Rebuilding Your Credit

[molly73]

i have a capital one card.....DOLA is from 2003.

it is showing on my reports that the account is still open and they have not turned it over to a collection agency.

with that being said, does anyone know if they will PFD?

[MsKiwi]

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molly73 wrote:

i have a capital one card.....DOLA is from 2003.

it is showing on my reports that the account is still open and they have not turned it over to a collection agency.

with that being said, does anyone know if they will PFD?

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Pay it BEFORE it goes to a ca or worse, they sue you in small claims. They WILL take you to court. I don't think you can pfd an oc. Pay it and then try to GW them.

[molly73]

thanks fo the info.

just to confirm....they can take me to court...but since it is beyond the SOL.....that could be my defense & they could not win right?

[MsKiwi]

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molly73 wrote:

thanks fo the info.

just to confirm....they can take me to court...but since it is beyond the SOL.....that could be my defense & they could not win right?

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Correct but if you were to not show up in court, they can win by default. So show up if you get served.

[Bobby43]

I recently dealt with Capital One with a similar issue. The account was 6 years  6months since date of first late. I told them I would pay in full for a delete. They gave me a long spill Capital One doesn't do PFD. I explained the account was beyond SOL in my state and it would fall off my credit report in less than 6 months anyways. I was trying to help both of us out by offering a PFD. Capital One doen't do PFD was the response I kept getting no matter who I talked to. Sure enough it has been 8 months and it has dropped off my report without ever being paid. Good Luck. I hope you have more success than I did.

[molly73]

i have never received anything from them...been years.......wonder if they would offer a settlement amount....if i do this...it will not reset the 7 years right?

if i do settle....then it would show as being paid....which would be better then open and late right?

should i send them a letter with a settlement amount that i would be willing to pay if they marked the account as "paid in full" ?

i guess the letter would be similar to a PFD letter....does anyone have any sample letters that do this?  

Message Edited by molly73 on 03-18-2009 06:44 PM