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

[modernsurrender]

I'd say dispute it where it hasn't updated properly and see what happens.  Did you get your settlement in writing?

[Anonymous]

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@modernsurrender wrote:

I'd say dispute it where it hasn't updated properly and see what happens. Did you get your settlement in writing?

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Yes, I did get a copy of the settlement letter and have it on file.

[Anonymous]

The same thing happened to me with a sallie mae loan. I settled for less and they didnt update. I just disputed the CRA and they reported back as a zero balance. As long as you have the paid in full letter you should be ok. If you dispute with CRA and they say you owe balance then fax them paid letter and see what they say. Never throw away that letter even after it is resolved. They could come back and try to collect years from now , hoping maybe youve lost the letter then youd be screwed. CYA

[Anonymous]

Yeah Cap one did the same thing to me.  I paid the account off in full, than got a letter saying the card was closed.  Next month I got a bill for 29 dollars membership fee.  I called Cap one and they said the account was never closed but there is a restriction on the account and I could not use the available balance.  I asked for the account to be closed, and I was not going to pay the 29 membership fee.  I am waiting to see if the card closes and the balance made to 0.  It has been a month now and I am sending a letter to dispute this to all three credit reporting groups.

Michelle

[dragnldy]

Documentation is key.  NCO tried to do that with me, too.  And told me they had no record of a settlement offer.  Had to fax them a copy of the letter they sent me to have them say "Oops.  Ok, we'll close this account as paid right away."