topic Re: Collection question in Rebuilding Your Credit

Collection question

Anonymous — Mon, 13 Jun 2016 20:33:32 GMT

So, I called Capital One to settle an old chargeoff and I was forwarded to the law firm that represents them (they've already initiated a judgement). I had to be forwarded to a supervisor because the first person I spoke to could not clearly explain why I could not settle my debt for less than the given amount.

The supervisor told me they already initiated a bank garnishment and they need to check with the courts to see if there are any funds being held towards the account. He said they will get back to me regarding that.

A while back I disputed the judgements on my CR and they came back updated as satisfied. Could this be why? Also, what should I do? Would I be able to settle for less, or can they decline my offer? TIA

PS: I was denied for QS.

PPS: I was approved for Victoria's secret using SCT

I am saving up for a Discover It Secured deposit, so I can increase my revolving credit. I used Discovers site to check my score, and while it is consistent with CCT, it is reporting I am 140% over limit because of this old Cap1 chargeoff.

Re: Collection question

RonM21 — Mon, 13 Jun 2016 20:39:20 GMT

I've not read a lot of success stories on dealing with Cap1 in these situations, but of course, each one is different. I would think they have a right not to take a settlement offer if the debt is valid, unfortunately.

Re: Collection question

toomchz4u — Mon, 13 Jun 2016 20:42:42 GMT

I settled with 1 of Capital ones collectors after receiving court papers and target bank after garnishment had already been done in 1 paycheck. Both accepted around 50 percent... Got my lawyer to make the phone call though... So it can be done.

Re: Collection question

RobertEG — Mon, 13 Jun 2016 20:51:28 GMT

You "disputed the judgments," and they came back as satisfied?

CRAs verify disputes of public record information by their review of the current public record.

When a judgment is legally satisfied, the judgment creditor is required to file a notice of satisfaction with the court.

If that is what is meant by the judgment was determined to have been satisfied, then the judgment creditor has informed the court that there is no more debt.

That, however, does not jive with their statement that they are seeking garnishment.

I would advise going to the courthouse and reviewing the case file.

Something is not jiving.......

Re: Collection question

Anonymous — Mon, 13 Jun 2016 20:50:04 GMT

They do not have to accept a settlement especially if they have already established a garnishment which would recover the whole amount. It never hurts to ask though.

Re: Collection question

Anonymous — Tue, 14 Jun 2016 14:46:23 GMT

Yanno, I thought about getting my paperwork, too, to really read up on everything.