Any suggestions of what to do know?

[Anonymous]

My husbands capital one charge card was charged off in feb. of this year..His account is now being handled by a ca..We've been receiving collection calls from the ca trying to offer a settlement..I/ve been talking to this one rep trying to work something out because we have every intention of paying..Of course he's been trying to pressure me into setting a payment up with him, saying the settlement offer is only good for that day, and that the oc wouldnt let me settle for anything less..I know better than to believe it..I told him I was going to call the oc because I didnt believe what he said..So I got my husband to call the oc to see if what the ca was telling him was true..My husband also asked the rep if he could deal with them instead of the ca..The rep told him that would be ok..So, the next day the ca rep that I/ve been talking to called to work something out..I told him that my husband was going to be dealing with the oc from now on..The ca rep said that my husband talked to someone from the ca not the oc..My husband did call the oc but when he put his ss# in the call went directly to the ca, My husband was under the impression that he was talking to the oc..So, the rep put the person on the phone that my husband talked to..Oh, and I forget to mention that the rep that I talked to first failed to recite the mini miranda, which is a violation of fair debt..The second rep that got on the phone also failed to recite the mini miranda..He was also very rude and demeaning..He pretty much called me a liar and hung up on me..I called the ca back and asked to speak to the supervisor of the rep that hung up on me..I explained what had happened and I told him that I was going to file a complaint..He then asked me If I would forgive and forget, which i think is illegal, and work something out with him..I told him no way and after I got all of his information, I ended the call..What should we do now?..I want to pay the debt, but after what I went through the other day I dont want to talk to anyone from the ca..

[Anonymous]

1.  Do not communicate by phone, only in writing.  What they say means NOTHING.

2.  DV the CA

3.  Seek a PFD settlement if you can.

[Anonymous]

The ca is not reporting, the oc is..Who should I pfd?

[medicgrrl]

I suggest you google Cap 1. If the CA is willing to offer a settlement for less than owed and the account is still within the SOL then they are giving you a good offer based on Cap 1's policies.  Cap 1 doesn't settle many accounts and from what I have read they are sue happy.  I have 2 CO's with them from 5 years ago.  They are 2 years past the SOL and I have been unable to get them to work out a settlement or a payment plan. 

[Anonymous]

If you have received a notice from the CA or even calls, DV the CA.  This legally prevents them from reporting it to the credit if they have not yet reported it as CA.

If the OC refers you to the CA, then this debt probably must be handled through the CA.  But this is part of the value of the DV.....it will let you know if the debt is assigned or sold to the CA.  If assigned, then the OC still owns it but hired the CA to collect.  If sold, the CA sold for loss and is out of the picture.

[medicgrrl]

If you call Cap 1 and don't put in an acct or SS # then it will eventually transfer you to a CSR who can transfer you to the recovery dept.  They should be able to tell you if they have sold or assigned the account to the CA.  From what I understand they typically assign and don't sell a lot of their accounts.  I would definitely DV just to keep it from reporting while you try and figure all of this out.  Just be careful with payment plans with them because I have also read about people working out payment plans and Cap 1 still suing them.  They charge very high fees and interest and their totals will increase quickly.  If you can find a way to PIF that would definitely be your best option with them.  And like the OP said...get everything in writing!!!

[QueenBean]

A quick question ...... would a company actually put an account into CO, if they were still working it through a collection agency?  I'm just suspicious that this is actually a junk-debt buyer.  Does anyone know how this works?

[PayYouNever]

Uh... Cap1 will screw you at every possible turn.

I had an account with them that went into collections, and was able to work-out a settlement offer, but they still reported -- I wasn't able to get anything in writing as they're loathe to do that.

You're best bet is to reach Cap1's recovery, get a manager on the phone and say that you're willing to PIF if they don't report as a CO, but you need to be preparted to pay off as much as possible. In earlier times, you could get a bank loan to pay off the CC at a different interest rate.

It's too late to try a DMP, but use their tactics when talking with the Recovery manager. Ask for reduced interest rates -- in writing -- and see what happens.