Collection

[Anonymous]

Good morning,

I have a question concerning a collection on a Capital One credit card, being handled by Alliance One Receivables. 

Balance:  $890.00

Credit limit:  $300

Alliance sent an offer to accept $578.44 on behalf of Capital One Bank and said I must pay by today to take advantage of the offer.  What happens if I miss their deadline today?  Should I do a PFD letter to Alliance or Capital One?  They do not show an entry on my credit report; Capital One is the only entry showing a R9 status of Charge-off.  Alliance only shows as an inquiry.

Any suggestions - gratefully appreciated.

[Anonymous]

Who owns the account???...most likely you will have to pay whoever owns it...what is the DOFD on this account???...if the account was sold to the CA...the OC tradeline MUST show a $0 balance....if Capital One still owns the account....ask them if they will pull the account out of collections...if you PIF...

[Anonymous]

Thanks for replying slyhouse:

Alliance, the CA owns the account and the DOFD was 11/2006.  What is odd to me is that Capital One is showing a Balance Date of 8/2008 for $889, not zero and that Alliance's offer letter asks to make the check payable to Capital One.  Hmm.  If the comments on the report show "charged off" and closed by grantor, does that mean they sold the account?

I apologize for my ignorance.

[Anonymous]

No...it was say...sold(transferred)....or something close to that...if you are in the position to pay in full...I would call Capital One...and see if they will accept payment....and possibly give you a deal...maybe to settle....paid/unpaid/settled...it all weighs the same in the fico world...so see what you can do...Alliance may have just been assigned to collect on the debt for Capital One...and do not own it...