Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
FormallyUnconscious

4 Contributions
0 People Helped
Charged off? Proceed if you dare.
I paid my cap one auto loan in full after Maturity (10/27/15). My maturity was--> (11/14). My account was charged off 4/2015 for 352.00(the 120 day grace period) ... However I was never called,never received one letter nor threatened by any collection agency. As a matter of fact I continued to happily pay directly to Capital One from their website(with my log in)Exhibit A--> 5/2015. I set up payments until the loan was paid in full through capital one. I was never threatened with repo or sale of my acct to collection. I recently called and was told that after maturity you only get 120 days grace; then charged off and sent to collections. I never experienced this! In fact I thought our relationship was good. Until I really examined the fine details of my credit report which says paid charge off. Note that according to them I was charged off 4/1/2015 for $352 but logged in to cap one on 5/28/15 and set up my regular auto debit payment from my bank account. I have proof that every payment was sent directly to capital one; not through a collection agency. So to recap. I took care of my responsibility in full without motivation from bill collectors or other threats and they get the tax right off aka charge off. How do they write off an account as an uncollectable debt but never send a collections to communicate the urgency of the matter?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.