Help! Capital One is not following through on their end of the settlement offer

[Anonymous]

I guess I'm a victim of Cap One's games. I received a letter from Northland that states: Our client, Capital One Bank, will allow you to settle your account for $______. Upon receipt and clearance of payment this account will be considered satisfied and closed, and a release letter will be issued.

I took the settlement and paid and now Cap One is listing the remaining balance as owed, charging me interest and listing it as 180 days past due.

Is there ANYTHING I can do, as I have it in writing from Northland that Cap One will allow me to settle?

What a bunch of #%^^^&@!#!!!!!!!! And they wonder why people don't want to clear up old accounts!

[Anonymous]

call your AGs office & see if they can help..........copy the letter from the CA and your cancelled check showing payment.  file a complaint with the FTC   CMRRR    I would also copy my CR showing what Crap1 is reporting.

[Anonymous]

Do you think I should "cc" Cap One on the FTC letter? I'm furious about this.

[Anonymous]

Have you filed a dispute with CRAs on the Cap1 ??   IF not  I would  and then wait to see what they report.   Calling doesn't give you a paper trail.

IF you have disputed already and received a *verified* from the CRAs....then send Cap1  the OC  letter.

BUT still mail copies of everything to the FTC

[Anonymous]

I just filed disputes this afternoon. Although I see that Cap One updated my reports this month and the settlement took place last month. They updated the accounts noting the payment that was made and the remaining balance past due and most likely being charged 29% interest and monthly late fees. I will wait to see what the CRAs do with the disputes, but send a letter to the FTC tomorrow with copies of all my documentation.

[Anonymous]

In addition, file your complaint online at the FTC's website.  You won't be able to attach your documents, but if enough people complain about the same CA, the FTC may go after them.

[homerunstacy]

I am about to settle with Capital One next Thursday via check by phone for this old 1999 CO account that has been inflated by interest at 22,40%.  Balance they reported was $2,538.14 as of 2/11/08. Originally the charge off was for $1522.  They offered to settle with me for $1522 or I can do installment payments of $250/month.   I made the first $250 payment which stopped the interest.  I called to get another settlement  today so I can get this taken care of because it is really killing my score and util. She offered to do $1272 (subtracted my $250 I already paid).

The "recoveries specialist" verbally stated to me that they will update this as settled legally for less than amount owed but that it is possible that the credit bureau may still report this with a remaining balance for up to 45 days.  She said, however, that I could dispute with them prior to that time, and then it would go to a zero balance.  Does this make sense?  Before I shell out any more cash to them how do I make sure what happened to you doesn't happen to me! That really stinks.  I hope you can get this cleared up with them asap. 

I'm still also wondering if this is going to reset my SOL now that I started to pay.  This should fall off soon.  Anyway to find that out?  Should I demand all this in writing from her.  That it will still be removed on "x" date?  Should I be the one sending the settlement offer to them as opposed to waiting for them to send another one to me and then offer my terms? Has this worked with anyone at Capital One?  The wouldn't even consider a PFD for the full amount either... at least not verbally.

[homerunstacy]

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

SOL for for Maryland is 3 years according to the link above???  Mine is a CO account from 1999!!! 

Again, already paid $250 towards the debt.   What should be my next move with them?  Any advice is greatly appreciated.

[Anonymous]

I'm also having a problem with Capital One. Can someone help? I settled and paid the account on 1/30/2008. Equifax and Transunion have not been updated. Experian was updated, I've posted the details below. My questions are: How can CapOne report that I was 90+ days late in Jan 08 when that's the month I paid them off and before that had not made a payment since 2005. And why are they still reporting the account as Open and the last date of activity Jan 08? Can someone offer me suggestions for fixing this? Seven year payment history [?] 30 days late 1 time 60 days late 1 time 90+ days late 3 times (Jan 2008, Sep 2002) Cap One Status as of [?] Jan, 2008 Date opened [?] Oct, 2001 Date of last activity [?] Jan, 2008 Date of last payment [?] Oct, 2005 Date closed [?] Not Reported Account number [?] XXXXXXXXXXXX Loan type [?] Credit Card, Terms REV Credit limit [?] $200 Largest past balance [?] Not Reported Terms [?] Not Reported Account Type [?] Revolving Account holder [?] Individual Scheduled payment amount [?] Not Reported Account status [?] Account is Open Descriptions [?] * Account paid in full for less than the full balance

[Anonymous]

I'm also having a problem with Capital One. Can someone help?



I settled and paid the account on 1/30/2008. Equifax and Transunion have not been updated. Experian was updated, I've posted the details below.



My questions are: How can CapOne report that I was 90+ days late in Jan 08 when that's the month I paid them off and before that had not made a payment since 2005. And why are they still reporting the account as Open and the last date of activity Jan 08? Can someone offer me suggestions for fixing this?



Seven year payment history [?] 30 days late 1 time 60 days late 1 time 90+ days late 3 times (Jan 2008, Sep 2002)




Cap One
Status as of [?] Jan, 2008
Date opened [?] Oct, 2001
Date of last activity [?] Jan, 2008
Date of last payment [?] Oct, 2005
Date closed [?] Not Reported
Account number [?] XXXXXXXXXXXX
Loan type [?] Credit Card, Terms REV
Credit limit [?] $200
Largest past balance [?] Not Reported
Terms [?] Not Reported
Account Type [?] Revolving
Account holder [?] Individual
Scheduled payment amount [?] Not Reported
Account status [?] Account is Open
Descriptions [?]

* Account paid in full for less than the full balance