NEED ADVICE- CapOne Charge off
Date: Sun, 08/09/2009 - 22:48
1. Capital one charge off, is being reported every month (Nov 2008, Dec 2008, Jan-Jul 2009). This account is now closed, by the creditor grantor.
I want to pay off this debt, though I am not financially capable of paying it off at once I am able to pay more than $200 a month if not more. Before I call CapOne I want to make sure I know what I am suppose to say to them. I would like to “pay for removal.†However I cannot pay the entire balance at once, and I would prefer not to settle but just to pay the entire balance just not all at once.
My question is: how should I proceed with this (I have read that paying off an old “charge off†can lower your credit score, but this debt is not that old)? I want to contact CapOne and try to arrange some kind of payment, since I have a job/$$ now. But since the account is “charge off†do I need to ask them if they sold it… who do I pay it to? How to I go about making sure they will report it in a way that does not hurt my
Credit (paid as agreed as oppose to settlement etc.. )? Can they “remove†the account if I agree to pay them?
Also, I have read that I need to get all this in writing, so do I have them mail me a letter before I pay them anything? How do I word these questions in a way that they will try to not take advantage of me?
I want to pay this debt. I don't want to hurt my credit. Thanks a Million
I do not know how much you owe, but I would call them and tell t
I do not know how much you owe, but I would call them and tell them you would like to "settle" this account and see what they say. Since you are willing to pay the full amount they will gladly take your money, I would get any agreement you make with them in writing and I would negotiate to have any negative comments removed from the credit report. If they have sold your account off, you might have to deal with the CA. The fact that you are willing to pay in full will make them happy to work with you.
Be sure to get any agreement with Cap One in writing before you
Be sure to get any agreement with Cap One in writing before you send them any money. I had an agreement with them they come to me with and they said they would send me a letter of agreement for me to sign and send back to them and I never got it. I called for 5 months several times a month to get it and was told its been mailed or they are working on it ECT... They still had it listed on my credit reports until just resently (7 years up). they tried suing me on it and their attorney dropped it. But cap one never did. get everything in writing when dealing with them and never send them any money without paper agreement in front of you.
Quote:Credit (paid as agreed as oppose to settlement etc.. )? Ca
Quote:
Credit (paid as agreed as oppose to settlement etc.. )? Can they ???remove??? the account if I agree to pay them? |
If the account still lies with the original creditor then 'yes'. This is one advantage of settling accounts with original creditors. But, yeah, as someone else too have mentioned, obtain every promise made by the creditor in writing.
