How do I get Capital One off my credit report?

I had a Capital One credit card about 6 years ago and I didn%26#039;t like the rate after teh introductory offer so I paid the balance off and asekd them to close the account. I cut up the card and forgot about it. Months later I received a bill for omethiong like $175. I claled and they said that it was for anual fees and late charges for them not being paid. I advised them that I had closed the account and they states that they would note it on the account. Well now the account has been tunred over to a collection agency and teh balance is $750+. I%26#039;m not sure where my receipt is now, as it had been closed over five years ago, but I am sure that they can look at there records and see that the balance was paid and I calledto close teh account. What do I do now?

How do I get Capital One off my credit report?mortgage lenders

If you paid it off the entire balance (we don%26#039;t know how much the balance was) with no residual finance charges or late fees, you should be on the clear. However, credit cards work just like car loan, you have to call and get the balance including the residual finance charges. That means if you carried the balance from month to month without pay it off completely, the residual will accrue. In your mind at that time, you may thought that you paid it off but because you didn%26#039;t call to get the complete balance. That remain residual finance charges and late fees can cost you a bundle.

Closing the account has nothing to do with the remain balance. You still obligate to pay for the balance of the account whether the account is closed or not.

Call the Capital one and they will refer to the collection agency that they sold the account. Make payment arrangement with the collection agency but the fact remains is that the bad mark will stay on your record for 7 years even though you paid it off.

How do I get Capital One off my credit report?

loan

First! check your state%26#039;s statue of limitation for collection of an open account. Alabama is 3 years. Write the collection agency a cease and desist letter.

Stating you are not paying because of the stature of limitation for collection. legally they can not collect it if the statue of limitation of your state has passed.

Merchant credit guide is a junk bill collection. They will leave you alone if you write the letter.|||It is NOT illegal to collect on or sue for an out of statute debt in AL, so they CAN collect and they CAN sue you !

Lesson #1 - NEVER cancel an account over the phone. ALWAYS cancel IN WRITING and send the letter certified, RRR so you have proof of when it was delivered and accepted. If you had that proof, then you%26#039;d have some leverage.

After 6 years, Crap1 has no records left of your account and if they sold the debt to a collection agency they certainly have NO RECORDS. Dispute it and ask for validation of the debt.

If the SOL has expired (check here: http://www.carreonandassociates.com/arti... then send the CA a cease and desist letter telling them to get lost, the debt is out of statute.|||First of all good luck with Cap1. They are the worst to deal with. Most likely you thought it was paid off. Because of added interest you could have owed them a few cents more. You should have called for a pay off balance. If you have a decent collector working your account they will try to help you. You can always do the cease and desist letter. But that doesn%26#039;t erase the debt. Your account can be sent to another agency and they will start the calling all over again.|||I recommend credit repair unless you have lots of time and a high tolerance for aggravation. Some things are better left to the professionals. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters鈥攖his is the key鈥?.people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact.