How Can I Repair My Credit Because of Capital One?

Question:

Dear Steve,

I defaulted on a credit card from Capital One many years ago, and the debt was sold to a debt collector. The debt collector sued me a few years ago, but I had moved out of state before the court date and honestly just forgot about it. I just received a letter of voluntary dismissal with prejudice from the debt collector.

Is there a way for me to have the derogatory mark removed from my credit report now that there isn’t even a debt to pay anymore?

If so, what reason would I use to have it removed (I’d be using the Credit Karma dispute tool, which gives multiple options for the reason for disputing the debt)?

Thanks!

Shane

Answer:

Dear Shane,

I can’t think of a legitimate reason to dispute the debt. There does not appear to be any factual discrepancy that you had a Capital One debt, defaulted on it, did not attend court, and lost.

Credit reports are supposed to contain factual information, both good and bad. Incorrect information can be disputed but this does not appear to be incorrect.

Since this was years ago, you are much better off focusing on your current credit performance and maintaining accounts that are paid on time.

While you are on the Credit Karma site, you might want to use their credit score calculator to see what you can do today to keep your score moving upwards.

In your efforts to improve your score, be aware of how balances can drag your score down.

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There are people that try to game the system to improve credit using devious tricks but it does not turn out well. Here is another podcast about people getting caught.

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Sincerely,

You are not alone. I’m here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don’t give up.

Damon Day - Pro Debt Coach