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Here I go.....motivated newbie with a question or two


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It's after midnight, I've been reading this forum for hours and plotting out my credit recovery. I wish I'd found this site a year ago. Although a year ago I wouldn't have dared look at my CR ':?' - I cleared up a terrible student loan since then, and that gave me the guts to actually look.

After reading all night, I still have a couple of questions:

First, the biggest negative on my report is a Cap 1 card that has a status of BD/COL/SKP - whatever that means. I know I settled it awhile ago. It's on both Equifax and Experion (haven't pulled the other report yet, but I'm sure it's there)

My original plan was to call them and offer to pay the rest of the account in exchange for removing the negative credit info - I can afford it and it would be worth the few hundred bucks to get it off my account.

But after reading here, it doesn't sound like Cap 1 is any fun to deal with. I'm wondering if I should just dispute with "not mine" with the CRAs? If I do this, should I do it before, after, or along with the other five (minor) negative marks?

Second, disputing - is there any advantage to disputing online vs. snailmail? I liked the idea of sending it snailmail return receipt. Should I dispute all six negatives in a single letter, or space out my requests?

Thanks so much!

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Your right , Capitol 1 is notorious for being difficult . Since you settled with them for less than what was owed , chances are they sold the rest of the remaining debt to a junk buyer who may come after you anyway at some point. So offering to pay off the rest for a deletion probably won't happen .

You just need to dispute things in the TL. Dispute everything , pick it apart ....but only dispute one or mabey two things about the TL at a time , so you have others left for future disputes . The best you can hope for with Cap 1 is to catch them committing violations and use that against them in the end to have the TL removed , or that they eventually drop the ball and the TL gets deleted because of their error.

I am also dealing with Cap 1 , So I know how diificult they can be.

AS for online or CMRRR . I usually do my first round online , and print out a copy for my receipt . Then if I have to start sending other letters or creating a paper trail of violations , I then start CMRRR.

I usually do about 3 TL at a time when I dispute . I don't like to do to many at once . Its harder to keep track , even with great records. Then after my first 3 come back I wait about a month then send out my next 3 so im never disputing the same things right after each other. I only had 6 ( four left ) negs. on my reports so splitting them up worked out well for me .

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Hiya and welcome to the forum.

Please take my advice with a grain of salt as I am a newbie myself.

I have Cap 1 on my reports as well so I have just been reading

about 2 hours worth of posts on different forums about them in effort

to come up with a stategy.

From what I have read Cap 1 will fold easy... but it takes a lot of time.

You need to DV them 2 or 3 times and then send the ITS letter.

After receiving the ITS letter they should fold, but that too has some conditions. How old is the account? Is Cap 1 the OC or was it a debt

purchase? Paying this debt may hurt more than it will help.

I work midnights and this is my night off... so I am awake and drinking beer... getting ready to go to the store for more.

Not much happining here in the middle of the night.

I will PM you some info after I get back from the store.



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Thanks for the replies! It was a regular old Cap One credit card that got me a good deal on a plane ticket. (beats head against desk)

I don't think they can sell the rest of it - the note on the tl reads "Election of remedy - reported by subscriber. Legally paid in full for less than the full balance"

I don't know what to dispute in the tl - especially in the Equifax report (which I got thru Citibank) there isn't that much information. "Not mine" is about all I can think of. Does that ever work with Cap1?

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The "Not mine" dispute has worked with me on one of my TL . But it is a dispute that can be the easiest for them to reply to.... You say its not mine , their computer sees your name and says yes it is ...dispute over :) But I usually try that one to start anyway , just in hopes of getting lucky.

As for what else to dispute , Just pick one ..wrong date opened / closed / settled...High bal. wrong ...balance wrong ( if not listed as 0 ) anything and everything.

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