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Taffy
Joined: 23 Feb 2009
Taffy's page
Posts: 28
1174 Magic Points
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Subject: "Account closed at Grantors request" should I cal
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Sun Mar 15, 2009 3:39 pm
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I have an Account with Cap One with a balance of $1,204.00 (revolving account) my limit was $400.00 the rest is of course are late fees and penalties. To the best of my knowledge they have not sold this to another CA. they have it in my Account History as a "Charge Off" as 30 days as of June 2006 (SOL still in effect?) I want to get this taken care of but with the Charge Off should I start letters or what. Florida Resident 
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Taffy
Looking for the light at the end of the tunnel. |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1308
28489 Magic Points
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Mon Mar 16, 2009 6:46 am
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You should first pull out your credit report and find out whether the account is still with Cap One or has been sold off to another collection agency. If it is with Cap One, you can contact the creditor and pay it off through a repayment plan. But if it is has been sold off to another collection agency, first get the debt validated by that CA and then pay it off. Since the account has already been charged off, even if you pay off the debt, the Charge-off listing will stay there in your credit report for seven years and cannot be removed before this period.
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17413 Magic Points
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Mon Mar 16, 2009 6:55 am
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I agree with Carol. Charge off does not mean that you need not pay off the debt. If the Statute of Limitation on the debt has not expired, you should try to pay it off to avoid judgment which the creditor might bring at a future date to recover the debt. Now, if there is judgment in your credit report, it may adversely affect your credit score.
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Where there's a will, there's a way !! |
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tryingtostayafloat
Joined: 25 Mar 2009
tryingtostayafloat's page
Posts: 5
211 Magic Points
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Sat Mar 28, 2009 12:54 am
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| CALL CALL I just went through this same deal only my limit was $1,000 with capital one- so needless to say I now owe a whole lot more after court costs and attny fee's. I got a judgement and am paying monthly payments to the law firm who took me to court for capital one. Do all you can to stop it before it goes to ourt and you will save some money. |
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tryingtostayafloat
Joined: 25 Mar 2009
tryingtostayafloat's page
Posts: 5
211 Magic Points
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Sat Mar 28, 2009 12:55 am
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| I also forgot to add I live in FL also so I know for a fact they will take you to court to recover them amount due and then some too. |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 462
10934 Magic Points
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Sat Mar 28, 2009 6:27 am
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SOL in Florida is 4 years on open ended accounts and it starts from the date you have last missed your payment. First find out whether your SOL has expired or not. If it has not expired, then are required to pay off the debt. Now, send debt validation letters, only if you can repay the outstanding debt, else not. This is because as soon as you send debt validation letter, the creditor may try to recover the debt and can even sue you for the debt.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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Frank
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Subject: Statute of Limitations Florida
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Tue Apr 14, 2009 3:41 am
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| They can not collect a nickle from you as long as you havent sent a payment. If you send a payment to a collection guru the clock starts all over again.The Statue in Florida is 5 years.I have these people try to collect all the time.but they have never tried to take me to court.I have credit cards with high limits from Chase and they know I owe on cards they turned over to collection. these people keep raising my credit limit all the time. |
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anthony
Joined: 31 Jul 2006
anthony's page
Posts: 550
13573 Magic Points
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Tue Apr 14, 2009 6:52 am
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You should not make the payment only if the SOL has expired. However, if the SOL has not yet expired, and the creditors call you for the debt, you should get the debt validated and pay it off in order to avoid judgment. This is because if there is a judgment against you, it will get reflected in your credit report and will affect your credit score.
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Anthony Marx
A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible. |
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Taffy
Joined: 23 Feb 2009
Taffy's page
Posts: 28
1174 Magic Points
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Sun Apr 19, 2009 2:38 pm
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I have 3 cards with Capital One ------One card they still have and am send a DV letter the other have been sent to NorthLand and Ruben & Dudski. I spoke to R&D they stated I had a summons that was undeliverable so now that I have called them what will happen ? Northland I also called and they are calling me everyday now and I have sent them a DV letter as well but....Capital One is the only thing on my Credit Report with there address and phone number but when I called to get things in motion to fix they gave me the info on who has my account now. Nortland stated they do not report also I do not have the R&D on my report either so now what?
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Taffy
Looking for the light at the end of the tunnel. |
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memememememe
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Sat Jul 25, 2009 12:11 am
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| First of all, if it has gone to collections...then there is one way that you will not be responsible. In FLorida if it has gone to collections you will be responsible for 4 years...If it has been more than four years it has expired, however; it will continue to be on your credit report for seven years. Your best bet is to pay it off in full ...and send the payment proof to all three credit reporting agencies so that they can take it off and it will no longer negatively affect your credit. |
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starting over
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Subject: judgement
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Tue Oct 06, 2009 6:06 pm
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| what is best way to pay off a judgement, 1and half year-old. I live in florida. |
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