cancel
Showing results for 
Search instead for 
Did you mean: 

Help me send settlement offer for CC out of SOL

Established Member

Help me send settlement offer for CC out of SOL

I have an old Cap 1 card that is out of the SOL. But of course it is still reporting (CC SOL in KS is 3 yrs, but its been less than 7 yrs so still showing up)  I have read a million posts on myfico that Cap1 doesn't do PFD so I'm going to save myself the stamp. I plan on sending them a settlement offer since I know I can't get a PFD. Balance is $1100. I was planning on offering $200 settlement and mentioning in my letter that I know this debt is out of the SOL but I want to offer $200 in exchange for the marking it "paid in full" instead of "settled". Has anyone done a settlement with a CC that is out of the SOL?

 

I wonder if Cap1 would consider a PFD since it IS out of SOL, any thoughts on this? I've just read over and over that cap1 is hard core and will not budge.  Plus I don't really feel like paying $1100.  

 

Has anyone ever done a successful settlement PFD? Does that exist? Lol

Starting: 570
Current: TU Fico 616
Goal: 700+
3 REPLIES
Established Contributor

Re: Help me send settlement offer for CC out of SOL

The worst thing that can happen is they deny the offer. I'd go for it.


AMEX PRG - NPSL I AMEX Everyday Preferred - $34.8k I Capital One Venture - $20k I Chase Sapphire Preferred - $25.5k I Chase Southwest Rapid Rewards Premier - $20.7k I Barclay Arrival + - $10k I Capital One Quicksilver - $10k I NFCU Flagship Rewards Visa Signature - $15k I NASA FCU - $10k I Texell FCU Visa - $5k I Chase Freedom - $9.9k I Citi Double Cash - $7.8k I Discover IT - $5k I NFCU CLOC - $15k I Total Unsecured Credit - $188,700

EQ FICO - 714 (5/24/16) I TU FICO - 772 (5/24/16) I EX FICO - 770 (5/24/16)
Frequent Contributor

Re: Help me send settlement offer for CC out of SOL

+1

Highlighted
Frequent Contributor

Re: Help me send settlement offer for CC out of SOL

Hate to be a naysayer, but...

 

We have a 6.5 year old CO with cap1. I've GWed, begged, pled, etc...and nothing. FINALLY this week my husband got in touch with a supervisor at the internal collections deaprtment who agreed to a 50% settlement.

 

She claims 50% is the absolute lowest they will settle for...that's to report a o balance, not for a deletion.

2/24 (Lender Pull) EQ 613, TU 553, EX 589
April EQ 633, My Fico TU 638, EX ??
Current EQ 643, TU 652, EX 633 (lender pull 5/11)
Goal (we made it!!)- Over 640 middle by 5/15