topic Re: Cap One question in Rebuilding Your Credit

Cap One question

Anonymous — Tue, 13 May 2008 22:57:33 GMT

I have a CO with cap One from 6 years ago that has gone to collections and the CA had me served - going to court in August.I called Cap one and they referred me to the CA. I even wrote and said i preferred to deal with them and would pay entire amount now in exchange for removal from credit report as delinquent. Cap One did not respond. What should I do? the debt is only $1,000 and I have the funds on hand. Should I write the CA and arrange to pay now or attempt to get in touch with Cap One again?

Re: Cap One question

Anonymous — Tue, 13 May 2008 23:14:46 GMT

I would guess...you should be able to pay them...in exchange for them pulling back the lawsuit...you need to try to pay that ASAP...a judgment..will NOT be a good thing for you...

Re: Cap One question

bridgetkaryn — Wed, 14 May 2008 01:03:56 GMT

I have a CO with CapOne (or CrapOne as I am starting to call em) too, I settled through NCO financial (the CA), but CapOne does not remove anything from people's reports... Grrr... I would settle with the CA or see if the collection agency will do a PFD... Just make sure to get EVERYTHING IN WRITING!!! That is my biggest reccomendation...

Also, check your SOL with the account... they may not have a leg to stand on if you are past it...

Good LUCK!

Re: Cap One question

Anonymous — Wed, 14 May 2008 01:13:29 GMT

Is this inside SOL?

Re: Cap One question

Anonymous — Wed, 14 May 2008 03:01:55 GMT

They will be just inside the SOL when we go to trial in August.

Re: Cap One question

Anonymous — Wed, 14 May 2008 03:12:00 GMT

If the claim was filed this month..it's within SOL...

Re: Cap One question

Anonymous — Wed, 14 May 2008 03:22:22 GMT

Your best course of action is to just pay it now, they wont remove it from your report.

So your options are..

1.Pay it off now and capital one falls off our report in 1 year.

2. Pay it off after court and you get a judgment reported for 10 years.

Re: Cap One question

Anonymous — Wed, 14 May 2008 22:41:47 GMT

What should i expect in dealing with a payoff with the CA? Ask for anything specifically?

Re: Cap One question

kiki2 — Thu, 15 May 2008 03:48:59 GMT

Are you 100% sure that the debt is wthin SOL? Did you default on the account 6 years ago? Are you in a DOLA or DOFD state? Are you referencing "open accounts" for the SOL?

I am just curious because Cap1 tried to pull the same thing on me, served me with papers on a debt from 6 years ago. I live in a DOFD state and the SOL for open accounts is 4 years. I used the SOL defense and countersued (still pending).

Just be careful and know your rights. These guys are banking on people being intimidated by the local sheriff serving them papers and not knowing their legal rights.

Re: Cap One question

Anonymous — Fri, 16 May 2008 03:32:59 GMT

yeah, they got in under the SOL, sucks....but want to face it and get er done.

Re: Cap One question - The Tide turns

Anonymous — Mon, 19 May 2008 23:05:16 GMT

After viewing your message i took another long look, including pulling some old reports and it turns out my Cap One account has a DOFD of 11/2001 and is due to drop off on 12/2008. I am in Tennessee where the SOL is 6 years. They had me served in Jan of 08 with a court date of Aug 2008 - just two months before it is due to drop off my report. Not sure if Tennessee is a SOL or DOFD state. I was pluggin away for a PFD with Cap One directly to avoid the CA and court date. It now looks like THEY SERVED ME 2 MONTHS PAST THE SOL and I have them in a corner. What do you think?

Re: Cap One question - The Tide turns

Anonymous — Sun, 25 May 2008 02:34:11 GMT

Any thoughts on this folks?

Re: Cap One question - The Tide turns

llecs — Sun, 25 May 2008 02:54:55 GMT

I'd seek legal cousel to be sure. Some states allow for a carry over of SOL if moving from one state to the next, meaning two different SOL periods could apply.

If you are 100% certain, then show up to court and state that it was past SOL and ask for a summary dismissal.

BTW, PFDs with CapOne are next to impossible. DW had one and they denied over and over and over again. Sent something like 8-10 PFDs with maybe 2 responses to the negative. Then one day, they changed the balance due to $0 on each CR. No explanation, but likely due to them selling it, I assume.

Re: Cap One question

Anonymous — Mon, 27 Oct 2008 05:29:20 GMT

I aggree with Kiki--I settled with that agency before I knew enough to check the SOL. It was over and now I have a late payment reporting for the settlement...