Hello, The abundance of helpful info on this site can be quite overwhelming...after putting things off for a bit, I'm trying again (I know we all have our own story...cry me a river right!?). Couple questions: Capital One seems to be selling and maybe even buying back an old debt, probably originally charged off in early 1998. They seem to be misleading in their reports to CRAs as it has a new date of 2002 and a new, more recent charge-off date within the last year. Plus they've tacked on an additional $200 in the last couple years. I will be applying for low income housing in January and this makes it look as if I have a new bad debt, which will disqualify my housing. I believe according to the 7yr rule, this should be dropped from reporting within the year, but that will be too late... 1)HOW CAN I GET A HISTORY OF THIS CREDIT ACCOUNT, FROM APPROVAL DATE TO ORIGINAL DISCHARGE DATE? I'm afraid to contact the Creditor because I don't want it to re-open the account, but I need to show that this debt is over 5 years old. 2)IS CAPITAL ONE ALLOWED TO REPORT THE DEBT IN THIS MISLEADING WAY? AND IF NOT, WHAT LETTER DO I SEND TO THE CRAs TO GET IT CORRECTED. 3)CAN OC CONTINUE ADDING ON INTEREST AND FEES TO A CHARGED OFF ACCOUNT FOREVER? Thank you, I appreciate any input.
First thing you can do is to demand validation from the collection agency that Cap 1 has assigned it to, if they have. I believe that original creditors (OC) are not required to provide validation of a debt as CAs are, so if Cap1 is attempting to collect on it themselves you can write CRRR to demand copies of past due statements, but they may not send it to you. Second, dispute the debt through the credit bureaus, If it comes back "verified" with the new dates, follow Butch's directions on how to demand procedures. Also, do a search on this forum for reaging, which is an illegal practice, and how to correct and/or threaten the OCs and CAs properly. Last, yes, they can add on whatever they want. However, if your date of last activity truly was in 1998, you are most likely well past the statute of limitations for the debt. Dig in your files and see if you can cough up ANYTHING that will help establish that DOLA - past collection notices, old credit reports, statements, etc. If you find proof, send CAP 1 a cease and desist letter based on the SOL. Good luck to you. Poochie
Thank you so much for the info. An older report in the last year showed that Cap1 assigned my debt to NCO and on that CR it looked like I had 2 seperate accounts but they were one and the same. This recent report only shows it as a Cap1, no NCO. I guess I better start with getting a copy from each CRA to try to pinpoint who's handling this debt. Thanks again.
