Mal Man Posted February 24, 2005 Report Share Posted February 24, 2005 I was unemployed for about a year in 2001. My 2 Capitol One cards went to CA. Before I found this board last week..I rolled 1 account into a 0 interest new Cap. One card. It has helped raise my score to 647 be/c I've paid it down in last 6 months. Other card I am paying a $100 automatic draft out of my checking once a month to Associated Recovery CA. it is down to about $1100. Both cards are reporting charge off's on credit report.. This was before I learned here about agreement to deleate when paid.The one I rolled over with Capitol One reads charge off and further in file it says paid..but reports as a neg. Associated Recovery is 21% interest. They told me when paid I should contact Cap. One to report it as paid...(again I made agreement before this board educated me)please help with any suggestions to get neg. removed or any other advice to improve score . this site is an answer to prayer. thanks for advice in advance. Link to comment Share on other sites More sharing options...
Mal Man Posted February 24, 2005 Author Report Share Posted February 24, 2005 bump..please help. thanks Link to comment Share on other sites More sharing options...
Methuss Posted February 24, 2005 Report Share Posted February 24, 2005 First you need to contact CapOne and make sure that they really assigned this account to Associated Recovery. CapOne does the vast majority of its own collections...it's unusual for them to farm it out.If it has been farmed out, then act CapOne what the balance is. CAs have a reputation for charging people more than is owed. You need to make sure you are not getting ripped off first.Once you have that, let us know the results and we can go over the next options based on those results. Link to comment Share on other sites More sharing options...
Mal Man Posted February 25, 2005 Author Report Share Posted February 25, 2005 Yes..they did confirm that it was given to Associated Recovery. balance is close to same(it includes late fees,etc,).. as I stated earlier I'm paying $100 a month bank draft with 21%.I have been paying for almost a year... Associated is not reporting to CRA..they told me when paid out I should contact Capitol One to report as paid. Of course, they will probably list as on other "paid charge off"any hope or advice? thanks. Link to comment Share on other sites More sharing options...
Methuss Posted February 25, 2005 Report Share Posted February 25, 2005 CapOne will not do a delete on payment. They are hard-a$$es about that. In all truth, the days of pay-for-delete are pretty much gone. The reason is that the FACT Act (which amends the FCRA) actually has a provision in section 623 that most companies are taking as a firm statement from the government that they must report delinquency information:(5) Duty to provide notice of delinquency of accountsAlthough this section is meant to require furnishers to provide a date of delinquency, they are taking it as much more than that. Link to comment Share on other sites More sharing options...
Mal Man Posted February 28, 2005 Author Report Share Posted February 28, 2005 if this is true..what would help my crdit score the most ?? Link to comment Share on other sites More sharing options...
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