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The original amount when it went into default was around $2000.00. The debt is valid. I just didn't understand credit so well in my youth. It says on the credit report that it will delete in november 2011. I have had no correspondence with the original creditor or any of the CA's that have tried to contact me. Even thought the debt is valid I was hoping to pound either the OC or the CB with letters pertaining to accuracy and validations. Would it be better to start with the OC (623 investigation letters) or the CB (disputer letters)?
charge off with capital one
Hi Diem,
If your debt is valid, why would you try to dispute it? Do you know that you can be sued for this, if the SOL has not expired? Even if the SOL has expired, the collection agency may still try to continue with the collection process, and harass you. If you really owe the debt, then you should try to pay it off. The charge-off is already damaging your credit history. If you can settle the amount to be paid, with the collection agency, the amount to be paid will lessen by 40-60%.
However, as said before, if the original creditor or the collection agency fails to provide you with the details of investigation, you can send the 623 dispute letter.
charge off capital one
I looked at it closer, it deletes in June 2011. I don't believe there is a CA assigned to this account. If there is they don't correspond. It's just been sitting there snowballing on my credit report and I've been waiting for it to go away. I just figured if it is so old.. why not take a shot and see if Cap One has the records to validate? If they don't.. I get lucky and it goes away a year early. I have sent the 623 letter, we will see.. Thanks.
I suppose it seems like some kind of moral issue to dispute this but CRAP 1 showed no morals when they gave a teenager this credit card.
Also, If the account is about to delete in NOV 11 then more than 3 years has past and so CRap1 has claimed that they use VA SOL of 3 years. But check your own states SOL, just in case. I think IL or OH have pretty long statute of limitations
what is listed on your credit report?
Are you asking me what is on my report cinnamngrl? Can you be more specific?
what is the DOFD = 180 days after the last payment
I'm not sure exactly. Somewhere around Sept. 2004. Way past the SOL in Florida. Why?
capital one charge off update
In preparation of sending my investigation (623) letter to CAP 1, I disputed with the 3 bureaus. Equifax and Experian "verified". Transunion deleted!! WHAT DOES THIS MEAN!! I will take this as good news because how can 2 verify and 1 delete? The 623 letter is off to CAP 1, so we shall see what "records" they come up with. Oh.. 1 more thing, can Cap 1 report back to transunion and have them put it back on report?
This is very normal. You are actually doing well! high five.
Now, send a dispute letter to the tradeline. (does it say Crap1?) sometimes even the collection agency will list at as the OC.
this is a 623 investigation request
623 investigation response from Capital One
Cap 1 responded as follows:
"Dear diem613,
Because you applied for your account by phone or on the internet, we do not have a paper copy of your app on file to send you. We've enclosed a copy of you customer agreement, as well as your last three monthly statements.
Capital one has a valid contract for the amount you owe.
Please call 1800xxxxxxx for the current pay-off amount."
Ok, 2 CB verified, 1 deleted. What is the next step for the 2 still reporting the charge off. Method of Verification letter to the CB? Do I include the letter from Cap 1? FYI this account deletes in 06/11. The balance on the last statement was $3500.00. I'm looking for some good advice.
It seems like Crap1 is able to show how the information on your credit report was verified. To write an MOV letter you need to dispute that those records exist.
you see, the CRAs feel that they have already provided MOV when they sent your credit report. Each Tradeline has a name and address.and sometimes a phone number. For a MOV to be effective you need to say, I used the info provided and got different information or no reply. otherwise, I promise you they will send you a copy of the tradeline and a form letter.
It seems that this debt is beyond SOL for a civil judgment. Have you considered offering a settlement for PFD? unless they delete I would n't bother you can always wait them out. Actually, I would call that 800 number and see if it is a person. If it is person I would ask if they would consider a settlement. If the number is too high just say I can't pay that and I might as well wait. I'll bet they could come down as low as 25%
Cinn, then with the info that you can see from the letter, do you think I should send the MOV template you have posted on your page? Cap 1 really gave no evidence in the letter, no signatures, no signed agreements.. just some statements from years ago.
was there ever a signed agreement?
If you made purchases and payments to this account, then Crap 1 doesn't need a signed agreement to prove that this was your account.
If there were a bunch of charges in a short period of time and never a payment, then it would fit a pattern of fraud. If this isn't your account then why would you give us money?
what would you say in the MOV? You can try just making a simple MOV without raising any doubt about the info provided by the CRA, but I am afraid that they will just send a copy of the tradeline and tell you to contact them with the address provided. You send the letter to the two remaining CRAs
it wouldn't hurt, really but I can't promise success.
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ccAxKC Looking forward to reading more. Great article post. Awesome.