i had a charge off with a capital one, it was going to be 7 years this dec.?

Question

i think they have sold the debt to another credit agency. Do I have to wait another 7 years from the date this new agency reported it. I dont think so but Im curious as when is this going to be out of my credit. (more details) on my credit report capital one is reporting as ok, now OSI is reporting the same ammount since february this year.

i never made any payments, )sadly i didnt incurred the debt, it was unauthorized. its only 400 but i wont pay it, it wasnt me.

i have no proof, it was 7 years ago. they had no cameras at the gas station where they used the card. i already gave up on that. I have waited long enough.

Answer 1

Ignore that letter that was suggested. It is too long, may start your SOL for COLLECTIONS all over and is way to adversarial. If you are looking for someone to help you, starting out quoting them the entire Federal Acts is not a very good beginning.

As another poster suggested, dancer, at this point it might not be worth any effort since it will drop off soon.

Answer 2

If this is unauthorized charges, did you dispute this with Capitol One when they first appeared? Most important, do you have proof these were unauthorized charges? If so, you could send the credit bureau a dispute with your proof and maybe get the whole thing removed. Of course, it's almost ready to fall off and might not be worth the effort now.

Negatives stay on your credit report 7 years and 180 days from the date of delinquency. No, collection agencies cannot re-age the debt. It will still come off after the 7-1/2 year reporting period. If it doesn't, send a dispute to the credit bureau indicating the debt is beyond the 7 year reporting period.

NOTE: People get the reporting period and the statute of limitations (SOL) confused. Payment or promise of payment will restart the SOL but NOT the reporting period.

Answer 3

Ok, there are some good and some horrible answers above. The debt is to be deleted 7 years from the charge off date. This isn't state to state, this is federal. I think the person above had the statute of limitations by state confused with how long a company has to pursue the debt. I live in Ohio, lenders/agencies are allowed to pursue a debt up to 15 years later, but it still must be removed from your credit report after 7. Capital One will respond to your disputes until the full 7 years is up. I have helped some friends clear their credit reports up, and Cap One will respond to every dispute. If an agency is reporting it, dispute theirs, they are not permitted to report the same obligation twice. After December, if the trade is still on your credit report, dispute it, and it will be deleted if it has been 7 years.

Answer 4

Since the debt is not a valid debt I would suggest you send them a validation of debt letter, this is sent directly to the company that is reporting it which is OSI. Unfortunatley this website wont let me send it to you via email,Here is a copy of the letter you should send, I know they havent contacted you but they are reporting it so you can still send this:


Date

Your Name & Address

Collection Agency Name & Address

Re: Account Number

Please be advised that I have received your correspondence. This is not a refusal to pay or a cease notice, but a notice that your claim of monies owed is disputed. According to the FDCPA you must validate a debt to a debtor if the debtor responds to your primary notice within a matter of days. I have done that, my certified mailing number is :_______________________________

Under the FDCPA and according to recent findings with the Federal Trade Commission, you must send valid proof of this debt and a printout of records is not valid. See FTC.gov "staff attorney opinion" findings for details. Please do not waste my time or yours by sending back a print out. The proof requested is as follows:

 Date you purchased debt
 Amount you paid for said debt
 Date of last payment/activity if any
 Creditors full name and address
 All records pertaining to actual debt to prove validity.

If you cannot produce such proof after I have put you on notice then I reserve the right to file a suit against you for FDCPA violations in my court's venue. You will have to travel to defend yourself in that scenario.

Please also be advised that this request is an official validation of debt request and not a 'verification of address" request. Proper proof of said debt is required. Please understand as well that under the FCRA any "furnisher of information" must put the account rating on hold while the debt is being investigated. Continuing to report this disputed debt to my credit reports is a FCRA violation also open to damages collected from you.

Awaiting your reply in a timely manner.

Sincerely,

[Signature Required]

Your Name

Answer 5

A deragatory account can only be reported for 7 yrs. from the date of the first missed payment that led to the charge off.
Reselling the debt to other collection agencies or making any payments will not restart the 7 yr. reporting period.
So, if by all assumption, this should be gone in December.

Answer 6

While I always encourage individuals to pay off any credit card debt (if you spent it, you owe it) you can actually start contesting that immediately.

Order your credit report. This will include instructions for contesting such issues.

After you send it, you will get a response either asking for more information or denying your appeal. This appeal will include instructions for contest once again. Fill it out, send it back.

After no more than a few rounds, this should be removed without much more effort.


And finally, be sure to do the above process for multiple credit report companies. Because it comes off of one credit report, doesn't necessarily mean it comes off of all.

Answer 7

check the statute of limitation on revolving credit for your state
and then when another collection agency writes you, then
here are the letters to send them.

creditinfocenter com