Settled Capital One/NCO
Date: Wed, 03/24/2010 - 18:04
The strangest thing is that I have another Capital One account that is a Mastercard (the one settled is a Visa) and that one is set to charge off on 4/8 and they still won't settle for less than $4300 on a $5500 balance. Hopefully that will change next week.
So I called back to give them the info for payment and just wanted to pay the whole settlement off (I had them fax me the letter). Luckily I got someone who refused to take the $650 payment. She said that you have to pay as it is on the letter or it will just be applied to your balance and then the $650 would still be owed at the end of the month and if it wasnt received at the end of the month then it would void the settlement agreement.
So beware that you have to pay in the increments that are on the settlement letter. I really lucked out getting a nice person when I called in to pay. I'm sure they count on a certain number of snafus that void the settlement agreements.
Congratulations!! Sometimes its harder to get a lower settleme
Congratulations!!
Sometimes its harder to get a lower settlement offer when the balance itself is low. But 50% isn't bad either. ;) Capital One isn't always very lenient when it comes to settlement.
Debt Free ToBe, Was your settlement letter signed by someone at
Debt Free ToBe, Was your settlement letter signed by someone at Capital One? I also got 2 settlement letters ( I agreed them on the phone first) but they were not signed. I mean no signatures.
I also have another settlement offer from a Collection Agency Client SERVices and it was faxed to me unsigned. Is that the common practice?
Congratulations on your settlement with Capital One. I have one card and it's 170 days past due but no offer yet.
Yes the letter does not have a signature. It's fine though. Th
Yes the letter does not have a signature. It's fine though. These are boiler plate letters so that specific information in put in each one I would imagine. Since it was faxed I have the fax line at the top showing it came from them so I'm good.
Everyone says the end of the month is better so I'm hoping that my other one will settle in the next week or so and I can be done with Capital One.
I am sooo happy to hear Capital One is finally started to settle
I am sooo happy to hear Capital One is finally started to settle. It seems like they dont budge much, may be they are softening up. Maybe the lawsuits are getting to expensive for them.
They still won't settle my other card though and it charges off
They still won't settle my other card though and it charges off 4/8. Hopefully things will change in the next two weeks. I'll keep you informed!
It is really strange to me that I can more easily settle a $50,0
It is really strange to me that I can more easily settle a $50,000 card than a $5000. Though logically it would seem that most people could pay the low debt over time, so I guess that makes sense.
Congrats on your settlement. I know it is just as important to you as my $60k was to me.
I guess it was so exciting because it was the first one. Until
I guess it was so exciting because it was the first one. Until you do that first one you think - maybe no one will settle with me. Maybe they will sue me - of course that's not scary when they can't get anything - but still don't want to go through it.
Yes after all the reading I have done I do think that the bigger ones are easier to settle. Depending on your hardship, it's definately more believable that you will bk on a $50,000 debt as opposed to only having $5000 to file on. I mean come on ... it's $3k in lawyer fees to file bk. Who's going to do that for $5k of debt? But $50k of debt - definate possibility.