04-19-2009 06:40 PM
04-19-2009 06:44 PM
1. Do not communicate by phone, only in writing. What they say means NOTHING.
2. DV the CA
3. Seek a PFD settlement if you can.
04-19-2009 06:47 PM
04-19-2009 06:49 PM
If you have received a notice from the CA or even calls, DV the CA. This legally prevents them from reporting it to the credit if they have not yet reported it as CA.
If the OC refers you to the CA, then this debt probably must be handled through the CA. But this is part of the value of the DV.....it will let you know if the debt is assigned or sold to the CA. If assigned, then the OC still owns it but hired the CA to collect. If sold, the CA sold for loss and is out of the picture.
04-19-2009 06:56 PM
04-20-2009 10:43 AM
04-20-2009 12:58 PM
Uh... Cap1 will screw you at every possible turn.
I had an account with them that went into collections, and was able to work-out a settlement offer, but they still reported -- I wasn't able to get anything in writing as they're loathe to do that.
You're best bet is to reach Cap1's recovery, get a manager on the phone and say that you're willing to PIF if they don't report as a CO, but you need to be preparted to pay off as much as possible. In earlier times, you could get a bank loan to pay off the CC at a different interest rate.
It's too late to try a DMP, but use their tactics when talking with the Recovery manager. Ask for reduced interest rates -- in writing -- and see what happens.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.