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Established Member
Posts: 31
Registered: ‎01-26-2012
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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+
Established Contributor
Posts: 553
Registered: ‎02-27-2012
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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.

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Frequent Contributor
Posts: 308
Registered: ‎04-26-2012
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Re: Help me send settlement offer for CC out of SOL


Frequent Contributor
Posts: 291
Registered: ‎02-25-2012
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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

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