Capital One acct in collections w/URS what to do?

If you're sure the account is yours and the amounts are valid, I'd just send them a counter-offer for around $3000. You an do that in writing or you can call them up and make your offer (or both).

(I posted that thread before I registered an acct)

oh yeah, it's mine, no doubt really, all the basic details match, acct # and balances.

what should I do if they deny the initial counter offer? (I have to imagine they will) what should I say or do after that point?

Just keep negotiating. Tell them you only have $x and that's all you can pay.

So I called back today and talked to the woman handling my acct. I told her I wanted to present an offer to settle, told her I could come up with $3000. She responded with an "ooh, hmm. let me talk to the powers that be" and put me on hold. After about a minute she came back on the line and said that they could do $5000. I told her that wasn't going to happen. She then told me they could take the $3000 today (she was set on getting it in by the 15th and even told me she had a review after that date) and I could have til the end of the month to come up with the remaining $2000. When I denied that she said we could work out a payment plan for the remainder, to which I also declined. I then went ahead to explain that I have $3000 period and that I'm not willing to negotiate payments at this time because I have an attorney working on IRS settlement/payments right now, and I don't know what that is going to result in as far as monthly payments. I also stressed that I'm currently also trying to settle with HSBC and I may have even less to offer if I can come to an agreement with them. She said she was going to work on my offer this afternoon and call me back before the end of the day (she didn't). So I guess now it's just wait and see?

She did say my acct was in "pre litigation" what exactally does that mean?

Still no call back from URS? should that be of any concern?

Got a call back from URS today, it wasn't the same woman that I've been talking to though. So I went through the same speil with her, stuck to my guns at 3K, explained my IRS situation and that at this time I'm not willing to enter a payment arrangement. She put me on hold to "talk to her manager" and came back with the rock bottom today only offer of $4675.00 to settle. to which I politely declined, and told her as much as I'd like to be able to clear all this up without seeing a bk attorney it just doesn't look like it's going to happen. After which she actually got off the phone with me, saying "If there's anything we can do for you please feel free to give us a call"

Seems like it's dropping 200-300 dollars every couple days, guess I just keep waiting!?!?

You started too high. They don't own the debt just a regular CA. Prelit means nothing, they don't sue, and can't for that matter. They will have the account for awhile, if it were mine, next time they call I'd drop my offer to 2,500.00 and lettem know it's only going to go lower, and stick to your guns. Keep in mind there's an incentive for them to clear up the account around the end of the month... They had my last citi account for awhile and offered me 9K+ on a balance of 20K...I settled it with the next CA for 1 payment of 3K, I'm personally all settled. I have a FDCPA suit going against URS, I'll say they were very friendly but they made alot of violations...

Also consider this. Cap1 is generally sue happy, and they haven't gone that route so they may have some idea of your financial situation. If they sue, their conceeding out the gate a loss of approx 1/3rd. So 7K-$2,300 for the lawyer if a contingency basis leaves only $4690 in their pocket, if and only if it gets collected, which can cause additional fees. Now take a look at the offer from URS, $4675.00....See how the #'s are close...That's their gig to try to bring in as much or an amount which given their fees makes them look attractive (compared to attys) as a company that they Cap1 would wanna do biz with...Now also consider that generally when push comes to shove they'd already take a % close to 50% which in my opinion is Cap1's target #.Which you already offered...Thus my reasoning that you're too high to begin with...Now sure they'd take the $ as a downpayment, but I'd just lettem know, that's all folks, and that you're gonna have to pay that money back...ie it's not a gift, rather a loan from friends/family...That's why I'd reduce the offer, they're playing with you....Worse comes to worse if they Cap1 ever does decide to sue, if your default was prior to the removal of the Arbitration provisions, you could always elect arbitration which would cost Cap1 minimum of 5K in Arb fees that they can't recover per their contract...Arb allows alot of leverage versus court. Good Luck...Lastly, if they leave messages on your machine, save them, they likely violate the FDCPA and even if you didn't want to pursue that yourself, there's plenty of attys that would go after them, with simple paperwork filed over the internet which can help recoup some of the loss...Best Regards

Thanks Maggie, I really appreciate the response! I still haven't heard back from them after the last call. I did get the figures for what I potentially owe the IRS and that was not a pretty figure, also had to pay approx $200 to prepare some paper work for that mess (yes, this came out of the money I have to work with for settlements, etc.).

I've only read a little bit about the arbitration and from my understanding it's an option if you defaulted your account prior to Jan 1 2010? I defaulted by not making december's payment in '09. Just so I know, what are some of the common FDCPA laws that URS is likely to violate?

Leaving messages on home answering machines is the most common violation. Sometimes when they leave a message, it sounds and is scripted, and if overheard by anyone else in your household it violates 3rd party disclosure. Other times withURS when they leave messages it's not scripted, it's just Hi this is Joe with URS it's important you give us a call at xxx-xxx-xxxx...That violates meaningful disclosure, and it doesn't have the minimiranda...Really it's a hobsons choice (see Foti v. NCO financial) Their best bet is to just not leave messages period...

I don't think they've ever called and not left a message! funny.

I'm in the same pickle with URS. If they offer me a settlement amount, I should request that in writing before sending anything, correct? That way if they send me another "bill" or call for the remaining amount, I can sic an attorney on them, yes?