Capital One charged off but still accruing and billing, confused on how to settle

[bahbahd]

I'm wondering what to do about this account that is marked as a CO on 2/08 with the date of last OK status as 7/07. It looks like my last payment was 5/07, which makes sense as I lost my job a few months prior. This was a $500 limit card but I have now received a CC statement in the mail from capital one asking for a bit less than $1,900. It looks like they have been adding about $25 a month fee for "court cost" on top of a few months of late fees.  

I'd like to settle this account and PFD but not sure if the normal PFD approach will work since this account appears to be still held with the OC and not ever sold to a CA. Does anyone have any thoughts on a best approach? Should I look up the last few statements I have and offer to PFD with the last statement amount plus a few hundred extra to cover some lates? Any thoughts would be appreciated.

Date opened Nov, 2004

Date of last activity May, 200

Descriptions
Charged off account
Account closed by credit grantor

[pizzadude]

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@bahbahd wrote:

I'm wondering what to do about this account that is marked as a CO on 2/08 with the date of last OK status as 7/07. It looks like my last payment was 5/07, which makes sense as I lost my job a few months prior. This was a $500 limit card but I have now received a CC statement in the mail from capital one asking for a bit less than $1,900. It looks like they have been adding about $25 a month fee for "court cost" on top of a few months of late fees.  

I'd like to settle this account and PFD but not sure if the normal PFD approach will work since this account appears to be still held with the OC and not ever sold to a CA. Does anyone have any thoughts on a best approach? Should I look up the last few statements I have and offer to PFD with the last statement amount plus a few hundred extra to cover some lates? Any thoughts would be appreciated.

Date opened Nov, 2004

Date of last activity May, 200

Descriptions
Charged off account
Account closed by credit grantor

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They can still charge you interest even after being charged off or sent to collections if it is allowed per the original CC agreement.

Not sure what "court costs" means though.   Have they filed suit against you ?    I would recommend checking the statute of limitations for your state of residence to know where you stand if they decide to take you to court.

[bahbahd]

Yes, I had a court case that I found in the local civil court records. 

Date Filed: 11/22/2010
Returned Unserved 05/18/2011
Justice Court: Dismissed

Court cost listed on the Register of Actions was $31.

I'm not too worried about the court case since I plan to settle up with all of this and it looks like there is no judgement in my future, expecially if I can get this paid before any future new court date. I live in Texas and my SOL is 4 years. I'm assuming that is from the last date of payment or the charge off date. Really my question is how to approach settlement for closer to the original amount. 

[pizzadude]

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@bahbahd wrote:

Yes, I had a court case that I found in the local civil court records. 

Date Filed: 11/22/2010
Returned Unserved 05/18/2011
Justice Court: Dismissed

Court cost listed on the Register of Actions was $31.

I'm not too worried about the court case since I plan to settle up with all of this and it looks like there is no judgement in my future, expecially if I can get this paid before any future new court date. I live in Texas and my SOL is 4 years. I'm assuming that is from the last date of payment or the charge off date. Really my question is how to approach settlement for closer to the original amount. 

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Yeah, I would assume that it is out of SOL now, however I don't know how it would apply to their previously filed lawsuit since it was initially within SOL.   I would guess that you are ok now, but I'd chat with an attorney just to be certain.

Either way, assuming that you are going to pay them I'd just start with sending them PFD letters.   Try to negotiate a PFD agreement whereby they remove the account from your credit reports.

[2NE1]

A PFD offer works for the OC too! not just the CA. You would have to offer to PIF in exchange of TL removal.

Good luck!