Capital One BK Unit

Date: Thu, 04/08/2010 - 07:19

Submitted by anonymous
on Thu, 04/08/2010 - 07:19

Posts: 202330 Credits: [Donate]

Total Replies: 7

Has anyone had any experience with moving the file from the regular collection unit to the BK unit? I had consulted a bk attorney back in January and had told Cap One that I had done that. Well yesterday I got so frustrated that I told them that I wanted to give them my attorney info. They didn't want to take it but finally did. Doing this will stop the calls they said which would be good since they were calling every hour on the hour even if I had already talked to them that day.

Anyone have experience with this unit and if they will give out a better settlement or at least a reasonable settlement? I'm wondering if this unit has more power to negotiate than the call center who can only go by what is on their screen.

Never heard of one before, but wonder never ceases. Have you

Never heard of one before, but wonder never ceases.

Have you had a chance to speak to this so called bk unit? I also have a Cap One card which is in serious delinquency.

lrhall41

Submitted by on Sat, 04/10/2010 - 03:29

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They will consult the attorney to see if the bankruptcy filing i

They will consult the attorney to see if the bankruptcy filing is valid. If you have not retained the attorney, they will continue calling you back.

The bankruptcy unit I would assume works on closing out accounts. Once a bk is filed, the automatic stay goes into effect and they can no longer collect. So I would assume no real collections goes on it that department.

lrhall41

Submitted by SOAPLADY on Sat, 04/10/2010 - 04:35

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Thanks SoapLady. I was wondering what this unit did - if they d

Thanks SoapLady. I was wondering what this unit did - if they don't do any collections then this may not work. I knew that they would start calling again once they actually talked to the attorney to see that I had not filed yet, but was hoping just the fact that I met with someone (which the attorney has agreed to verify) will get them to come in with a better settlement that I can actually do.

And to Guest - I have not spoken to the bk unit. The guy on the phone would not give me a phone number for that unit.

lrhall41

Submitted by on Sat, 04/10/2010 - 06:53

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If an attorney is handling a bankruptcy, they wont even attempt

If an attorney is handling a bankruptcy, they wont even attempt to negotiate.

At my old agency, non collectors worked the BK unit...it was all administrative work.

lrhall41

Submitted by SOAPLADY on Sat, 04/10/2010 - 07:10

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Guest, I understand your thought process in what you are attempt

Guest,
I understand your thought process in what you are attempting to do, but it does not work with CapOne (or many other creditors for that matter).

CapOne does have a hardship department that you can try to connect with. If you have a hardship that qualifies under their internal policy and can document it if requested, try that route in order to qualify for a departure from the typical settlement %.

Mileage may vary

lrhall41

Submitted by on Sun, 04/11/2010 - 11:15

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Hardship department was no help. In fact the payment to pay it

Hardship department was no help. In fact the payment to pay it off on the hardship plan was slightly ore than the regular payment. That's why i wanted to settle instead.

lrhall41

Submitted by on Tue, 04/13/2010 - 07:06

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DFB, My comment was in reference to the hardship consideration f

DFB,
My comment was in reference to the hardship consideration for a steeper reduction in settlement.
It sounds like you spoke with someone about the 6-12 month hardship plan that CapOne will sometimes offer an account holder where the account stays open.

Mileage may vary

lrhall41

Submitted by on Tue, 04/13/2010 - 11:05

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