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Frequent Contributor
cqdealer711
Posts: 323
Registered: ‎02-17-2013

about to call capital one

I have a CO showing balance of ~1800 dollars.  DOFD was 6.5 years ago.  Im not within SOL .  I want to try to negotiate this down to about 500 dollars.  I hear the lowest they will go is ~50% of the balance.  However , I think calling them gives a better chance of futher negotiatons.  I just want to make sure if we dont come to an agreement, i dont restart the SOL, so what should I not say to them?

 

Im going to offer the money for a delete of the TL.  (im not optimistic on this one) .  If this fails , what are the best terms for settling with it still showing on my report?



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guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: about to call capital one

Frequent Contributor
cqdealer711
Posts: 323
Registered: ‎02-17-2013

Re: about to call capital one


cqdealer711 wrote:

 

 

Im going to offer the money for a delete of the TL.  (im not optimistic on this one) .  If this fails , what are the best terms for settling with it still showing on my report?


Thanks guiness

 

and this one?



Starting FICO Score: 10/1/12--EQ 512 | TU 492 | EX 524
Current FICO Score: 2/22/14--EQ 705 | TU 703 | EX 716
Goal Score: 700+


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Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: about to call capital one

No matter what you do it will still be scored the same by FICO.  Settled for less than full amount will not look good on a manual review.

Frequent Contributor
cqdealer711
Posts: 323
Registered: ‎02-17-2013

Re: about to call capital one

is it possible for them to remove the charge-off status?  That would help , wouldn't it??



Starting FICO Score: 10/1/12--EQ 512 | TU 492 | EX 524
Current FICO Score: 2/22/14--EQ 705 | TU 703 | EX 716
Goal Score: 700+


Take the myFICO Fitness Challenge
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: about to call capital one


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