Capital One Credit Card Debt

[Erika3o3]

Ok, so last year was a very tough one for my family. We fell really far behind on a handful of our bills. We at the time has 3 capital one credit cards. We closed them all with a balance because we really didnt know what else to do. Anyways fast forward to this month we received 2 letters in the mail for 2 of the cards from Machol & Johannes LLC Attorneys stated the 2 CC debt amounts ( one for 2,052 and one for 2,344 ). It states in the letter that there is no lawsuit filed against us and no decision has been made to file any such suit but is an attempt to collect a debt. 

I'm wondering how to go about handling this. Would it be possible for me to settle both of these debts for less then I owe and do so for a (Paid as agreed or Pay for delete) or how exactly should we handle this?? We dont have the funds to pay them off in full but do have some money to do a settlment amount. 

thank you for any and all help. I have to respond to these letters by October 20th (30 days from the date of the letter, or they assume this debt is valid as stated on the letter)

[Erika3o3]

I just called Capital One themselves and spoke to a collections rep and they told me that at least one of my 3 accounts was sent to a place called First Source collection (866-689-2036) I dont know why I have letters from Machol and Johannes for 2 of my cards and them telling me that one of my cards (they didnt say which one) was sent to First Source. They said they didnt know if the others were also with FIrst Source since I didnt have the account numbers for them. 

[Anonymous]

I can't speak for First Source, but I had a Capitol One card years ago and received a few letters from the Machol & Johannes office as well after I defaulted.  I initially didn't respond and they did eventually file a motion for a default judgment in which I was served.  In order to stop court proceedings I had to call the company and set up a monthly payment plan to pay off the balance, but once I did finish paying the final balance they deleted it from my credit report and Capitol One started sending me pre-approval offers again.  

[Anonymous]

Collection agencies buy debts from companies. It can be tossed around to several different agencies over a period of time. However it sounds like that is an attorney office and not collection agency. Sounds like they are saying you need to pay before a lien is placed or something to that effect. No way to be sure til you call and talk to them