Cap One now with AllianceOne. Help...

[HighGoals]

I have two capital one cards. One current and the other that was just charged off. The charge off is with Alliance One and the rep told me that they are the third party trying to collect. The balance is $935 and the are willing to accept $420.

Advice on what to do?

[silver_idle]

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@HighGoals wrote:
I have two capital one cards. One current and the other that was just charged off. The charge off is with Alliance One and the rep told me that they are the third party trying to collect. The balance is $935 and the are willing to accept $420.

Advice on what to do?

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If the debt was verified you should go on and accept the settlement (that also assuming they havent reported to your CR yet). If they are reporting and you have the money, you could try doing a PFD but if they wont, just go on and knock it out so it will stop updating.

[FireMedic1]

Check your credit report and make sure Cap1 sold it to the collection agency. If Cap1 shows a $0 balance. They sold it to the CA and they own it. Pay it so it quits updating and then it will show $0 balance and not affect your creduit util % any longer. If there is a balance showing from Cap1. They are just trying to collect on Cap1's behalf. Then call Cap1 and offer to pay them in leui of recalling the CA for the same amount.

[OmarGB9]

+1 to Medic. I will add though, if they've sold, then the CA owns it and may do PFD, but Cap One's CO will still remain on your report.

[FireMedic1]

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@silver_idle wrote:

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@HighGoals wrote:
I have two capital one cards. One current and the other that was just charged off. The charge off is with Alliance One and the rep told me that they are the third party trying to collect. The balance is $935 and the are willing to accept $420.

Advice on what to do?

---

If the debt was verified you should go on and accept the settlement (that also assuming they havent reported to your CR yet). If they are reporting and you have the money, you could try doing a PFD but if they wont, just go on and knock it out so it will stop updating.

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Its always best to find out who owns the debt first to make the proper moves.

[Anonymous]

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@FireMedic1 wrote:

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@silver_idle wrote:

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@HighGoals wrote:
I have two capital one cards. One current and the other that was just charged off. The charge off is with Alliance One and the rep told me that they are the third party trying to collect. The balance is $935 and the are willing to accept $420.

Advice on what to do?

---

If the debt was verified you should go on and accept the settlement (that also assuming they havent reported to your CR yet). If they are reporting and you have the money, you could try doing a PFD but if they wont, just go on and knock it out so it will stop updating.

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Its always best to find out who owns the debt first to make the proper moves.

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Definitely does, I know Capital one will normally give you the option to make some type of payment before they decide to completely charge it off. I would call them and find out what CA owns it like everyone has mentioned.

[HighGoals]

Thanks everyone. Alliance is collecting on behalf of capital one. There is no Alliance on my credit report-only capital one and it’s marked as charged off. I spoke with the Cap 1 rep and she said I would need to speak with Alliance to handle anything abt the account and she gave me the number. I spoke with Alliance and she said that they are collecting on behalf of capital one. It may be on my credit report in a few months but it’s definitely not on there now.

Will settling make it look worse to lenders? I feel like I’ll never be able to get a house.

[OmarGB9]

Settling may not be as good as PIF, but it's still much better than unpaid altogether.

So to be clear, Cap One is showing CO, but is it also showing an outstanding balance?

[HighGoals]

Yes it shows a balance of $935

It shows 11/2018 150 days late. Then December says OK then January and and February says charged off then March OK then Charged Off (CO) for the rest of 2019

[Red1Blue]

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@OmarGB9 wrote:
Settling may not be as good as PIF, but it's still much better than unpaid altogether.

So to be clear, Cap One is showing CO, but is it also showing an outstanding balance?

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Why did you ask if the Balance is still showing ?