Settling Cap 1 Charge off

[Anonymous]

If i settle with Capital One for a charge off for 50%, can a collection agency pop up some day looking for the other 50%?  The account is past the 4 years SOL and isnt scheduled to fall off until early 2019.  Eeeek...

It's not being reported by any other agency on any of my reports.  Thanks.

[Anonymous]

Of course not...

[RobertEG]

Just be sure that when you settle, it is clear that the payment is considered full satisfaction of the debt.

If, for example, you were to simply send a partial payment with some cover letter saying you consider the payment as discharge of the debt, that would likely not be considered an agreement that the debt was discharged.

[Anonymous]

Thanks Robert.

[Anonymous]

If I were to make monthly payments to Capital One to pay the full balance off on this charge off will the monthly reporting show I'm doing that or will it only update once its paid in full?  Anyone know?