Chargeoff

[FloridaGeorgiaGirl]

I had a Capital One credit card that was charged-off in 2019. The debt hasn't been sold. They haven't contacted me about it. I've called several times to see if i can pay it but they said i can't. It's stopping me from getting new credit and i'm not sure what to do about it. Has anyone here ever experienced something like? Advice needed.

Thanks

[MarvBear]

Welcome to CreditBoards. 

[hdporter]

2 hours ago, FloridaGeorgiaGirl said:

I had a Capital One credit card that was charged-off in 2019. The debt hasn't been sold. They haven't contacted me about it. I've called several times to see if i can pay it but they said i can't. It's stopping me from getting new credit and i'm not sure what to do about it. Has anyone here ever experienced something like? Advice needed.

Thanks

 

It's most likely the case that you're being denied an account because of the past charge off, not because there's an unpaid balance.

 

If you were to find a way to pay this debt, your credit report would reflect the payment, but would still maintain the account with an adverse status (paid charge off) and your credit score wouldn't improve significantly.

 

I've never heard a case where Capital One has refused payment against an old charge off when they still held the debt.  Did they offer a reason for this?

 

In the event that you remain convinced that repaying the debt will improve your application odds with creditors, contact information to escalate problems with Capital One have been posted.  I don't have that information at hand; perhaps someone will repost here.

[legaleagle2012]

It could be beyond the statute of limitations ... FLA is 4 years. What is the date of default? If it is before May 2019 it has expired. That just means they can't successfully sue, but it doesn't explain why they won't take payment. Must be some weird accounting rule they have.

[shifter]

No reason to pay. Save your money.