Capital One Suing – Negotiate with CapOne or Contact Attorney?
Hello, I have just received a letter from an attorney in the state of Michigan, I now live in Florida, that says a lawsuit is being filed against me in district court for 1200$ owed to capital one. I also have 3 other capital one credit cards that I have also not been able to pay for a year that will probably be going to a lawsuit the same as this one soon.
Can I still contact Capital One directly to settle for a lesser amount and make payments to them, or now that the lawsuit has been filed (if it has) must I negotiate with the attorney on that debt, but negotiate with Capital One for the other 3 credit cards?
I have been considering bankruptcy, but if I can get on some payment plan for the debts I may be able to pay them off eventually if they are willing to do this.
What do I do about the one I just got the letter saying they were filing the lawsuit against me, and I would be receiving a summons soon? And also what should I do about the other 3 credit card bills (totaling about 3000$) as well as a few others I have that are not in a lawsuit yet, but will be. I truly appreciate any help and look forward to your response. Thank you.
Capital One lawsuit, can I still negotiate with Capital One, or must I contact their attorney? Also, what to do about the other debts?
—Tracy
Short answer
Once Capital One has sent the account to a law firm, you resolve it with that attorney debt collector, not with Capital One. A lump sum payoff is possible, and if you cannot reach an amount you can fund, the settlement can often be stretched over a few payments.
Key points on this page
- A Capital One debt placed with a law firm for collection means settling with the attorney debt collector.
- You can arrange a lump sum payoff, spread a settlement over a few payments, or set up monthly payments you can afford until the balance is paid off.
- Never commit to a payment plan you are not confident you can complete.
- Around 50 percent of the current balance is where Capital One settlements often land. Other accounts you hold may settle for less than Capital One.
- The state you live in matters. Florida has strong consumer protection laws that prevent wage garnishment, so if you cannot afford much right now, it may be better not to commit to anything until your situation stabilizes.
- Do not assume you will be sued on every Capital One account, or on any of the others.
Who is the attorney firm contacting you about your Capital One account from Michigan? Did you receive the letter direct at your Florida address, or was it forwarded to you after having been sent to an address in Michigan?
Capital One Debt Sent to a Law Firm for Collection Means Settling with the Attorney Debt Collector
It is certainly possible to contact the attorney and arrange for a lump sum pay off. If you don’t reach a dollar amount you can fund, it is possible to stretch the settlement out over a few payments. Never commit to a payment plan you are not confident you can complete.
Monthly payment arrangements you can afford until the balance is paid off are also an option.
How long have you lived in Florida? I ask because FL has some pretty strong consumer protection laws that would prevent your wages being garnished. If you cannot afford to do much right now, perhaps you should not commit to anything until your situation stabilizes.
Resolve Your Past Due Capital One Accounts
Can you come up with about half of the current balances? Fifty percent may be where you land on the Capital One accounts after negotiating your settlement. Your other accounts you mentioned having may settle for less than Capital One.
Your targets for savings in settlement, and timing your offers based on your available money, is something of a science. It can depend on who has the accounts, how long they have had them and a few other things.
How long has it been since you last made a payment on these debts? Your answer may help to determine your next step.
I would not assume that you will be sued on all Capital One accounts, or any others. If you would like to discuss your concerns and your options to resolve the debts one on one, you can call me at 800-939-8357, choose option 2. You can also submit my consult request form. Consults are free, so do not hesitate to take me up on the offer.
You can also post answers to my above questions in a comment reply below. I will respond with more details once I have some of that information.
Anyone looking to resolve Capital One debt that is in collections is welcome to post questions and concerns below for feedback.
About Michael BoveeMichael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry. He is available to speak with you about your financial struggle and helps people resolve their debt problems daily.
Hello Michael. I have just received a summons by capital one in the state of Illinois for a debt owed of $2,359. I have not made a payment in a little over a year. I haven’t worked on almost 2 years. My husband works but doesn’t make enough for us to make payments. I also have school loans racked up as well. I am not sure on how to deal with the summons. It has “appearance filing/return date: March 28, 2016” written on it. We are moving to NC on the 26th of March. What should or can I do. I can possibly make small payments each month of about $50 but can’t do so for long.
If it is Capital One suing there is not much reason to defend with the goal of winning the suit. You could defend it and buy several months to save up money to offer a lump sum settlement. Is it possible your financial situation will improve in the next, say 4 months? Would it be possible to get some financial help from a friend or family member in order to fund a settlement so that you are not dealing with this as you move?
Spending $50 a month when you cannot continue with that arrangement provides little to no benefit.
Will you be working in NC? North Carolina does not allow wage garnishment. You may just have to deal with settling the judgment later when your finances improve. That happens for many people.
Do you have any recommendations on an experienced consumer debt collection law attorney in Minnesota for Capital one law suit?
You bet, I sent you an email just now to someone you can call for a consult. Please post an update reply with how you progress so that later readers can benefit.
I am being sued by Capital One in Suffolk County NY for 7,305 by Rubin & Rothman in Islandia, NY.. I was served yesterday. I have 20 days to answer. I do not have the money to hire a lawyer. At least one that would cost more the $500.. My questions are: (1) should I answer 1st and then call the law firm or call the law firm first and (2) show I try to get a lawyer now or start to go it alone and see how far I get and (3) if you think I should start by hiring a lawyer can you recommend. anyone I might be able to afford. in my area. thanks in advance.
What is your goal for resolving the Capital One debt?
Do you have other unsecured debts (paid current or in collections), and if so, how much does it all total?
In 2007 one of Capital One’s law firms brought me to court for an unpaid bill amounting to about $2500. I paid the bill to the attorney’s office over the phone.
Almost every year after that, I would get a notice from a different law firm saying I owed the money, now with interest. I would tell them that the bill had been paid in 2007 and would fax them the paperwork.
That usually took care of the matter until about 3 years ago.
They do not accept the fact that the bill was paid even though I can show the money going into and out of our account.
We just found out recently that they have had a judgement against our home since 2007 and have placed holds on my father’s accounts because my name was also on the account. Our county clerk told us that the original attorney never marked the case as closed after we paid them off.
We have an attorney but we don’t seem to be making any progress.
Do you have any suggestions? Also do you know if there is a way to trace an electronic transaction to see where it went?
I had made notes of everything that happened, but cannot find the original set from when I paid.
I would start with filing a debt collection complaint against Capital One and the new collection attorney. It is a shame you do not have the chronology of events and notes you took. You will want to recreate all of that to the best of your ability before filing the complaint.
Thank you. I am always careful to keep that sort of thing. I just need to find it.
I am being sued by Cavalry Spv Collection Agency for a Capital One Card that’s $731.71 the Attorneys office is Jeffrey Kahn Esq..
I am in Florida, I don’t have the full balance and would prefer to make payments. This is account was suppose to be apart of my Debt Consolidation Loan but Capital One pulled out when I was behind on 2 of my payments. Do I contact the attorney representing Cavalry and show them that this account was originally on a debt consolidation plan in 2012. I don’t want to go to court but I can’t afford a lump sum. How do I handle this, my court date for pre trial conference / mediation is December 17.
The attorney will not care about the debt consolidation plan. You can likely call the collection law firm and set up a payment schedule, but it is common for them to have you consent or stipulate to a judgment. You risk that being on your credit report. You want to avoid that if at all possible.
You may be able to negotiate a lower pay off amount as a settlement. But be aware that reductions on balances this low are not great, or even attainable sometimes.
I just spoke with the law company after I spoke to Capital One who will send me the statements showing what payments were paid by the Debt Consolidation Company but it will take 7-10 business day. The representative at the Law Firm said they are researching the information and will call me back next week. I offered to pay $50 a month until it is paid he said he will forward the information to the attorney.
I owe about $6500 to Capital One. My bank account shows the last payment made was 2/2/15. I called Cap One on 8/14 to ask about a settlement. The service rep was very nice, however she said my account was “only 124 days past due” and the system had not generated a settlement offer yet. I asked if there was someone else I could talk to about a settlement and was told that unless the system generates an offer, there is nothing anyone can do. She told me I could “try to call back in 3-4 weeks and see if a settlement offer had been generated.
I have also received a letter stating that I’m 5 payments past due and in less than 60 days they will charge off and sent to a lawyer for review.
So, I’m confused why the rep said i was only 124 days past due, when it is 5-6 months past due. But beside that, is there another way for me to ask them to settle the debt? Do I need to wait the next few weeks out and “hope” the system generated an offer?
I have gathered funds and can pay 50-60% of the balance and would like to do so ASAP. Any suggestions on how to go about this is appreciated.
Thank you in advance!
You can try back in a few days and see if the next Capital One representative tells you the same thing, but yes, you do have to wait until your account is flagged as one that can be settled with a lower balance pay off you negotiate.
You are ready with a funding source, you just need to be patient.
Also, it is not all that uncommon for creditors to have a date for charge off that is different by a month or two than the one you and I would calculate.
Great, thank you so much! I’ll try to be patient, the thought of a lawsuit is a bit terrifying!
Following up, I’ve called two additional times to see about a settlement, today being the most recent as my account is due to be charged off in 9 days.
i was told there was still no settlement offer and that they will charge off before settling and another department will be handling my account.
Am I just out of luck? All mail that has been sent to me has said my account will be given to a lawyer for review. Will I have the option to settle then, after charge off?
Thank you again!
You will get the opportunity to negotiate the debt after charge off. That is more common than not. Most credit card debts, Capital One or otherwise, are settled after charge off.
Hello. I have an old credit card with Capital One that was charged off in January 2013. The balance was $2,222. My last payment was in April 2012. In the mean time, I changed residences at least three times (including moving to a new state), got married (name changed), and changed phone numbers. I have no heard anything about this debt for at least two years. However, I applied for a new credit card recently and was declined by Capital One for a pending legal matter or something similar to that wording. I checked in my current state, and in the county where I previously lived, there is an open civil suit against me. It appears that they were unable to serve me with papers, I assume because I lived in a gated residence. The court info states there was an Affidavit of Non Service on Oct. 2, 2013. The plaintiff attorney is listed, so I can easily contact them. I would be unable to pay the debt right now – I have multiple other credit card debts, medical debts from having a baby and complications post-delivery, and a mortgage with my husband. What would be my best course of action? I certainly don’t want to get a default judgment and have wages garnished. It appears to this point they have not traced my identify since I got married, changed my name and moved again. But I am sure it’s inevitable. Thank you for your help. This article was really useful.
Capital One will has connected the dots now, after your having applied for the new account and their having declined you for the reasons given.
I would suggest raising roughly half the balance Capital One is suing for in order to settle and move on. How long will it take you to raise that amount of money?
Hi – I received a 50% of the balance owed on my Capital one Credit card and contacted the lawyer to counter offer to an amount that was afffordable becasue we are in bad financial hardship. They wouldn’t even consider an offer but asked me to make an offer. So, what should I do? Wait for court notice or keep contacting them to try?
Capital One rarely agrees to settle for less than 50 percent. That same trend applies to any debt collector working for Capital One. When I do see the rare Cpaital One deal get negotiated lower than that it is on really old accounts and/or fixed income no asset situations, and usually no lower than 35%.
What are you countering with?
Hello,
I am from Ohio and just received a summons/complaint from Capital One c/o Cheek Law Firm. I owe $2400. I do not deny the debt, I have just honestly not had any money to pay. A little history….was an educator for 5 years, then got laid off. Got recalled, then 2 years later got laid off again. I was fortunate enough to get hired into another district, but was laid off 3 years later. Left the education field because I was unable to find work (districts preferred to hire recent grads since they were cheaper). The problem is that I have searched and put in applications everywhere (retail, fast food, etc) but am always over qualified. So I have not worked for 18 months. I am a single mother and do not own the home or car. I have been fortunate enough to have had family help out during this time. I do have other debt, but cannot file chapter 7, because I had to do that 6 years ago after being laid off and unemployment ran out. I contacted legal aid, and the intake rep said that I am judgment proof and to just answer the complaint by admitting the debt and letting them know that I am judgment proof. I don’t know that I agree with that, as this was just an intake rep. I am very confused. How should I answer the complaint? Thank you!
Without your own attorney it is difficult to defend an original creditor lawsuit successfully. You could answer the complaint denying the debt is owed. There is sure to be some portion of that amount that is unrecognizable (fees from penalty and interest). But to what end? If you were going to pull together half-ish the amount they are suing for and then settle, it would make sense to file a general denial to buy time. But if that is not possible, you can always circle back and settle the judgment when things turn around for you with work.
Do you have any way to pull the funds together to offer a lump sum settlement?
I received a call from Greene & Cooper asking if I had been summoned for Capital One. I said no and now know I gave away too much information. She backed me into a corner and scared me. I had a credit card with them in 2008 for $300. They now say I owe them over $1,000. I agreed to start making payments but then decided to put it off and do some more research. I live in Ga. Have they waiting too long to pursue this? Did I agree to too much now in order to fight it? I have never been served for anything from Capital one. Not sure what I should do now.
If you last paid Capital One in in 2008 than the SOL to legitimately file a collection suit would have expired last year (after 6 years).
Get in touch with an experienced consumer debt collection law attorney about unwinding this and what options you have. Your consultation is no cost and your issue may be one where you can work with the attorney without charge too (if they see an FDCPA violation like initially appears could be the case to me).
Thank you for the reply. I called after posting this and asked for a written copy of the debt they claim I have to be sent in the mail, sent me to another extension, no answer, and wasn’t able to leave a message. I’ll call back next week and see what happens then. I have tried calling around to find a consumer lawyer and the problem with that is there is no one near me that will get back in touch. I’ve called and left messages with nothing returned. I’ll try again next week with that also. My main concern is if they can claim the time to be reset because I agreed that I was given the cc back then.
You may have stopped just short of resetting the SOL if everything was verbal and not written, and also if no payment was made.
Click on the link in my comment from the other day for experienced FDCPA help.
Please do post updates with what you learn and the progress you make. It helps others when they can read how people resolve the issues.
Thanks! I called and asked for a written copy of the debt they claim I have and he kept asking if I wanted a copy of the payment agreement I set up. I said I want a copy of the debt you claim I have sent to me in writing and he said it again, “and the agreement you set up”? I was like, sure just sent me a copy of the debt. And I ended the call. Waiting on the papers in the mail now. They are very tricky with their wording and you MUST listen before speaking. They are trained to trick you. I’m so mad at myself for not knowing this a head of time. But I was scared with threats of them garnishing my wages and going to court and having to pay court cost and all that bs. DON’T listen to them. Do your research first and get a lawyer.
Please advise… Capital one auto finance notified the 3 credit bureaus that I had a late payment in dec. 2014. I have my checking account statement showing I made my dec. payment plus an extra payment. I have asked them repeatedly to correct this but they refuse. The credit bureaus have the same proof and also refuse to remove it. I would like to know the best way to get them to correct this. I’m unable to get approval for a home loan with a recent late pay on my credit reports.
Thank you.
Virginia
If you have proof that you never paid late, but both Capital One and the credit bureaus refuse to correct the erroneous reporting, I would encourage you to file a credit reporting compliant with the CFPB.
It is unusual to have a single 30 day late pay hold you back from a mortgage loan approval. Are there any other derogatory items on your credit reports?
I sent an email yesterday but don’t know if it went
thru. I owed to Capital One around $13,000 on two credit cards, that last payment I did was on Nov. and Dec. 2014. I am planning to file bankruptcy chapter
7 by November 2015 since my total credit cards debt is around $27,000.00. This is the time I need to save money to hire a Lawyer. I received an email from CO saying that they are required to charge off one of my accounts in 30 days and give me the option to pay $156.00 by June 15 to keep it from being charge off. Should i make this payment to allow me more time to gather the money to proceed with the bankruptcy?
I would not make the payment. It is throwing money away if you are certain you will be filing chapter 7 bankruptcy. That is $156.00 that puts you closer to filing by saving it.
You get no benefit from making that payment and prolonging the charge off a month.
I was just thinking about the chances of being suit or have my bank account freeze before i file the bankruptcy by November. I am in Florida and have a local government pension. But what you said makes a lot of sense.
Hi there Michael, I am a real estate broker and when the economy collapsed here in New England so did my income. The economy has been very bad for me with business and has been a huge struggle for me. I have a commercial building that has over 100k in equity in it but cannot refinance easily because of it being commercial.
I have since opened a new business which is doing ok but not a break even yet.
I recently (today) just got a summons from Capital One in the amount of 12k which was used to get through some of those times. I have not paid anything for a year now and I have very limited income. Can I negociate something with Capital One or is it the firm?
Once Capital One sends your account to an attorney, whether the attorney sues to collect or not, you typically must work things out with the law firm.
What is your goal when negotiating this debt? Are you looking to pull together enough money to offer Capital One a lump sum settlement?
Hi there Mike, I am not able to make a lump sum right now at this particular moment. Is it better to negotiate payments until I am back on my feet again?
Yes and no. When you need to set up affordable monthly payments the collection attorney is likely going to want you to sign a consent or stipulation to judgment anyway. On the flip side, you are hopefully able to negotiate something affordable and stick to it.
How long would it take you to pull together 60% or so of the amount Capital One is suing for? There is not wrong or right answer, just time.
Hi there Mike, I would be hoping at least within the next 6 months I would be able to pull together at least 60%. Is that something I should be telling the collection attorney? I just want to try and make right and working on getting my income more stable right now
Your help is GREATLY appreciated
Doug
I would not tell the attorney about that if it were me. I was asking about how long it would take to raise that amount of money in the event it would make sense to start off defending the lawsuit, but with the goal of buying time to save up to ultimately settle with Capital One’s attorney, and thereby avoid a judgment.
If you consider that strategy you will need to file an answer to the lawsuit, and possibly engage in discovery too, to get the 6 months time you think it will take.
I can refer you to some experienced debt collection defense attorneys that can help you with this if you like?
I lived and worked in GA up until 3 years ago when I moved for work. My previous place of employment (I still work for the company) was served a default wage garnishment judgement for me today from Capital One via a debt collection attorney. The total collection amount is $1400. I never received any communication at my current address regarding. If I had, I certainly would have addressed the issue given that the debt does not belong to me. In the early 2000’s I had a Capital One card with a $300 limit opened in my name online. I went through the motions of disputing it back then and having it removed from my consumer credit report. I assume this is the same debt, however when I called the representing attorney’s office today I was told that they could not discuss the case with me since I did not reside in the state. They stated that a lawyer in this state would contact me “soon”. The garnishment papers were technically addressed to my employer; do j have any re-course?
You do have some options. I would look to connect with an experienced collection defense attorney in the area of the court where the judgment was entered. Your goal would be to reverse the entry from the court. It sounds like they sued you without service of process and in the wrong state all together, so this should be really simple. I can email you contacts if you post the name of the city the court is in.
I would also consider filing a debt collection complaint with the CFPB against the attorney that sued, and against Capital One if they are still the owner of the debt. There is just no excuse for lazy debt collection of suing the wrong person; about an identity theft account; in the wrong flippin state.
Sheeesh….
Who is the genius debt collection law firm?
Eltman, Eltman, Cooper out of Atlanta. It was filed in Bibb County – Macon, Georgia. Any recommendations for representation would be appreciated. Thank you!
I sent you an email with information about 3 attorneys in the area with the experience you need. Let me know how that goes.
Here is the link to file a debt collection complaint with the CFPB.
Due to the nature of my job (which is in education, but often has months with little or no pay), combined with medical issues, I fell behind with my Capital One account. For the same reasons, I also nearly lost my home to foreclosure, but the evil bastards at Bank of America are not the subject here. Trust me, I have stories about being lied to and misled. The only reason I still have my home is that I did an end run to salvage my mortgage.
During this time, I stayed in almost constant contact with Capital One, paying what I could, but often missing a month or two, then catching up. The only help I was offered from their Hardship Department was a year (12 months) at 9.9%, then later a pay-off situation that I couldn’t possibly afford (If I was having trouble paying monthly payments, how could I possibly pay ten times that amount over a few months?). They knew my situation well, as I had contacted them both via their website communication system, as well as by phone. Their representatives were always very polite and I’ve found them to be helpful. I have no problem with that part of the situation. During this time I paid off a very large Chase account (mostly due to being hospitalized without health insurance) in a short time because Chase actually worked with me. They got all their money!
However, about six months ago, I was locked out of my CO account, which meant I could no longer make any payments (nor access my communication with them). Shortly thereafter, I received a collection notice from XXXXXXXXX ( pretty small-time collection agency). As instructed by just about any authority on debt collection, I sent a letter asking for verification of the debt within the time frame indicated (30 days), with some specific requests (one being that I not be contacted by telephone—I do not have a landline, and getting cell phone calls disrupts my work during the day). I received from them only some photocopies of statements from Capital One. Then nothing. I have not heard from XXXXXXXX again, nor did I hear from Capital One again, neither by phone or by mail.
Last week, I received a call at my office from someone identified as a representative of Weltman, Weinberg, & Reis (the call originated from Grove City, OH). I was asked for by name, but did not respond as such, as it was a business phone. I simply indicated that such calls were not allowed at the university, and got a rather brusque reply that that number was one given as to where I could be reached. Immediately upon hanging up, I received a call from the same number on my cell phone. I did not answer that call. Three days later, I received a letter from W, W, & R, regarding the Capital One debt. I received another call on my cell phone on two days ago. None of the calls have been outside the time limit indicated by the FTC. The voicemail left was business-like and, I believe, stated all the caveats necessary (in case it was a misdialed number, etc.).
Today, I contacted Capital One in an effort to deal directly with them. I spoke to several people (all of whom were polite), ending with Dominique, who indicated that since the debt had gone to collection, Capital One would no longer be able to work with me. I relayed my concern about dealing with what I’ve learned is a pretty difficult collection company to work with and that may use intimidation tactics. For a moment I felt pretty good, as Dominique stated that if I had any problems with W,W, & R, I should call back and talk to CO’s legal department. She offered to transfer me to them, so I indicated I would like that. Well, she transferred me all right. Right to W,W, & R. Fortunately, I got voicemail and didn’t have to talk to them when I was not prepared.
My concern is that I was not dealt with fairly regarding the first collection agency and Capital One. They (XXXXXXXX) failed to contact me again, as did Capital One. I did not know what was going on with my debt until a few days ago, when I received the call(s) and letter from W, W, & R. I was more than willing to work with Capital One, but they locked me out of my account. I simply asked for verification of the debt from XXXXXXXXX, then never heard from them again.
Do I have any legal recourse or even negotiating chips? I felt I did the right thing in notifying the first collection agency, asking for verification of the debt. I have no control over their responses (or CO’s), which were nonexistent.
What do you think?
Some of those authorities on sending debt validation requests miss the mark, or are taken too literally. You had other options that appear to me, from everything you shared, to be more inline with your goals at the time (repayment like you did with Chase).
Your debt validation request not being responded to is not an unfair practice. It is a fairly normal reaction from third party debt collectors. As is having your account then land with a collection attorney authorized to sue for collection.
You have not shared anything so far that suggests to me there is any legal recourse that can or should be sought. But you can certainly negotiate a settlement. I generally target 50% settlements with Capital One, but that target may be too optimistic now.
Hello!
My husband was called today by a constable stating that he has papers to serve him from Capital One. The card was maxed at $7500, so I am sure it is well over that now. He has two other capital one cards in default and a walmart cc. Those probably total around $1500 at least. I personally have $60k in student loans and like 5 credit cards. We have not paid any in almost 3 years. We do have two in good standing at the moment. They are small, but get us by with groceries and what not.
We have absolutely no money to settle with. Do you think we should claim bankruptcy together? Will that effect the home we own or our two cars? The constable told him to call him tomorrow when he is home to set up when he can deliver the papers. The funny thing is, we have never received anything from capital one! No calls, nothing! It is literally almost 3 years since we have paid on it.
My husband claimed bankruptcy in 2005 and was dishcarged.
Thank you so much!
What state do you live in?
What amount of equity do you have in your home?
Do you own both cars outright? What is the Kelly Blue Book value on both?
We owe around $102k on our home. The home right behind us, literally identical just sold for $84k. I have no idea if we have equity.
We do not own both cars. We literally just got them, because we had a car repossessed and need to work. We owe $25k on one and $18k on another. KBB is under for both.We live in Pennsylvania.
I would look into filing chapter 7. It sounds like you could reconfirm the home (or even walk away clean). Same for the cars.
I was not sure from the way your comment read, but are your student loan payments being made?
i just spoke with an attorney who informed me it might be best not to hire him and that i have a good chance of settling with Capitol 1’s local attorney for 50%. i have not made a payment since july 2013. the balance was around $11,000. now i am back on my feet and can and am willing to pay 50% one time one payment lump sum is this really something that is doable?? i have never done this before. also, i was informed , being served papers by leaving them hanging on my front door is an issue for the plantif. thank you in advance.
I do see settlements with Capital One for 50 percent even though there is a suit filed. If the attorney for Capital One is not willing to go that low, and it is all that you can pull together, be prepared to file your answer to the complaint so you can buy more time to either raise additional funds, or for the other side to soften toward accepting the amount of money you can pay.
I have been getting new credit and auto loan my fico has gone up to almost 600 but I still feel bad about my fav. cc but I see your point of just letting it fall off I also went thu my credit and had removed a lot of fraudulent stuff from nt credit so its coming around slowly but I’ll keep at it Thanks
it falls off according to Experian in Jan 2015 limits of stats are up’ thank you
I would be looking at the steps you need to take to establish open and active accounts at this point.
You lost 5 years of credit activity and may need to make progress on that more than anything else (not sure as I cannot see your credit reports).
I was in prison for 5 years and have a mess because non of my bills were paid..I due have a good income NOW and would like to know if I should payoff Cap 1 I owe over 5000.$ and my 7 years is almost up but I do owe them..should I call them and see if they could set up payments and mayeb open this account again,they were a good company.thanks
Capital One will not reopen that account for you. I would generally recommend settling the debt for less than the balance owed at this late stage of collection. But with the account set to fall off your credit reports, perhaps I would not even do that.
Can you verify the date you last made a payment to CapOne?
What state are you in?