I’m new here, but have read through the boards and it looks like Capital One is a hard one to work with.  I’m thinking that my best course of action would be to pay the balance and full and keep my fingers crossed that a (or dozens) of GW letters save my credit score?

 

Here’s the background on the account:

Opened the card January 2008.  I had a good payment history until my husband I were considered filing for bankruptcy (he has a lot of debt in his name) in May of 09.  We opted against filing, but that was the last payment I made. Date of first major delinquency is 01/2010.

 

I have the funds to pay the balance of $925 in full, but want to do it in a way that will be best for my credit score.  I know that a paid charge off is just as bad, but figure I’ll get a bump with a lower util %?

 

Thanks for your help in advance.

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Greetings Fico Community-

 

I  think I may have had success with an e-mail GW letter to  Midland (PAID COLLECTION) by contacting the CEO of their parent company!!!!! Thanks to months of snooping around the FICO forums!1:smileyhappy: (THANKS!!)

 

 

His reply was short and simple but I imagine that the “compliance department’ would be the one whom handle deletions from the CRAs.??

 

 

Below is his reply in a cut and paste:

 

 

Mr. F********,

 

I will forward to our Compliance team.  I expect they will respond tomorrow.  If you don’t hear from them, let me know.

 

Best Regards,

(Name Removed for Security)

 

 

I originally contacted them in June 2010 (with no response) regarding an old PAID collection which was still reporting as 9 baddies (Judgements and Collections!!!) b/w all the CRAs.. When I received no reply, I recently re-fowarded the e-mail and asked politely for the contact to advise.

 

I have also pestered Midland with numerous phone calls within the last few months. Getting shotdown with the typical ‘we don’t do deletions for paid or setteled accounts.. BLAH BLAH BLAH.

 

Keeping my fingers crossed for a deletion with my GW response!!!*********:smileytongue:

 

Questions posted below:

 

 

 

 

Someone please advise on whether this has the makings of success!!.

 

Regards,

 

mrfulloluv

 

 

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Need Business Loan around $10,000 and Home Loan around $250,000

 

Goal MyFico Score 680 and up

 

1. My Motion to Vacate judgment is pulled on October 20 at the court.  The plaintiff has until then to respond.  I’ve yet to get anything back yet, so fingers crossed that my old paid judgment from 2006 gets removed.
2. My Capital One CC statement is on October 21st.  They didn’t post last month, so the pattern shows they will definitely post this statement.  This is my ONLY revolving account and I’ve already absorbed the Inq, so I’m expecting a nice gain in points (10-20?+?)  Yes I know to report only a 1-9% balance come statement time.
3. I sent a GoodWill to the CEO of Capital One about an account I had from 2004-2006 (perfect payments in that time frame) then I lost my job and went 30,60,90,120 and CO.  I settled with them years ago.  After emailing the CEO a girl from Executive Office called me the next morning.  Very sweet girl and very positive.  She is currently investigating the account, asked further details of my hardship, current status, etc and said she will take care of things and get back to me soon.  She called me Friday morning and then again yesterday to “touch base” and let me know that she is still working the account

So those 3 things alone, if I batted 3 for 3, i would think, would raise my score considerably. Am i right?  I have no open collections, no major baddies other than those above and have a lot (14?) good reporting accounts, only 3 are open (2 student loans totalling only $2800 now, and 1 personal loan with only $900 balance remaining). No late payments for over a year.

 

But, should I ap for maybe a store card like a Best Buy card?  Or should I let the dust settle up there and THEN go for more cards?  Only reason I want to ap is for a better looking credit mix and improved score. 

 

 

Dear MissMovingForward,

 

Thank you for your inquiry regarding your Credit Bureau report.

 

After researching your account, we have updated the information you were disputing.

 

The updated information is being provided to the following credit bureaus:

 

Four credit bureaus are listed…(Question for the forum….what is Innovis?)

 

Please allow 30 to 90 days for the above credit bureaus to update the information on your credit file.

 

Sincerely,

 

Capital One Auto Finance, Inc.

 

I’m so excited!  I can’t wait to see this 30 day late payment removed.  I will keep you posted with the score increase (fingers crossed)!

 

There is hope!  Keep at it.  Cap 1 DOES have a heart buried deep, deep within!

 

 

 

At this point I have had enough of Equifax. Why EQ keeps reporting something that should be fallen off my report? I can’t even begin to tell you how many times I submitted request for investigation and it’s all for nothing. TU and EX were swift to remove this Judgment even before it was expired and all was done on line. With EQ I have a stack of US Mail Certified Letters I have mailed to them and all for nothing… just keep getting letters back saying “verified”.

 

The Request for Deletion for Expired Judgment, that I am mailing them now is very well done, firm, and has valid Court Document. I will keep my fingers crossed and hope I will not have to write them another request for Judgment deletion… if they still don’t do it, do I have to file in court against EQ?

 

The results:

 

EQ – 4/09: 639, 5/10: 608

TU – 4/09: 629, 5/10: 599

  

Grr. So, I’m starting project credit score improvement, and I have a couple of questions.

 

Background:

 

Collections: 2

Ratio: 71%

Accounts with late payments: 7

Total late payments: 12

Revolving accounts – 16k

Installment  – 24k  (student loans, cars)

mortgage – 224k

# of accounts – 28

accounts with balances – 11

accounts open in past year – 1

recent inquiries – 11

Other: I have 3 accounts that have 0 balance that show “payment after charge off/collection” from 4 years ago

 

The only open credit cards I have currently are Kohl’s (CL $100/bal 0) and Best Buy (CL $600/bal 450 – will pay off in about 3 months), and a Chase on which I am an authorized user (CL $2100/bal 1800). 

  

Next Steps:

  

GW letters for late payments (I hope to get lucky, the large majority of my late payments are in a 6-month period in 2005-2006 when my husband was out of work, so hopefully my sob story will work on some of them). From what I’ve seen, very few have any luck with GW’s from Chase (who manages my Kohl’s) account, and that’s where FOUR of my lates are showing up. But I’m going to try.

GW letters for collections (I’m keeping my fingers crossed, I have 2, these are seriously minor and silly, all less than $200 – one I was trying to dispute when they sent it to collections and one is a medical bill)

Keep paying bills on time (Which I do very well in general – although you wouldn’t know it from my score!)

 

Should I?

 

1. Remove myself from a closed CC my husband has on which I am an authorized user? It is a closed account and the balance is 7k.

2. Apply for new credit (I don’t think so, I don’t think I’m likely to get it but I obviously need some major help with my ratio)

3. Do anything else I haven’t thought of?

 

Thanks for any help. I’m tired of living in the bad-credit-morass.

 

 

I’ve got a collection with a Holloway collection agency, I’m trying to negotiate a delete for them, and I also have an LVNV.  The weird thing is, LVNV isn’t showing up in the collection section of either myFICO reports.  At 1st it showed up as a credit card. I sent a debt  validation to LVNV, they didn’t respond, so I asked the CA’s to delete. The CA’s contacted LVNV. 

 

LVNV responded to the CA’s. but then all the negative late pay marks were gone from LVNV, and it’s not showing up as a credit card account anymore either.   But the weird thing is, it NEVER showed up under collections on my FICO.  But it does on Experian,. It shows up as a “collection” on the direct from Equifax and direct from TransUnion too.

 

I wonder if it’s not affecting my fico as a classified as collection account and simply showing up as a “regular” account, should I just negotiate a settlement if they don’t delete.  If it’s showing up as a regular account on my FICO, I wonder a deletion of it would hurt my score.

 

I was trying to get a house before April 30th. I doubt I make it, I’m turning the majority of my attention to this Holloway collection that’s actually showing as a collection on myFICO. In the meantime, while I try and figure this LVNV thing out.  Cause I KNOW that’s showing up as a collection.  I’ve gotten my other paid collection deleted with a GW, so after Holloway is deleted *fingers crossed*   I wont have any more collectionson my account according to myFICO.