Ask The Get Out of Debt Experts Charge Off

Capital One is Charging My Interest for an Account They Charged Off. – Caren

“Dear Steve,

Back in 2001 I had an account with Capital One. I disputed a charge and never paid and it resulted in them both closing and charging off the account in 2002. This was over 8 years ago. I have heard nothing on them, no collections letter, no judgements; nothing. Then out of the blue I receive a letter from Capital One saying my account is past due and they charge interest on the account for the last 3 months. I have not spoken with them and there is no way I would have re-opened my account. Now I find out they are charging me interest on an SOL account I disputed, they closed and charged off.

Can the original creditor collect interest on a debt that has reached SOL?


Dear Caren,


A charge off is purely an accounting function required by the Office of the Comptroller of the Currency once an account is 180 days delinquent. It does not eliminate the underlying debt.

A debt can still accrue past the statute of limitations and it can still be collected on. The only thing the statute of limitations blocks are lawsuits for that debt past that date.

It sounds like even though you disputed the debt that Capital One did not resolve the dispute in your favor back then and left you owing the debt.

If you have ongoing concerns about this account I suggest that you contact a local attorney licensed in your state for specific legal advice.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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