So I’ve been freaking out the last week after getting a letter in the mail from Capital One stating that my final payment of $73 on my car loan was 30 days past due. This was a rather big surprise to me since my contract states they are to auto-deducted payment from my checking account and had done so for the previous 59 months. To make matters worse, I need to keep my credit report in tip top shape since we’ve been approved for a home loan and wanted to make an offer on a house this month.

So I had to find my contract, highlight the section which states they are to auto-deduct payment each month, write a nice letter reminding them of this fact and fax/send it via certified mail to Capital One. Then I had to request my credit report from all three credit reporting agencies and send them a certified letter to let them know I was disputing the issue on my credit report. All told, I was out $12 in postage, an hour on the phone with customer service and a couple of hours tracking down my credit reports and writing letters.

The good news then is I just got a phone call from Capital One informing me that in light of my contract terms and since I had always paid on time, they were removing the 30 days past due mark on my credit report- claiming it an accounting error on their part. Furthermore, they’re sending me a letter notifying me of this in writing, which hopefully I can use to show the bank that I’m getting my home loan through that I’ve still got a great credit score.

*Whew!*