Cap1 process of charge off?
Date: Thu, 07/15/2010 - 10:49
Or does it go into their charge-off department at day 181 before official charge off at the end of the month? They're confusing.
Is there anyone who settled with them after day 180 but before the end of the month, and if so did it show charge-off?
Once this late (150-180 days) if I were to go the other route, and bring my account current, they said it would go back to cap1, and I would have a R1 credit rating (the best), and would just continue minimum payments where I can negotiate the apr with cap1 and potential forgiveness of interest and fees. But they couldn't guarantee that the card would be reinstated. Did anyone get their card reinstated with Cap1 once it was suspended?
Cap1 is totally lost: 7. Credit Reporting of Your Settled Accoun
Cap1 is totally lost:
7. Credit Reporting of Your Settled Account. If we settle your Account before it is charged off, we will charge off the remainder of your Account balance. We will then report your Account to credit reporting agencies as settled with an outstanding balance.
Yes cap One will report the charge off on the 181st day. For in
Yes cap One will report the charge off on the 181st day. For instance mine charged off on 4/7 and went to the recovery department on 4/8. They still have not offered anything other than 88% and tell me they will never take less - which is a lie since they settled my other cap one at 50% around 120 days.
Other people have reported on this forum that shortly after charge off it was sent to a collection agency but mine hasn't gone anywhere yet. I wish it would so that I could maybe get a settlement from them.
As for them reinstating the card. Why would you want to do that? I'm a happy camper to get that one out of my wallet.
I would like to reinstate it since it is a smaller balance, and
I would like to reinstate it since it is a smaller balance, and I could save one card from the bunch to rebuild my credit.
I doubt they will let you do that but you could try. It may be
I doubt they will let you do that but you could try. It may be just a way to get you to make payments. I couldn't imagine that they would want you back as a customer. don't get offended by that - I'm sure they don't want me either. LOL
You can rebuild your credit with a secured credit card from your local credit union or bank. They don't play the games that cap one does. When all of my cards went to 29.99%, the credit union card stayed the same.
29.99%.....Grrrrrrrrrrrrrrrrrrrrrrrrr!
Greetings and just an observation,
Where do the ccc's get off at charging 29.99%?:mad::mad::mad:
It will never get paid off at that rate.
Talk about usuary!
The prime rate is just about zero!
Regards,
King "Kash" Jabba Labba
What's not in my wallet?:D:D:D
29.99% for sure.
Cap 1 settles at 210 days. My account went to 2 collection agenc
Cap 1 settles at 210 days. My account went to 2 collection agencies (although the account was still with Cap 1. Alliance one for a month. They were polite and would call once a week and all I would ask if there were any settlement offers and they would respond none. After another month it went to URS and when I asked about settlement offers. I was told their client (CAP 1) would not take anything less than 50%. After thoroughly reading all these posts for months I was prepared to pay 50%. I accepted the settlement of 50% on $15,000.
Greetings "free at last" That's a great settlement with carp o
Greetings "free at last"
That's a great settlement with carp one.
And outstanding information regarding the ca's.
I'm jealous!
Respectfully yours.
King "Kash" Jabba Labba