United Recovery Systems and Cap One
Date: Mon, 07/26/2010 - 18:27
Submitted by Debt Free to Be
on
Mon, 07/26/2010 - 18:27
Total Replies: 1
A little history before I get into today's call. The account charged off with Cap One at the beginning of April. Went to their Recovery Department where they would not settle for less than 88%. Completely unmoveable. No calls or anything though - got a couple of letters asking me to call in. I did and no movement. Claimed they would never settle for less.
Today I received a call from United Recovery Systems. Lady was extremely nice. I went through my thing with her. She had my credit report in front of her and stated that I had a line of credit at the bank that I could use to pay them as well as room on my Home Equity Line of Credit. I explained to her that the Home Equity Line was frozen and I did not have access to it and as far as I knew the same with the credit union. She told me that I would have to supply them with the letter stating the home equity line was frozen and then she could work with me on getting a lower settlement. Normally i would not provide information but this was on my credit report incorrectly so I called the equity line and requested a letter which she said would take a week.
I then informed her that IF the credit union line of credit was still open and I used it, then filed for bankruptcy as planned I would be committing bankruptcy fraud since I knew at the time of taking the money that I would not be repaying it. She checked with her supervisor and he must have concurred.
She then asked about my Chase and B of A accounts and that they showed 0 balances and said that I was obviously paying everyone else off but not them. I explained that my attorney had settled those accounts for me. She went line for line on my credit report which was a problem because many of my creditors have reported incorrectly. This is to my advantage for rebuilding my credit score, but not when trying to show your the bum you are that can't pay their bills and has to settle.
Four hours later and several phone calls I did settle with them for 55%. Not the greatest but I'll take it!! This was my last one and what I was worried about did happen - the last one can see you don't really owe anyone else and now feel you have the money to pay in full. I had to make them see the picture that I could not make payments of any kind and that settlement was the only option. I also think being at the end of the month helped. They seem to be trying to meet some goal because it has to be paid by the end of the week or it's off.
So yeah! All done at last!
Today I received a call from United Recovery Systems. Lady was extremely nice. I went through my thing with her. She had my credit report in front of her and stated that I had a line of credit at the bank that I could use to pay them as well as room on my Home Equity Line of Credit. I explained to her that the Home Equity Line was frozen and I did not have access to it and as far as I knew the same with the credit union. She told me that I would have to supply them with the letter stating the home equity line was frozen and then she could work with me on getting a lower settlement. Normally i would not provide information but this was on my credit report incorrectly so I called the equity line and requested a letter which she said would take a week.
I then informed her that IF the credit union line of credit was still open and I used it, then filed for bankruptcy as planned I would be committing bankruptcy fraud since I knew at the time of taking the money that I would not be repaying it. She checked with her supervisor and he must have concurred.
She then asked about my Chase and B of A accounts and that they showed 0 balances and said that I was obviously paying everyone else off but not them. I explained that my attorney had settled those accounts for me. She went line for line on my credit report which was a problem because many of my creditors have reported incorrectly. This is to my advantage for rebuilding my credit score, but not when trying to show your the bum you are that can't pay their bills and has to settle.
Four hours later and several phone calls I did settle with them for 55%. Not the greatest but I'll take it!! This was my last one and what I was worried about did happen - the last one can see you don't really owe anyone else and now feel you have the money to pay in full. I had to make them see the picture that I could not make payments of any kind and that settlement was the only option. I also think being at the end of the month helped. They seem to be trying to meet some goal because it has to be paid by the end of the week or it's off.
So yeah! All done at last!
Congrats!!!! Well done to be free from the chains of debt at las
Congrats!!!! Well done to be free from the chains of debt at last...
