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Collections Law/charged off account


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I have pulled my TransUnion account through myfico. On the account details page, Capital One Bank USA NA is listed first and has a red flag and states charged off as bad debt. I've attached the section of the report to show all of the information. For the past few months I have made payments to a CA and am wondering if I still need to do this since the debt seems to have been dismissed by the OC? I live in Pennsylvania. I am trying to clean up my report in an effort to buy a home for me and my son. Paying high rent is just keeping me down in so many way. Your expert advice is much appreciated.

Having charged the debt off is nearly an accounting term. The account will stay on your credit history for 7 years from the date of the last activity.  If you want this off of your credit, you may can negotiate a settlement that includes it being removed.  I would start at 50% of the balance less ant interest that has accrued.  Good luck with this.

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Ray A Miller


I am qualified to answer questions on the following subjects: FDCPA, FCRA and HIPAA as well as medical collections, general collections and collection agency related issues. I trained these subjects at a nationwide collection agency and customer service call center and audited around 150 representatives for compliance to the laws. I have been in the Collections Industry for over 30 years. I feel that everyone deserves to be treated fairly and with compassion and that is the way I trained collectors. Even though I worked for a Collection Agency, I get great satisfaction in helping those who have been mistreated or in need of help with these confusing issues.


I was the Compliance Administrator with a nationwide collection agency and customer service call center-I have trained hundreds of collectors on the above referenced topics. I have been in the medical collections industry for over twenty years and research these topics on a daily basis.

ACA International

Some college ACA Certified Collection Specialist

Past/Present Clients
I am retired due to medical conditions and spend a good deal of time keeping current on collection issues.

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