Dealing with an OC

[efish]

I have a question with regards to an OC. I have an old Crapital One account, that is scheduled to stay on record til early'06. They never transferred it to a CA to the best of my knowledge, although, I have called on it before and they say hold on, this account is being handled by another department. Anyway, I have disputed and disputed many times over, it only remains on Experian. I just dipsuted again with hope that CHOD will be the answer. So my question is, if CHOD doesn't work. What is the best course of action to deal with an OC. Can you do SOL letters or C&D with an OC? We don't talk much about OC's. Thanks in advance for the help!

[willingtocope]

Since the FDCPA does not apply to the OC, C&D and DV letters do not USUALLY work. Some OCs will however abide by them...particularly if you are only asking that they contact you by letter.

As for SOL, yes that does apply...once past the SOL in your state, the debt becomes uncollectable, although it will stay on your credit report for 7+ years.

If you have the money, the best way to deal with an OC is to send them a CMRRR stating something like "gee, just found you on my credit report, forgot all about this, will you take a check for the full amount in return for removing all entries from my CR". If you don't have enough money, send the same letter saying "can we negotiate a settlement". If you have no money at all, ignore it. It won't go away, but once past the SOL there's nothing they can do. Well, actually they can still take you to court, but the SOL "should" be an absolute defense.