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would like some opinions about my capital one charge off


ggluvbug
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i am trying to decide what to do about capital one. it seems to be the consensus that they suck big time, and that they don't remove items from credit reports.

my account was charged off in 2000. it was $580. it is still being reported every month with interest. now the balance is $1080. i know that it is with the westmorland group, their collection group. the collection agency is not reporting, however. it is out of sol, so i know legally they can't do anything to me. but they keep reporting every month on my credit report with a new balance.

i am thinking about offering to settle with them to get them off my credit report (has anyone had luck with this?) or should i just wait it out the next 2 years and let it fall off? or will it fall off b/c new balances keep showing up?

i am just curious as to how others would handle this situation.

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i already did a dispute and they verified the account.

i really think this is one of the major things that is keeping my score down since it is showing as an open account...even though it is charged off.

should i initiate a settlement? what exactly is rehab anyway?

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