Cap One question

[Anonymous]

I have a CO with cap One from 6 years ago that has gone to collections and the CA had me served - going to court in August.I called Cap one and they referred me to the CA. I even wrote and said i preferred to deal with them and would pay entire amount now in exchange for removal from credit report as delinquent. Cap One did not respond. What should I do? the debt is only $1,000 and I have the funds on hand. Should I write the CA and arrange to pay now or attempt to get in touch with Cap One again?

[Anonymous]

I would guess...you should be able to pay them...in exchange for them pulling back the lawsuit...you need to try to pay that ASAP...a judgment..will NOT be a good thing for you...

[bridgetkaryn]

I have a CO with CapOne (or CrapOne as  I am starting to call em) too, I settled through NCO financial (the CA), but CapOne does not remove anything from people's reports... Grrr...  I would settle with the CA or see if the collection agency will do a PFD... Just make sure to get EVERYTHING IN WRITING!!! That is my biggest reccomendation...

Also, check your SOL with the account... they may not have a leg to stand on if you are past it...

Good LUCK!

[Anonymous]

Is this inside SOL?

[Anonymous]

They will be just inside the SOL when we go to trial in August.

[Anonymous]

If the claim was filed this month..it's within SOL...

[Anonymous]

Your best course of action is to just pay it now, they wont remove it from your report. 

So your options are..

1.Pay it off now and capital one falls off our report in 1 year. 

Or

2. Pay it off after court and you get a judgment reported for 10 years.

[Anonymous]

What should i expect in dealing with a payoff with the CA? Ask for anything specifically?

[kiki2]

Are you 100% sure that the debt is wthin SOL?  Did you default on the account 6 years ago?  Are you in a DOLA or DOFD state?  Are you referencing "open accounts" for the SOL? 

I am just curious because Cap1 tried to pull the same thing on me, served me with papers on a debt from 6 years ago.  I live in a DOFD state and the SOL for open accounts is 4 years.  I used the SOL defense and countersued (still pending). 

Just be careful and know your rights.  These guys are banking on people being intimidated by the local sheriff serving them papers and not knowing their legal rights.

[Anonymous]

yeah, they got in under the SOL, sucks....but want to face it and get er done.