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Capital One

Jaboon

By Jaboon
in Credit Forum

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The last post in this topic was posted 4477 days ago. 

 

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Jaboon

Jaboon

Posted
Posted

Good Morning Fellow CBers!

 

I am down to my final and last baddie.

 

Here is a little background and i would love to have ANY and ALL input on what direction i should go...

(BTW with the help of YOU folks i have had success in moving my FAKOs from the mid 500's to 695...I know it isnt true FICO but it is an improvement so i really appreciate the helps from ALL!!!!)

 

Okay:

Capital One

original Bal 500

charged off to a little over 1750

out of SOL (in texas)

 

I have contacted their "help" line and was willing to pay the total amount charged off for a deletion but lady told me they "cannot" delete information.(which i know is inaccurate..probably what she is scripted to read) even if i paid the full amount.

 

I am really stuck at this point on what to do...PLEASE HELP....

 

 

 

 

 


mendelssohn

mendelssohn

Posted
Posted

Someone was just asking about this in another thread. Cap1 does not PFD, and they are known to update the status of a CO even if it is paid up until the moment it drops off your reports. If you are out of SOL for collections, I would not pay it. Try and find some error in reporting and dispute it or wait it out.

Jaboon

Jaboon

Posted
  • Author
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The reason im trying to get this removed is for home loan purposes..i am paying down/off all of my open accounts..this should bump my score slightly..but i am concerned that i will not get a loan with this charge off.

shifter

shifter

Posted
Posted

moving my FAKOs from the mid 500's to 695

good job in your repair process, but I just have to point out that considering FAKOs are +/- 111 points, that could mean your FICO actually dropped from 611 to 584. putting stock in those FAKOs is no better than putting stock in my super-duper secret shifter scoring model where your score went from 3 to 1,000,000! they really are no more "real" than my system.

 

if you want to know how your progress is really going, you need to get some FICO scores.

Jaboon

Jaboon

Posted
  • Author
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Yeah i get the fact that they are no way near true ficos...however i did a mortgage app and pulled true scores and my lowest score is 635...so i an getting close to where i need. Was approved for barclays in nov 2013 and have been using it daily and paying off..going to call for cli next month to try ad go from 2k to 5k+.

Jaboon

Jaboon

Posted
  • Author
Posted

My uti is high (about 80 pct) on a creditone card..that will be fixed shortly..when my mortgage app was pulled i still had a midland that has since been deleted.my goal this month is to pay all of my cc to 1-10 pct on one and pif all others..plan on using the barclays for everyday use and pif as used.. Thoughts???

cv91915

cv91915

Posted
Posted

My uti is high (about 80 pct) on a creditone card..that will be fixed shortly..when my mortgage app was pulled i still had a midland that has since been deleted.my goal this month is to pay all of my cc to 1-10 pct on one and pif all others..plan on using the barclays for everyday use and pif as used.. Thoughts???

 

Ding, ding, ding!! :D

 

I'm betting your utilization efforts will take care of your score deficit. Have 1% reporting on one card.

 

For a conventional mortgage that CO will probably have to show as paid as well. I know zero about FHA, VA, NBA or Triple A, though, so find out if your loan program has a requirement on this, and get advice on how to handle it based on that.

cv91915

cv91915

Posted
Posted

Yeah i was afraid to pay off the chargeoff until the LO tells me too..i think my score will drop again if that happens???

 

I don't know, that's why I would suggest getting advice on how to handle this. :)

 

I'm outside my comfort zone in giving you advice on exactly what to do.

 

Once upon a time they may have wanted to pay the OC from the proceeds of your new mortgage, but that might be an antiquated concept, post-credit crunch. Please find out exactly how the originator's underwriter wants you to handle it. My example was just that, and it might have been a bad one.

Jaboon

Jaboon

Posted
  • Author
Posted

Anyone out there in CB land have any comments on me throwing myself at the mercy of the EO for a shot at PFD? Heck if they just put the account as closed amd current and let me pay it off i would be happy happy happy..

shifter

shifter

Posted
Posted

Anyone out there in CB land have any comments on me throwing myself at the mercy of the EO for a shot at PFD? Heck if they just put the account as closed amd current and let me pay it off i would be happy happy happy..

C1 has no GW. none, nada, zilch. they don't care. but maybe you can be the first. best of luck ...

Jaboon

Jaboon

Posted
  • Author
Posted

Yeah..we really need to move DW and I have been in the same starter home for 12 yrs!!! 3kids...2 dogs.. Bustin at the seams...we make almost 160k combined..no bankruptcy ever...no foreclosures ever..and NEVER been late on our mortgage..but capital one is sucking the life out of me!!!

mariuszh

mariuszh

Posted
Posted

Anyone out there in CB land have any comments on me throwing myself at the mercy of the EO for a shot at PFD? Heck if they just put the account as closed amd current and let me pay it off i would be happy happy happy..

 

In writing the email to Mr. Fairbank, give them a good reason to be sympathetic as to why you charged off the account.

 

Give them a compelling reason as to why to grant you good will.

robert217

robert217

Posted
Posted

Yeah i get the fact that they are no way near true ficos...however i did a mortgage app and pulled true scores and my lowest score is 635...so i an getting close to where i need. Was approved for barclays in nov 2013 and have been using it daily and paying off..going to call for cli next month to try ad go from 2k to 5k+.

 

How long ago did you apply for a mortgage? Did you ask them what to do about cap one?

 

My uti is high (about 80 pct) on a creditone card..that will be fixed shortly..when my mortgage app was pulled i still had a midland that has since been deleted.my goal this month is to pay all of my cc to 1-10 pct on one and pif all others..plan on using the barclays for everyday use and pif as used.. Thoughts???

 

I'm sure this would put you way over the min. for FHA. Are you planning on selling your current house?

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