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gatorade88

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Making payments on a charged off account
I am enrolled in a debt management program that has been making payments on my credit card accounts. Recently one of my capital one accounts got charged off because I skipped a couple payments and then didn't make the minimum payment. I have been paying them for the last 3 months but now it is "charged off". I just spoke with Capital One who says if I keep making payments on my charged off account that it won't go to collections, but I'm wondering if this is really true? I have heard horror stories about charged off accounts getting sent to collections agencies.

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Get it in writing if you can. Is the Cap 1 card in your DMP? If so, and they are accepting the payments, they most likely will not send to collections. But at this point, a charged off account is an account they have given up on ever collecting. The good part? You are not being charged any interest, so anything you pay goes straight to paying off the debt.  If you are making the payments directly to them yourself and they are cashing the checks, you should get something in writing from them to protect yourself. 

I had a couple of collection accounts that I decided to pay directly to original creditor, was able to bypass the collection agencies, AND get them removed from my report by doing this. 

I'll say one last time, I'd get something from them in writing if they say it will not go to collections if you pay even if it is charged off.  Good luck

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