Sorry, kinda long... As some people on this board know, I have an ongoing problem with a Capital One charge-off from 1999. Originally charged-off for $550, balance now at $2400 with interest and fees, and I've never received a statement since the charge-off (some on here have told me that a creditor is required to send a monthly statement when they assess fees). All 3 reports report it as a charge-off from 1999, though they all also say I am currently past due $2400, which makes it look like this is a current charge-off instead of over 5 years old. Anyway... About 6 weeks ago, I wrote to Capital One and asked for full validation of this charge-off; all they could send me were the first two months statements on the account, the account terms and conditions, and a letter stating that I owed $xxxx.xx, but nothing as to how that figure had been reached, no proof that the account had even been charged-off. (I mean, I had the first two months statements from them that showed my account was in perfect status). I sent this information out to the bureaus and stated that because Capital One couldn't provide me with any sort of proof or validation of this debt, that their grounds to place a negative mark on my report are baseless and that the information shoudl be erased immediately. All 3 bureaus wrote back the same thing...account has been investigated and verified. Fine. They want to play hardball. Two weeks, I sent out a "prove it or remove it" letter, stating that all 3 bureaus should provide me with proof of their verification, adding that it seems rather odd that Capital One can't even provide me with validation, but that the agencies can verify this same information as correct in the blink of an eye. I've yet to hear from Equifax or Experian, but I got a reply from TU today. According to them, these 'verification' documents are not available and that I should contact my original creditor to receive any documentation or verification. But my original creditor, Capital One, can't provide me with this, and I've told all three bureaus this and given them proof. What should I do now? Please someone help me!
A charge off in 1999? It's mid 2004 you have another 2 years left till it falls off anyway. Get on with your life.
TradeWiz50 I have to disagree with you. Chargeoffs are devastating for employment, credit, quality of life. It is worth fighting. I fought Capitalone and eventually won. It was hard, but it can be done, The fight is thing that makes us stronger. Waiting two years is not an option.
