kevmic Posted July 16, 2005 Report Share Posted July 16, 2005 This is on my DW's Ex report. I know there are violations. Just point me in the right direction. CAP ONE BK Address: PO BOX 85015 RICHMOND, VA 23285 8009033637 Account Number: xxxxxxxxxxx Status: Account charged off/Past due 180 days. $827 written off. $1,153 past due as of Jul 2005. Date Opened: 11/2001 Type: Revolving Credit Limit: NA Date of Status: 07/2003 Terms: NA High Balance: $1,153 Reported Since: 11/2001 Monthly Payment: $0 Recent Balance: $1,153 Last Reported Date: 07/2005 Responsibility: Individual Recent Payment: $0 Creditor's Statement: Account closed at credit grantor's request. Account History: Charge Off as of Jul 2005, Jun 2005, May 2005, Jan 2005, Oct 2003 to Dec 2004, Jun 2003 180 days as of Jan 2003 150 days as of Dec 2002 120 days as of Nov 2002 90 days as of Oct 2002 60 days as of Sep 2002, May 2002 30 days as of Aug 2002, Apr 2002 Balance History: 05/2005 $1,127 01/2005 $1,080 12/2004 $1,068 11/2004 $1,056 10/2004 $1,041 09/2004 $1,029 08/2004 $1,016 07/2004 $1,001 06/2004 $989 05/2004 $974 04/2004 $962 Limit High Balance History: Between May 2005 and May 2005, your credit limit/high balance was $1,127 Between Jan 2005 and Jan 2005, your credit limit/high balance was $1,080 Between Dec 2004 and Dec 2004, your credit limit/high balance was $1,068 Between Nov 2004 and Nov 2004, your credit limit/high balance was $1,056 Between Oct 2004 and Oct 2004, your credit limit/high balance was $1,041 Between Sep 2004 and Sep 2004, your credit limit/high balance was $1,029 Between Aug 2004 and Aug 2004, your credit limit/high balance was $1,016 Between Jul 2004 and Jul 2004, your credit limit/high balance was $1,001 Between Jun 2004 and Jun 2004, your credit limit/high balance was $989 Between May 2004 and May 2004, your credit limit/high balance was $974 Between Apr 2004 and Apr 2004, your credit limit/high balance was $962 I dont think they can keep charging fees and I guess interest after they have charged it off. As far as I can tell they charged off the account in june of 2003. But they keep adding to the balance. Help me out. This is one of the accounts keeping us from getting a home. Link to comment Share on other sites More sharing options...
Radio_Guy Posted July 16, 2005 Report Share Posted July 16, 2005 I'm no expert but... for starters, Status:Account charged off/Past due 180 days. $827 written off. $1,153 past due as of Jul 2005. This is just silly.... Obviously the past dues amount is wrong. Account History:Charge Off as of Jul 2005, Jun 2005, May 2005, Jan 2005, Oct 2003 to Dec 2004, Jun 2003180 days as of Jan 2003 More silliness.... It can only be charged off once...I dont think they can keep charging fees and I guess interest after they have charged it off. Actually they can, the question is this legal and can they collect it? -Probably not. You need to dispute this and start setting them for violation under FACTA- start with the 1-2 Punch method.CRAP-One is about the hardest to get rid of... Good luck... Link to comment Share on other sites More sharing options...
kevmic Posted July 18, 2005 Author Report Share Posted July 18, 2005 bump Link to comment Share on other sites More sharing options...
willingtocope Posted July 18, 2005 Report Share Posted July 18, 2005 Charge offs are not an easy question to answer. The short version is that IF the OC still owns the account (i.e., NOT sold to another lender) then by IRS rules they can keep it on their books for 2, 3 or 7 years depending on their accounting practices AND continue to charge interest and penalties.Charge off is just an accounting term that means "charge taken against accrued income". Just to confuse things a little further, if the OC happens to be a bank governed by the FDIC, then they are required to CO the account within 180 days and set the balance to $0 then issue you a 1099c for the "forgiven" amount". Most CC companies, although they might be associated with a bank, have managed to get themselves out from under FDIC control. Link to comment Share on other sites More sharing options...
c m chase Posted July 18, 2005 Report Share Posted July 18, 2005 Crap1 must have the 7-year rule. I have a CO from them from 2001. Every month, they still add interest. From a $900 credit line, I now have a $2500 balance. Woohoo. Link to comment Share on other sites More sharing options...
kevmic Posted July 18, 2005 Author Report Share Posted July 18, 2005 Well it looks like I might have to settle this one then. We are trying to buy a house in the next 4 to 6 months. Link to comment Share on other sites More sharing options...
willingtocope Posted July 18, 2005 Report Share Posted July 18, 2005 If you've got the money, you can try. You might get them to accept the original balance. Make sure to get everything in writing BEFORE you send money and shoot for "Paid", or "Paid as agreed" with all the lates deleted. A "Paid for less the full amount" or similiar will hurt your interest rate... Link to comment Share on other sites More sharing options...
kevmic Posted July 18, 2005 Author Report Share Posted July 18, 2005 yeah I will.. I dont have the money right now so I am just waiting to see what happens with my dispute. Link to comment Share on other sites More sharing options...
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