I have two Cap 1 accts that were last paid on in 8/2005 they were then charged off and closed by Cap 1 in 3/2006. They are now posting on my credit reports at CO each month and on EQ 90+ days late. They just started doing this again in Jan 2008, right as I was applying for a new home loan. Dropped my credit score 35 pts. Can they still be reporting every month if the account is closed? Thanks for your help
I think they are with in their rights to do that. I would wait for someone more knowledgeable than me to reply. I also has increased/regular reporting activity from Crap1 and amex and citi since Dec 2007 - all of them COs. I initially thought that it was b'cos the accounts were getting close to SOL, but apparently it's just that they all decided to report COs every month. Wonder Why?
anyone else have any thoughts. Can they still show up as 90+ days even if the acct is closed and charged off.
They cannot report the account as ninety days past due and if my hunch is correct, the OP is looking at True Credit. It can only report as a charge off, an r-9 rating and the pay status should reflect charge off. Not 90 days past due.
