So its my first post, "hello" 
I was wondering, I called Capital One as I have one bad charge-off on my CR and they said my account is no longer in collections that its moved to legal and there is no address to send anything to, just a fax number. Anyone else have this problem? I had a letter all written up to send the Collections Department to work something out, BUT they said I can only fax things to the legal department because my account was no longer in collections? I am really confused... should I get a lawyer?
Message Edited by dpinside on 07-25-2008 03:21 PM
Well I faxed them a PFD letter and said that i would only correspond over fax or by mail for documentation purposes. Waiting to hear back from them...ill keep this thread updated on progress. Hopefully CrapOne and I can come to a resolution.
DP, how OLD is this debt???
I hate to say this, but you may have woken the proverbial sleeping giant. Now, they may go ahead and sue you if you don't make an arrangement with them. Depending on your state's SoL, you may have reset the clock.
IMO, NEVER negotiate a PFD unless it's out of SoL ... it gives them more incentive to accept the PFD. Otherwise, if you're still in SoL they don't have to accept it. They can shrug and just take you to court.
And FTR, I've never heard of Cap One accepting PFDs.
Give us your state and the date of last activity (last payment) AND date of final delinquency. We can then see what your options are.
I hate to say this, but you may have woken the proverbial sleeping giant. Now, they may go ahead and sue you if you don't make an arrangement with them. Depending on your state's SoL, you may have reset the clock.
IMO, NEVER negotiate a PFD unless it's out of SoL ... it gives them more incentive to accept the PFD. Otherwise, if you're still in SoL they don't have to accept it. They can shrug and just take you to court.
And FTR, I've never heard of Cap One accepting PFDs.
Give us your state and the date of last activity (last payment) AND date of final delinquency. We can then see what your options are.
Good point, I guess I really don't expect CapOne to accept a PFD either, but I definitely don't expect them to accept payment in return for updating it to "paid as agreed". Is that even possible after it has been CO'd? I have heard before that a PFD should never be tried until after the SOL is up, but why is that? Could it hurt to try if you are planning to PIF anyway? I don't have any PFD experience since many of accounts are getting close the SOL and I am trying to tip-toe around the sleeping giant as much as possible till then.
Charge-off date is this year, Apr 2008. SOL in Virginia is 3 years, so i am still vunerable to litigation. Man, i should not have opened this can, on my CR its been reporting ND ND ND for the last couple months. But with me, I can't let unsettled debts go. Guess its my integrity of the matter thats going to hurt me in the long run. Some say i should have just let it go and not worried about it.
Some say i should have just let it go and not worried about it.I could try a PFD letter or PIF arrangement, but based on the history with people and capone they seem to not accept these and just out right don't care what happend or why it happend.
NOTE** I've also heard of people having "rehabilitation" plans by Cap One?