Asset acceptance

[matto1225]

Hello everyone,

I had several charge off's over the last couple years and all were settled out for approx 25%. I have been having a tough time with asset acceptance, who now owns my capital one account for $7,400. Any advice on how to settle with them? They keep throwing numbers out like $4,000 but i dont have it. I am new to myfico and would appreciate any help.

[bear812c]

Offer them 10%. They settled with us at that amount but it took a while for them to come around. It was about two years before it was due to age off so I guess they figured something was better than nothing. Although they absolutely would not delete the tradeline after we settled. We had to let it age off.

[gdale6]

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@matto1225 wrote:

Hello everyone,

I had several charge off's over the last couple years and all were settled out for approx 25%. I have been having a tough time with asset acceptance, who now owns my capital one account for $7,400. Any advice on how to settle with them? They keep throwing numbers out like $4,000 but i dont have it. I am new to myfico and would appreciate any help.

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If this account is not outside your states SOL---- STOP what you are doing NOW, they can sue you for the full amount plus costs and interest. One would only poke the bear if they could PIF should the need arise...

[NurseHeather14]

Just went through a battle with them. Original charge off was around 1800, they bought it in Dec. 2010, were charging 10% interest on it, at $.54 per day (according to their agent)............except they were reporting a total of almost $3300 due on my credit report. ILLEGAL. They had been charging interest since the DOFD, about TWO years before they even bought the account. Called, and deleted! This account was way out of SOL and was due to fall off of my report next year. Goodluck with this company.