Capital One Account on DMP
Date: Wed, 07/14/2010 - 15:14
I have a Capital One account that is around 2k. I wasn't able to make payments for a few months due to financial hardship, but have since re-entered into a new DMP (I wasn't all too happy with my prior DMP).
I received a copy of the proposal letter from Capital One via the DMP company that my account was in collections or charged off, but that the creditor has agreed to accept payments sent on my behalf. It also states that and changes to this payment arrangement may cause my creditor to initiate collector efforts or legal proceedings and that the account can remain on the DMP for payment convenience only.
Meanwhile, my parents have been receiving phone calls from Mitchell Kay (or Mitchell and Kay?) looking to get in touch with me. When I called them they stated that they were calling in regards to the Capital One account I mentioned above and that they were wondering how I was going to resolve the money that was owed to them. Being the fool I am when I'm rushed at work, I stated that I had already received a proposal acceptance from Capital One regarding my account and I was going to pay directly to them. Of course, the gentleman I was speaking to didn't like this answered and told me that I needed to pay him something by the end of day yesterday. I told him that I would rather contact Capital One directly regarding this matter, since I was already in a payment plan with them. The gentleman responded that "fine, he would put down a note stating my refusal to pay" and that "me account would go to the legal department and they would be contacting my job to find out my pay so that they could start wage assignments".
Sorry for the long rambling. Any advice or insight into this matter? I do want to pay back my debt since I am the one who created it, I just don't trust a lot of these collection agencies.
If you have made payment arrangements with Capital One then you
If you have made payment arrangements with Capital One then you are good. If you want you can send a DV letter to the collector and that would probably be the end of it.
Also, they can not just start taking money out of your paycheck. They first would need to sue you and get a judgement from the court and some states don't even allow wage garnishments. He's just blowing smoke.
Since your creditor has already agreed to your new DMP planand h
Since your creditor has already agreed to your new DMP planand has accepted payments, you should continue making payments to them. I thinkthat you've the documents to prove that your creditor has agreed to the new DMPplan.
As for the collection agency, just send them a debt validation letter which puts the onus on them to prove that the account is yours and they own your account. I think the validation letter will put an end to the collection calls.
