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