Capital One acct. with LRO - LRLO
Date: Thu, 04/28/2011 - 18:41
I talked to LRO today and they said they want to settle the acct with me before taking legal actions, they gave me 80 cents on the dollar and after saying I couldn't do it they said they could break it up into three payments over three months, told them I still couldn't do it. said I could do a $4500 lump sum (I owe Cap One @ $8400) they put me on hold and told me the best they could do was 75 cents on the dollar which was a little over $6300 but couldn't take payments on an offer that low.
Basically the conversation went no where after that, and the representative from LRO (who was really pretty nice on the phone) said I had to accept the offer by tomorrow, which is the end of the month for them I'm guessing. Anyway, that's where things got left.
I've tried getting directly in touch with Cap One, but no one there has talked to me since the acct. went into collections, they just tell me to hold before I can get a word out edgewise and transfer me to the collections agency.
I really want to put this behind me, as well as the IRS issues I'm dealing with (which are almost done) and I have about $5K to put towards it (this is about what the original principle on the acct is) if I stretch myself pretty thin. Any help is greatly appreciated, I don't want this to turn ugly which is what I've read will often happen with LRO.
Thanks in Advance.
Cap One will not talk to you...they hire collection agencies und
Cap One will not talk to you...they hire collection agencies under contract and unless there is cause (ie FDCPA violations) they will not discuss or interfere with the collection agencies activities.
Well you can't get blood from a stone. If you can't reach an ag
Well you can't get blood from a stone. If you can't reach an agreement, then start sending your offers by mail, CMRR. Really what else can you do? You have to live.
Keep the copies of the letters and the green cards you get back, as well as any letters you get back. That way, if they do sue you, you can take your financials and these letters to court and show the judge that you are doing the best you can. There is a good chance that the judgment can be paid in amounts you can afford.
Okay, so I've basically gotten nowhere with LRO the past couple
Okay, so I've basically gotten nowhere with LRO the past couple months on my capital one acct. I sent a couple written settlement offers with zero response other than the cert. mail receipt. Got to the point where I couldn't get them to talk to me about settlement possibilities on the phone either (I thought it was supposed to be the other way around?).
Fast forward to today, I got served papers and I'm getting sued by LRO on behalf of Capital One, effictive June 8th 2011. They are suing me for $7520.14 plus legal fees/court costs.
Everything in the paperwork I was served seems accurate except for one detail stating I "breached contract with the plaintiff on or about September 10th 2010" I'm not sure what this refers to, I went delinquent on the acct. November 2009.
Lastly, the only date it says I need to show up is June 18th 2012 for a "case management conference" There is also attached, a packet for "Alternative Dispute Resolution" from my county court stating that due to costs and time, the county court would prefer to settle the case through Mediation or Arbitration.
Any advice on a next course of action?
