Interest / added fess CC debt
Date: Sun, 01/20/2013 - 14:39
On my credit report it says Capital One charged off 414 almost 4 years ago and a collection company is contacting me to pay it for 958.00. After a CC company "charges off" the amount due can they add to it or is this the collection company that added 500.00 to the debt?
EDIT: Sorry thought I was posting in Credit Repair / Credit Report Forum and now I don't know how to move this. I just tried posting in the correct forum and it was marked as spam.
Nope...you have to work with
Nope...you have to work with whoever capital one has assigned it to.
Charge off is simply an accounting term meaning the debt has been moved from the "good" books to the "bad" books.
Capital one is an agressive litigator....
So even though it says
So even though it says Portfolio Recovery is collecting on the debt Capital One still owns it? It is weird how within 2 months it went from 414 (charge off) to 958 (when portfolio recovery got it).
I thought charged off meant they sold it to someone else. I got a letter from a law office saying they are contacting me on behalf of portfolio recovery for the Capital One debt.
I looked up the law office and apparently they are legit but skirt around the law / always take people to court. I read a lot of stories about how they don't serve people with court summons and claim they do and then when people don't show up it is a judgment against the person.
If Capital One still owns it, and Portfolio does not than can I still go through Capital One and not mess with these lawyers / Portfolio?
Yes they can still accrue
Yes they can still accrue interest...in your cases Capital One is one of the creditors who does not sell their accounts. They are doing the accruals.