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Cap1 charging off every month

The last post in this topic was posted 1483 days ago. 

 

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Cap1 is reporting two different accounts as charge-offs each month since the official CO date of 09/2015...it shows as follows (just one of the accounts):

 

Type: Credit card

Recent balance: $700 as of 09/2016

Credit limit: $500

High balance: $700

Date of status: 09/2015

Status: Account charged off. $700 written off. $700 past due as of 09/2016

Monthly payment: $0

Comment: Account closed at credit grantors request

 

this is well within SOL(GA). i have had a few CA send letters, but i have sent a dispute everytime and they do not respond or it goes to another CA (not on my CR from any CA). I would like to go directly to Cap1 and get things taken care of, but i wanted to know if anyone has had success with Cap1 with making a payment or it's pretty much waiting out my time for the seven years?

 

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What are you hoping, that they'll delete it? No chance.

 

You can pay it, and you can stop worrying about getting sued or getting annoying phone calls and letters. And once you pay it they'll stop updating so it will have a chance to age and stop affecting you so much down the road.

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Thanks for the reply. I pretty much know cap1 is not the deletion type of company, so I never even put any hope in that, but my question was has anyone had any luck/favor with going back to cap1 and making the payment? Since they still have the account and the CA that have dunned are not reporting on my CR, I was interested in if someone had spoken or written a letter to a specific person at Cap1.

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As the OC, Cap1 can continue to add monthly interest, and update your CR with a new balance every month, as long as they continue to send periodic statements. In my case, they continued with the monthly statements for about 6 months afer CO, and then went to quarterly statements for another year and a half, IIRC.

 

Cap1 wants their money. So if your intent is simply to pay and be done with it, you don't need a special phone number or letter. If you were hoping to get this removed, I'm afraid you won't find a magic letter; Cap1 does not negotiate deletions.

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Thanks for your reply. I'm not expecting a deletion, because of who cap1 is, nor do they have to. Cap1 stop sending statements to me period after it charged off, I haven't received statements since the CO date. Also, the amount doesn't change every month, it stays the same but it charges off every month. The reason behind asking do I speak or write to a certain person is because I'm sure the regular csr phone line is not going to produce any results as far as it getting paid, I'm thinking they will not be able to help. I read on another credit board that cap1 referred a CO person to the CA, but the CA told them that the account was sent back to cap1, so they paid cap1, but they didn't say if they went through the exec office or what. So here are the bullet points:

1. I'm not expecting a deletion, I understand that.

2. I'm looking to pay without going through a CA and I would rather go to cap1, but I'm thinking the regular csr phone line will not help.

3. I'm wanting to know if anyone has dealt with cap1 after a co by phone or mail with no CA reporting?

 

4. I would rather deal with them by mail and would like to know how to word a letter.

5. Can cap1 continue to CO every month with everything remaining the same in my cr (no amount change, no date change except the report date not the dofd) if I haven't received a statement in a year?

 

I'm at a place now where I can pay it, but just need a little direction. I understand they will not delete for payment and that is not a concern of mine at this moment. Thank you guys for any help.

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Yes, until they sell the debt to a JDB they can, and usually will, report it monthly as CO status. They want their money and that's the easiest way to punish you. The JDBs almost always do the same thing, and pay sharks to try sewer service on in-statute debt.

 

You're still likely in statute so you can either wait to be possibly sued, pay in full, or see if they'll let you make a settlement payment. It's better to get a PIF instead of "settled", but sometimes they will just want the original amount of the chargeoff back and if you can't save $100 a month to pay them in full, settled is better than continued COs each month on your score.

 

My rule of thumb is to try my best to pay debts the OC hasn't sold yet, but screw the JDBs -- they won't get a penny from me. They also are easier to fight in court than the OC, because there's a longer chain of proof needed and they are usually sloppy.

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Stop dealing with Cap One. Keep responding to any CAs that send you letters and dispute ASAP, you might keep the CA tradeline off of your files.

Dispute, Dispute, Dispute. Don't admit to anything.

 

Just send disputes to the credit bureaus with the 'Jack Attack' strategy.

You can get it off of the credit bureau files without ever dealing with Cap One or the CAs.

 

They will probably eventually sell the account to Midland (JDB).

Then you will have to deal with that tradeline also on your credit files, but they are also manageable with a solid dispute letter writing strategy.

Edited by RocketGoBoom

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What are you hoping, that they'll delete it? No chance.

 

You can pay it, and you can stop worrying about getting sued or getting annoying phone calls and letters. And once you pay it they'll stop updating so it will have a chance to age and stop affecting you so much down the road.

They MAY stop updating if paid. Crap1 is known to crap on your reports until it drops off.

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I've had success with Cap1. Disputed online to the CRA's and had it removed first time on all three. Was going to be removed in a year and a half. So maybe it's only because it was so old.

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Thanks for your reply. I'm not expecting a deletion, because of who cap1 is, nor do they have to. Cap1 stop sending statements to me period after it charged off, I haven't received statements since the CO date. Also, the amount doesn't change every month, it stays the same but it charges off every month. The reason behind asking do I speak or write to a certain person is because I'm sure the regular csr phone line is not going to produce any results as far as it getting paid, I'm thinking they will not be able to help. I read on another credit board that cap1 referred a CO person to the CA, but the CA told them that the account was sent back to cap1, so they paid cap1, but they didn't say if they went through the exec office or what. So here are the bullet points:

1. I'm not expecting a deletion, I understand that.

2. I'm looking to pay without going through a CA and I would rather go to cap1, but I'm thinking the regular csr phone line will not help.

3. I'm wanting to know if anyone has dealt with cap1 after a co by phone or mail with no CA reporting?

 

4. I would rather deal with them by mail and would like to know how to word a letter.

5. Can cap1 continue to CO every month with everything remaining the same in my cr (no amount change, no date change except the report date not the dofd) if I haven't received a statement in a year?

 

I'm at a place now where I can pay it, but just need a little direction. I understand they will not delete for payment and that is not a concern of mine at this moment. Thank you guys for any help.

 

The answer to #5 is Yes. As long as they own the debt they still can report monthly and that suppresses your score. Once its paid, they stop the monthly updating.

 

Look up the backdoor numbers for CapOne's collection department.

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Thanks for your reply. I'm not expecting a deletion, because of who cap1 is, nor do they have to. Cap1 stop sending statements to me period after it charged off, I haven't received statements since the CO date. Also, the amount doesn't change every month, it stays the same but it charges off every month. The reason behind asking do I speak or write to a certain person is because I'm sure the regular csr phone line is not going to produce any results as far as it getting paid, I'm thinking they will not be able to help. I read on another credit board that cap1 referred a CO person to the CA, but the CA told them that the account was sent back to cap1, so they paid cap1, but they didn't say if they went through the exec office or what. So here are the bullet points:

1. I'm not expecting a deletion, I understand that.

2. I'm looking to pay without going through a CA and I would rather go to cap1, but I'm thinking the regular csr phone line will not help.

3. I'm wanting to know if anyone has dealt with cap1 after a co by phone or mail with no CA reporting?

 

4. I would rather deal with them by mail and would like to know how to word a letter.

5. Can cap1 continue to CO every month with everything remaining the same in my cr (no amount change, no date change except the report date not the dofd) if I haven't received a statement in a year?

 

I'm at a place now where I can pay it, but just need a little direction. I understand they will not delete for payment and that is not a concern of mine at this moment. Thank you guys for any help.

The answer to #5 is Yes. As long as they own the debt they still can report monthly and that suppresses your score. Once its paid, they stop the monthly updating.

 

Look up the backdoor numbers for CapOne's collection department.

Crap1 is known to update even paid chargeoffs monthly.

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Thanks for your reply. I'm not expecting a deletion, because of who cap1 is, nor do they have to. Cap1 stop sending statements to me period after it charged off, I haven't received statements since the CO date. Also, the amount doesn't change every month, it stays the same but it charges off every month. The reason behind asking do I speak or write to a certain person is because I'm sure the regular csr phone line is not going to produce any results as far as it getting paid, I'm thinking they will not be able to help. I read on another credit board that cap1 referred a CO person to the CA, but the CA told them that the account was sent back to cap1, so they paid cap1, but they didn't say if they went through the exec office or what. So here are the bullet points:

1. I'm not expecting a deletion, I understand that.

2. I'm looking to pay without going through a CA and I would rather go to cap1, but I'm thinking the regular csr phone line will not help.

3. I'm wanting to know if anyone has dealt with cap1 after a co by phone or mail with no CA reporting?

 

4. I would rather deal with them by mail and would like to know how to word a letter.

5. Can cap1 continue to CO every month with everything remaining the same in my cr (no amount change, no date change except the report date not the dofd) if I haven't received a statement in a year?

 

I'm at a place now where I can pay it, but just need a little direction. I understand they will not delete for payment and that is not a concern of mine at this moment. Thank you guys for any help.

The answer to #5 is Yes. As long as they own the debt they still can report monthly and that suppresses your score. Once its paid, they stop the monthly updating.

 

Look up the backdoor numbers for CapOne's collection department.

Crap1 is known to update even paid chargeoffs monthly.

 

 

I heard they recently stopped that practice.

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