Error in credit reporting

They did the same thing to me. I made a payment online and then their
site went down due to some error and when I called they saw I had made
a payment but assessed me a late and over the limit fee. They
reimbursed the fees but they left it on my credit report that I went
over the limit when the late fee they falsely place on the card caused
me to go over my limit and to this day they refuse to correct the
error.

Error? All these negative reports (Best Buy, Lane Bryant, Victoria's
Secret, Capital One) sound legitimate.

It is unclear why you should be eligible for the lowest mortgage rates
available with such a poor credit history. Don't you think a bank
that is potentially going to loan you 10's or 100's of thousands of
dollars to you should be aware of all these negative marks that you
earned?

This situaion is not an error in credit reporting. You did not pay the
account in accordance with the original terms of your account holder
agreement and ended up not paying the full amount you owed. Credit
card companies will promise you the world in order to get payment
(even if it isn't the full amount) and verbal agreements are of no
use. Unless you get something like this in writing then you don't
have an enforceable settlement agreement and it is your word againt
theirs.

I'm afraid you are not going to win this one or the similar request to
Best Buy (HSBC) and unfortunately will have to live with the negative
marks on your credit report until they cycle off in about 7 years.

I agree with Ms. Cunningham.

Sounds like you had a couple of years of just not paying your bills
and you didn't worty about the repercussions until it kept you from
getting something you wanted. Now you need to clean it up and let
time do its thing.

I have dealt with Capital One and several other card companies and I
can assure you that they never told you they would "delete" it from
your tradelines. They may have indicated that they would mark it as
paid off and closed as agreed to show that you fulfilled your
obligation, but you are stuck with that mark for at least 7 years.
Esp. since the account was settled and not paid off for the full
demand amount.

There is no "deleting" of information from credit reports unless the
information is incorrect. The whole point of a credit report is to
give potential creditors an idea of how you have handled credit over
the course of your life. To "delete" entries once they have been paid
would not give an accurate picture of your history.

They want to be able to see all you experiences with credit, not just
the good ones you want them to see. You may have to wait a little
longer and build up a bit more positive credit entries before
attempting to buy a house - esp with as closely as they are
scrutinizing borrowers now.

Good luck