cancel
Showing results for 
Search instead for 
Did you mean: 

what do I do?

tag
Anonymous
Not applicable

what do I do?

i have 2 charge offs from cap one that i called up and tried to PFD. They said they do not do PFDs. Should I still pay them the settlement amount or should i let them sit on Credit report until it comes off. They became charge offs in jan of 2004. What do i do?
Message 1 of 7
6 REPLIES 6
chartley3
Frequent Contributor

Re: what do I do?

Pay off the settlement amount. Cap One will hire an attorney in your area and file for a civil judgement to collect what you owe them plus any interest accruing. Unless the debts are past your states SOL for collecting, they will nail you to a wall.
Message 2 of 7
Anonymous
Not applicable

Re: what do I do?

how do i know what is my sol for new york and what date do i start it from? thanks for your help
Message 3 of 7
chartley3
Frequent Contributor

Re: what do I do?

Do a google search for State Statues of Limitations for Debt. If Im not mistaken I believe NY is 6 years.
Message 4 of 7
chartley3
Frequent Contributor

Re: what do I do?

Here is a link for all states SOL
 
 
And I was correct. NY is 6 years across the board.
Message 5 of 7
Anonymous
Not applicable

Re: what do I do?

thanks chartley, so is this from the charge off date which was 1/2004? Did i just do myself a dis-service by calling them up and trying to PFD with them. I hope I did not start anything now.
Message 6 of 7
chartley3
Frequent Contributor

Re: what do I do?

That is correct. So they can try to sue you and win in court until 12/09. If you can afford to pay off the settlement amount I would. My DW found out the hard way that Cap One doesnt play around at getting their money.
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.