business bureau ( that bbb) is the one that is next to cap 1 corporate office and will get a response from you from cap 1 which may help you as well. again this only my OPINION here. as far as your delimma its a hard call dont expect cap 1 to do the right thing and good luck with the CRA you may end up pursing a lawsuit unless you have written proof of the age of the debt or what is being reported is wrong.
Let sleeping dogs lie for six months. Once the SOL has past, see if you can get it deleted. With only six months to go, I'd wait. If they do anything at all, THEN go the validation route.
