topic Re: Capital One - Settlement in Rebuilding Your Credit

Capital One - Settlement

Red1Blue — Sun, 10 May 2020 16:14:31 GMT

Did any one make a settlement with Charged Off Capital One accounts ? What is your experience with them while dealing with CO accounts. What percentage they might accept as settlement ?

Re: Capital One - Settlement

ThetoriParadox — Sun, 10 May 2020 17:27:55 GMT

Has it been sold to a CA or are they still collecting internally?

Re: Capital One - Settlement

Red1Blue — Sun, 10 May 2020 17:37:13 GMT

@ThetoriParadox wrote:
Has it been sold to a CA or are they still collecting internally?

Internally.

Re: Capital One - Settlement

ThetoriParadox — Sun, 10 May 2020 17:39:38 GMT

When I was attempting to settle with them when they held it internally they wouldn't budge. They allowed me to set up payment plans etc but it was for the whole amount. YMMV but I couldn't settle until they sold it to PRA. Maybe someone else has some more input on this.

Re: Capital One - Settlement

Red1Blue — Sun, 10 May 2020 17:43:29 GMT

@ThetoriParadox wrote:
When I was attempting to settle with them when they held it internally they wouldn't budge. They allowed me to set up payment plans etc but it was for the whole amount. YMMV but I couldn't settle until they sold it to PRA. Maybe someone else has some more input on this.

Thanks. I heard Captial One is tough to make settlement with. I'll call them tomorrow and see what they say. Best case they might agree for settlement. Worst case, I'll hold it back and move on and pay off other COs with other companies. Now with the economy going down I would think creditors would be anxious to make settlements. We will see what they say when I call them tomorrow.

Re: Capital One - Settlement

Anonymous — Sat, 11 Jul 2020 05:15:15 GMT

@Red1Blue wrote:
@ThetoriParadox wrote:
When I was attempting to settle with them when they held it internally they wouldn't budge. They allowed me to set up payment plans etc but it was for the whole amount. YMMV but I couldn't settle until they sold it to PRA. Maybe someone else has some more input on this.
Thanks. I heard Captial One is tough to make settlement with. I'll call them tomorrow and see what they say. Best case they might agree for settlement. Worst case, I'll hold it back and move on and pay off other COs with other companies. Now with the economy going down I would think creditors would be anxious to make settlements. We will see what they say when I call them tomorrow.

Did you ever contact Capital One about a settlement offer? What was their response?

Re: Capital One - Settlement

Red1Blue — Sat, 11 Jul 2020 05:24:37 GMT

@Anonymous wrote:
@Red1Blue wrote:
@ThetoriParadox wrote:
When I was attempting to settle with them when they held it internally they wouldn't budge. They allowed me to set up payment plans etc but it was for the whole amount. YMMV but I couldn't settle until they sold it to PRA. Maybe someone else has some more input on this.
Thanks. I heard Captial One is tough to make settlement with. I'll call them tomorrow and see what they say. Best case they might agree for settlement. Worst case, I'll hold it back and move on and pay off other COs with other companies. Now with the economy going down I would think creditors would be anxious to make settlements. We will see what they say when I call them tomorrow.
Did you ever contact Capital One about a settlement offer? What was their response?

Yes. They gave to CA. They are very easy to work with. Settled for 20%

Re: Capital One - Settlement

Anonymous — Sat, 11 Jul 2020 06:44:57 GMT

I had a chargoff that was owend by Capital One. They still owend the debt but had another company collecting for them. The chargoff was on my report but was never listed as a collection. The collection company kept sending me a letter each month for less and less. I finnaly took the offer when it was 1/5 of the balance. I talked to Capital One and the balance on my credit report is set to be updated to 0 on my credit report next week after the hold period ends.

Re: Capital One - Settlement

Anonymous — Sat, 11 Jul 2020 15:10:18 GMT

@Red1Blue What was the debt amount and how old that you got it for 20%. Mine is 3 years old I have two averaging 1300 and 2600 and I am on a payment plan where they only want yo settle for 50-60% in their court. Who is the CA? Thanks

Re: Capital One - Settlement

Red1Blue — Sat, 11 Jul 2020 15:11:36 GMT

@Anonymous wrote:
@Red1Blue What was the debt amount and how old that you got it for 20%. Mine is 3 years old I have two averaging 1300 and 2600 and I am on a payment plan where they only want yo settle for 50-60% in their court. Who is the CA? Thanks

I am sending you a PM. Please check your PM

Re: Capital One - Settlement

Anonymous — Tue, 06 Oct 2020 02:00:53 GMT

Hi - how did you know that the account was given to a CA? Did they tell you or did it sohw up on your credit report? I have a $4500 charge off from Capital One that is being reported as a new charge off every single month and it's pulling down my credit card. Hoping to settle for $1500. How did you go about the settlement? My debt is about 3.5 years old since the last payment.

Re: Capital One - Settlement

daveg38 — Tue, 06 Oct 2020 16:12:54 GMT

I just settled with C1 for about 59% of the owed balance. Probably would have done better had it not went to an attorney (Blitt & Gaines). Oh well, at least it's paid off and I can go about my business, and pray I can get back in.

Re: Capital One - Settlement

Anonymous — Tue, 06 Oct 2020 18:29:58 GMT

Congrats on getting it settled. Can you share how old the debt was? How much it was? How it will be reflected on your credit report?

Re: Capital One - Settlement

daveg38 — Tue, 06 Oct 2020 19:10:34 GMT

@Anonymous wrote:
Congrats on getting it settled. Can you share how old the debt was? How much it was? How it will be reflected on your credit report?

Debt was 4 years old (age is from DOFD).

Paid $1789 on a $3066 debt.

Credit report will say, "$0 balance, Paid chargeoff" (although the exact verbiage may differ from bureau to bureau).

All lates will still be there. Ugh.