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Does anyone know how I can Remove Capital One from my credit report? |
I had a Capital One card in 2002, it is now charge off the card was initially for $500, I have all sorts of fees over the year that added up to $1900, I have been dispting this because it's not correct, but it seams like everytime I dispute it it comes back remains, I want to work with them, but since it has been on my report for almost five years I was told to leave it alone, I really need help, I need a higher Credit score so that I can get a home, Can I get some help from someone please?? It would have been cheaper to pay ther card on time; $20 a month is better than having all this mess you have created. Once it is on your credit report as a charge off you are not going to get it off legitimately. You CAN get it off, but you have to be willing to dispute the thing with lies until someone makes a mistake and it comes off. I have done this and here is how it works. The credit bureaus have 30 days in which to verify a disputed item. This means contacting the creditor to ascertain that the item is correct. If for some reason they do not get a response back from the creditor within the required time, then they have to remove the item from your credit report. You may have to do this with Experian, Trans Union and Equifax if Capital One reports to all three. Equifax is the hardest. What you do is this: send a handwritten dispute to the credit bureau stating that the negative item is not yours, that you never had a Capital One credit card, that it has to belong to someone else with the same name, and that you have never been late with any payments. Even though none of this is true, you have to say it, and if the credit bureau cannot verify the accuracy of the item then it must come off. It might take a couple of years to do this but it can be done if you keep at it. i know this works because I have done it. You will have to send the same disputes over and over again about once every 60-90 days until someone slips up. It's easier and cheaper, though, just to pay your bills on time. The negative item will remain on your credit report for 7 years after it is paid; 5 years is incorrect. Bankruptcy stay for 10 years, and some Federal tax liens stay on forever if not paid. THE ONLY WAY IS TO PAY OFF THE CARD AND CANCEL IT- -IT WILL COME OFF 5 YEARS AFTER YOU PAY IT OFF.credit cards are scams for money-however you need one or two to get a loan for a home.Just cant win for losing there. It sounds like it has been charged off for some time now. I think you can easily remove that mark from your credit report. Send a letter of validation to the Credit Brus all three, that should do the trick. you can find free letters at this website www.adviceontime.com Sorry, derogatory credit accounts remain on your report for 7-years from the date of first delinquency. As long as the information is correct, you can not have it removed. Finance Manager for over 7-years / 2007 edition Consumer Action Handbook free at www.ConsumerAction.gov Most likely the debt has been sold to a JDB (Junk Debt Buyer). JDBs buy charged off debts for pennies on the dollar and then try to collect the full amount plus fees and interest. It may be outside of your State's Statute of Limitation (SOL), therefore, you have no legal obligation to pay. For your State's SOL, check the link below, http://www.cardreport.com/laws/statute-o... If you really need to get this off your report, you could offer the JDB a settlement. Often they will accept a fraction of the original debt. Before you pay them anything, however, get it in writing that they must remove all derogatory information concerning this debt from the credit bureaus. Spifman is incorrect. There is no law that says that information has to remain on your credit reports. It can be removed anytime at the request of whoever posted it there. You can negotiate a settlement contingent upon a removal, Good Luck Your best bet is to pay it off. Then it will be removed in 5 to 7 years. If there is still a negative item after you pay it off, then dispute the negative item. If your score does not increase like you want it you should try one of the solutions at www.your-credit-solution.com . They helped me to improve my credit score by 200 points. Good Luck! |
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