Does this mean that C1 can't keep reporting??? California has a 4 y sol. They listed this account in collection on my credit report.
The SOL has nothing to do with reporting the debt to CRA. These are two different things. Have you read the newbie posts? I'm sure this is explained clearly. 7-years reporting for negative Tradelines(TL) and as long as 10-years reporting for Bankruptcy (BK).
yes, I've read. let's try this again. 1. Capital one is reporting to CRA's that an account is in collection for a really long time. No letters, no calls, NADA. 2. The info on the CRA is incomplete. No DOLA, no credit limit. FTC states it has to be ACCURATE, 100%. 3. I am not certain that the accounts are even mine. I want proof of the accounts. 4. Since they haven't contacted me and the fact that I don't want them on my report anymore, I want to get a house soon, I contemplated on contacting them to have them verify the accounts, and all accounting etc. 5. Someone suggested being careful because that may trigger them to sue me. If the CA SOL is over, then that bars them from suing me, CORRECT? 6. Okay, then I still have about 3 more years on the CRA reporting on my CR. I don't want it on there, and C1 can't sue if the SOL in CALIFORNIA is over. 7. Still with me here??? Am I correct in this??? How do I get the DOLA from C1, so that I can confirm the SOL for California filing suit purposes, not Credit Reporting purposes.....
Okay....I read below...and particularly about getting a mortgage. You WILL need to resolve this in some way before thathappens.... Now...as you seem to understand, you are past SOL for them to sue you and WIN. In other words, they CAN sue you, but the SOL is an affirmative defense against it. So if they DO sue you, do NOT ignore it. You must fight it. You don't mention how much the debt is for....if you list it, it might give some sense as to whether they will bother to sue. Now, to get it off the CRA you have two choices. You can do the validation route...see other parts of the site for example letters. This is a precise process where you try to compel them to PROVE that it is your debt via showing a signed contract, etc. It is NOT verification...which merely matches your name and maybe mailing address to their records. If they fail in this process, you can compel the CRA to remove the entry completely. Second way, is that you can contact the creditor directly and negotiate a settlement in exchange (in writing) that the debt was paid in full AND all negatives will be removed. Many creditors will try to tell you they cannot do this by law.... However, they CAN legally and ethically remove your trade line altogether, since reporting at all is a voluntary thing. So they can't go (ethically) in and change all your lates and collections to say you paid on time. But they can yank the whole trade line and say "We never meant to report it...it was an error to even list it at all." This is what you want. Bear in mind that option 2 usually requires lump sums of cash to work with. Our tactic was tocontact and negotiate a settlement offer...really hammer on them to get it a low percentage. We used the "it's almost due to fall off my credit...I've made it this long, etc etc." We then asked to speak to a supervisor...and told them off the settlement offer. We said "Well..if we could borrow it...how much would it take for you to remove the tradeline?" Almost all of ours went for this (8+ creditors). In fact, the only person that was difficult to deal with for us was American Express. So those are your two options... aiki
I've been told time an time again that Cap 1 is the creditor, not third party collection agency, so they don't have to validate. I believe that there is a process they have to follow. They can't just "create" accounts and report them to SSN's arbitrarily. Each card had a limit of 200 or 300. They report to the bureau that each account balance is 900+ each. I don't have the DOLA, but I know the 4 year suing statute is near. Yes, I know if they sue, I'll respond with my affirmative defense of SOL expired..... They are reporting inaccurately to the BUREAUS period. I want to know what can be done about the Creditor being inaccurate...
****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************************* >NO SOL & reporting to the CRAs are two entirely different issues.
1*I believe that there is a process they have to follow. They can't just "create" accounts and report them to SSN's arbitrarily. 2*They report to the bureau that each account balance is 900+ each. 3* I want to know what can be done about the Creditor being inaccurate... CRDTNogood ****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************************* >1* This is covered under the Fair credit reporting act and the fair billing act. 2* Just exactly how is this listed. Please post it word for word here so as we can try to ascertain what's involved. 3*SEE # 1
Re: Re: SOL in California for C1 cc in COL ***************************************** welcome to my world :0 ok first dispute the entire acct with the CRA at the same time send a letter by CMRRR to Cap 1 regulatory response at 15000 capital One drive Richmond, VA if you are in Calif there are additional protection laws that apply to creditors such as cap 1 they are required under calif law to validate the acct.it's like having FDCPA apply to creditors in this case when this method usually only applies to debt collectors. yeah for calif request proof of your signature and written documentation that would support the balance and any charges that is being reported, if you are not satisfied file complaints with the BBB in richmond, Va and the Federal reserve that may start the process but you may be in for the long haul which would include FTC and attorney General and even a lawyer need free legal advise ck out lawguru.com hope this helps
