Capital One at 50 Percent

Cap One $5900 bal 125 days late- settled for 50% over 3 mos


Not a tremendous amount of info on Capital One and settlements so thought I'd share...


Had a business Capital One card which of course was personally guaranteed for $4800 which grew to $5900 in the 5 missed payments. Was dealing with Cap 1 till the 120 day mark at which point they turned the account over to Allied Interstate.


The first time I spoke to Allied ( a young lady with an "india" accent), she offered an 80% settlement, I countered with a 35% offer to which she transferred me to a supervisor (possibly a Cap 1 rep), he stated the young lady was mistaken at even offering 80 percent as there was no settlement offer on the account, I pleasantly ended the call.


The very next day Allied began calling my other 2 phone numbers, so the following day I answered and again a young lady with an accent began her collection attempt. I refused to speak to her and insisted on a supervisor, she reluctantly transferred me. (told her the only thing I would speak to her about is the weather!) When the superv got on the line, I explained to him since the rep gave me false info last time I see no reason to speak to them, explained the scenario to him and again offered 35% expecting him to say there was no offer on the account, he placed me on hold and spoke to his super and he came back with 50 percent. As soon as he gave the offer google voice dropped the call!!


Called Allied back and after dancing around a while I spoke to someone at Cap 1 who said they had the offer of 50 percent which I eventually took after trying for 40%. They broke it up into 3 payments over 3 mos, 1st payment due at end of this month, they are mailing the agreement, would not fax, hopefully they send the agreement, otherwise no deal. They asked how I would pay, told her online, they said ok, thought they would insist on a pre dated check or something.


Still trying to get another Cap one done, 8k bal, they are still at 70 percent and it is 260 days late! (Still with them)

Thanks for sharing your experience with us . I wish you will become successful.

Best of luck mate!!!