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Capital One and HSBC won't settle..HELP

Date: Tue, 12/14/2010 - 11:48

Submitted by pcb32401
on Tue, 12/14/2010 - 11:48

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Total Replies: 3


Capital One acct is still in house (barely) and they won't settle for less than 90%...HSBC is now charged off but they are the same even with the account forwarded to collections, hardly any negotiation and their collection company is still charging interest. I have called and asked for reductions and offered 30% of balance with no luck on either of them. Also owe Kubota credit the balance after a repo, and they just called and threatened a judgement. I offered 30% and they won't take it, will only take 60%. How does the judgement thing work anyway? Do I have to be notified before it takes place, or not? I want to do this myself, but I am lost.


I had a credit card with HSBC and Capital One also. I ended up settling with HSBC for 30%. Actually, HSBC was easy to work with, but took about 3 months to settle. My account with them was over 5 months past due. Capital One has really been tough. They sent my account to attorneys (Javitch, Block and Rathborne). They offered 70% but would not go any lower. After 120 days at the Attorney's office, my Capital One account has now been assigned to a collector. I just received a letter from the collector (Praxis Financial Solutions). So, I am not sure what the outcome will be with Capital One. I am going to try to stay firm on 30%.

I am not exactly sure how a judgment works. Someone will be along on this forum shortly to help you with that.


lrhall41

Submitted by Lizzie1014 on Tue, 12/14/2010 - 11:56

( Posts: 382 | Credits: )


Thanks Debt Samaritan! The HSBC one is no longer with them, if I call their #, it tells me the acct has been sold and gives me another # to call. Those are the folks who won't negotiate well with me. I didn't have any funds to try to negotiate while HSBC had the account. (It's a little over 180 days now). The judgement thing scared the crap out of me, so I mailed Kubota the first payment this morning. :(


lrhall41

Submitted by pcb32401 on Tue, 12/14/2010 - 12:11

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I believe for a judgment to be issued by the court, you have to first be served a summons. After the summons is served, I believe that they will send you interrogatories to answer. Please search this forum on how to respond to them. Then, I believe you appear in court on the specified date and time that your summons states and present your case to the judge. If you fail to appear and do not contest that the amount that you owe, a judgment will go against you. If you appear and eny the amount you owe, the court will schedule a trial. Most of the time though, a settlement is offered prior to going to court.


lrhall41

Submitted by Lizzie1014 on Tue, 12/14/2010 - 12:47

( Posts: 382 | Credits: )