Help with debt collection co.

Date: Mon, 06/22/2009 - 16:59

Submitted by anonymous
on Mon, 06/22/2009 - 16:59

Posts: 202330 Credits: [Donate]

Total Replies: 3

Hi. Im trying to settle a debt with Captial one for 800.00, but the credit card only had a limit of 300.00, so essentialy Im being asked to pay 500.00 more than I had ever spent. I want to settle, they have sent me a court summons to appear for this debt, but I would like to settle for something less than the 800.00, does anyone have any advice? Help!

nows the time to settle for a few reasons - 1. you can avoid j

nows the time to settle for a few reasons -
1. you can avoid judgement (this is good for your credit) and
2. the end of the month is the time to get the best deals as CA's try to hit their monthly goals

one word about your balance - you may have only had a 300 limit, but your interest rate was default rate and im sure there were charge off fees in your original contract. the CA doesnt care what your limit was.

lrhall41

Submitted by on Mon, 06/22/2009 - 17:09

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Call the CA and see if they will settle and what they will settl

Call the CA and see if they will settle and what they will settle for.

lrhall41

Submitted by amyw2003 on Mon, 06/22/2009 - 21:56

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Hi, here is a great website with a lot of info on negotiating a

Hi, here is a great website with a lot of info on negotiating a settlement during a civil court case. If you can make a suitable arrangement, then you will only get a "preliminary judgment" against you, which is wiped out upon completion of its terms - if you default, it is automatically entered as a judgment. Just keep in mind that this is for New York and may differ slightly in your state.
"http://www.nedap.org/hotline/settle.html"

lrhall41

Submitted by Chrys Henderson on Tue, 06/23/2009 - 02:03

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