Capital One
Date: Mon, 09/21/2009 - 02:20
I have an old Capital One account. Fortunately I have my old statements to refer back to. I went over my $1250. credit limit in January, 2001. I skipped a few payments, they kept hitting me with fees, to where my balance jumped up around $1463. I made a final payment on April 16, 2002. I never sent anything to them beyond that. Because it was a secured account, they took my security deposit and applied it to the balance in November, 2002. They put a blurb on my new few statements stating, "we have received your request to close your account. We will close your account when your balance reaches $-0-". They had still been adding fees along the way.
Currently, on all three credit reports, my status is listed as "charged off." They have a "Balance Date" of 02-2009. Equifax and Transunion show my credit limit at $1252 while Experian has my limit at $2784.(the amt the balance finally reached before charge off I guess). But, it's impacting my score as if I have maxed out on a $2800 limit with the account being current.
I want to mail letters to the CA's stating that I'm beyond the SOL date due to my DOFD exceeding 7.5 years. But, was I in default when they started charging me fees for being overlimit, etc.? Or, was I in default after I made that last ditch effort of some kind of payment in April, 2002? Or, does the fact they charged of my account at some point impact any of this at all?
Thanks in advance,
Tracy
The statute of limitation clock has started ticking after you ha
The statute of limitation clock has started ticking after you have made the last transaction on the account. Since you have made some payments towards the account on April, 2002; it has reset the sol clock.
That depends on their state. If in Arizona, California, Florida,
That depends on their state. If in Arizona, California, Florida, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New York, Texas, Virginia, West Virgina, or Wisconsin then a payment will *not* reset the SOL - it needs a written acknowledgment and a promise to pay.
So if it is outside of the SOL reporting period, your best bet is to dispute them with the credit bureaus themselves.
even though it went delinquent when I stopped paying in January,
even though it went delinquent when I stopped paying in January, 2002 and never brought the account current?
As far as Default, Fair Isaac defines Default thusly: Quote:Defa
As far as Default, Fair Isaac defines Default thusly:
Quote:
Default A failure to make a loan or debt payment when due. Usually an account is considered to be ???in default??? after being delinquent for several consecutive 30-day billing cycles. |
So it really depends on the original creditor's definition of "default".