capital one says charge off but each month says KD in the box on my credit report?

Question

what does this mean has it been sold to a collection agency. will them continuing to report it KD keep it on my report forever

Answer 1

Key Derogatory...Capital One apparently settled the account by writing off the debt to a collection agency paying pennies on the dollar for it . That closed out the debt, but left a negative entry on your credit report. It will be there for 7 years unless it falls off a little earlier. If you are not going to pay this ..Have no more contact at all ever with Collection Agency or Capital One and check your states statute of limitations on serving you with a judgement. A lot of states are just 3-5 years..so hide and change your number to unlisted. They will harass you if they know they can reach you. After the statute of limitations is up your good to go but they will still call once in awhile ...once again say nothing but statute of limitations is up and goodbye! It will remain on credit for 6-7 years. But they cannot sue after statute is up. If they try to serve you then go to court ...no lawyer needed and simply tell the judge that the statute of limitations is up on this debt.

Answer 2

I'm not sure what KD means (I hate abbreviations). But I think Capital One has their own collection department. That seems to be the trend for these mega credit card companies.

If you own the money, why don't you try to settle the account. It won't go away and it's very likely they will sue you, get a judgment, garnish your wages, attach your bank accounts and property.

Answer 3

It will stay on there for a good long while. You need to consider debt settlement as the answer. Scrape some funds together and have a professional company get you a rock bottom payoff.