On my credit report, I have listing for a Capitol One account that was sold to NCO financial. NCO financial is not on my report, but the Capital One is and shows a "0" balance "sold to a collection agency." The posting will be removed from my account in 3 years, and the SOL has passed.
I would like to find a way to clear this from my record, if possible. Are there any negatives that could happen by my filing a request for debt validation with Capitol One? Does anyone have any other suggestions?
You need to file a dispute with the credit reporting agency, let them know also that the statute of limitations has expired, they may remove it on the spot or they will do an investigation. File the dispute and they will act on it.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.