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czar0328

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how can i get this charge off removed please help new to this
as soon as i turned 18 i received an offer from cap1 and im 18 and loved money as much as i do now so i took it spent it and didnt care about it im 22 have a kid and much more expensive life now and i pay everything cash ........recently i been thinking about buying a house and a boat ......i payed off the credit card that went to collections and now i dont have a negative mark from the collections company but from cap1 "charged off/ sold"............any advise to get this off im willing to try just about anything





thank you

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Live and LEARN!!

Helpful to 3 out of 4 people

The Fair Credit Reporting Act is a federal regulation that requires all credit transactions remain on the credit report for at least 7 years past the 'date of last activity' which is the charge-off date on that credit card.  There is no way to remove it before then.

You need to realize that you need a good credit history showing proper use of available credit before you can even dream of owning a house, unless you save up and pay cash.  Use the tools on this site to learn a few more things so that you can have what you want, eventually. 

Reply by
czar0328

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okay understood now what would you suggest i do to start using my credit which bank credit company i need to start somewhere secured no problem with me ......i just dont want to go around applying everywhere

thanks

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don't believe the nothing you can do for seven year line, the law is on your side.  look for details. does all imformation match on all three bureaus. i'm contesting on grounds of di fferent high balances, different opening dates, different adresses.  They must prove all is accurate and sent to correct address.  write them a letter stating, I do not recall opening an account with a collection agency,  Please send me a copy of the original contract I signed, with first and last months statement or settlement terms.  this makes the bureau go back to the collection agency and request information.  The collection agency has no incentive to respond since they've already been paid.  There are several approaches. persistence and knowing your rights under the law will win in the end. I completely reject jw sister's statement of " there is no way to remove it till then.  I will do a follow up when my dispute is complete, and let you know the result.  If jw sister is correct, i will admit it.  I have successfully removed collection/ charge offs in the nineties, but can"t document it.  if I succeed on this dispute, and i believe I will, I will be more than happy to prove it to jw sister.

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