Hi Everone, I'm trying to remove an old Cap1 account. Opened in 00 charged-off in 02. I disputed with CRAs, they verified. I contacted Cap 1 they referred me to CA. I Sent CA a request for VD. They sent me a letter stating they are requesting docs from Cap1 and they will no longer collect. Meanwhile Cap1 or CA are verifying with CRA. Its been 45+ days since 1st request and no response yet. I sent 2nd VD request, still no response. So I called Cap1 and I again was referred to the CA. CA told me today that in 30 days they will be returning this account to Cap1 as they will not be collecting on it. They also said they do not report to the CRAs. Maybe correct since they are not on my report. So, since Cap1 won't talk to me about this account and the CA is not talking to me about this account. CRAs verifying as correct via electronic paper, what should I do next? Confused as to next step.
Being that it is this old, I say you do nothing. Paying it could have a detrimental effect and it is too old to hurt your scores much, if at all.
I'm trying to up my score to refi my house. Have one of those adjustible that is going through the roof. Only thing holding be back from reffing is fico score need a 680. Have a EF FICO 605. TureCredit 626 TU. I have 3 old charge-offs that falls off next year and two collection accounts that are old too. Would like to get rid of these so I can refi this year because there is no telling where interest rates will be next year. Even if I was able to get these charge-offs' removed because they are old, would that raise my score any, what about opening up new credit to raise score.
I agree with letting them fall off. New credit may not have the effect desired as it will initially bring score down a bit. Perhaps a better gauge of where youre at is a FICO from myfico.com. True credit is way off at times. As far as interest rates are cocerned if you do alittle research you actually can have a reasonable assumption as to where interest rates will be. Perhaps a seasoned tradeline might give you the speed you desire. Just a thought there are alot of places that offer these, even some reputable members of this site do so. You may be able to have arelative or friend place you as an added user for free. Just a thought.
