Settling with capital one

Has anyone ever settled with capital 1? I owe $15,000 got a pre-litigation letter today asking for payment in full.

10 Answers

Are you dealing with Capital One, N.A., or Capital One Services, LLC?  The latter *is* a collection agency--it's the in-house collections department of Capital One.


Is what Teresa saying true? Has anyone settled with them? Do they send you to collections first then sue you or do they send your account from them straight to a lawyer? Soooo confused!


Could luck..Capitol One sued me won.100 %,then the attoney sued me,for suing me and won.

Then the guy that sued lost his license for bad collections..no longer can practice in Oregon.

He than sold my debt to a new guy...so my debt started all over again.

I would run far and fast from Capitol One..They just don't want to know what's in your wallet..but what you have so that they can take too...I had always heard that they will settle for 40-50 % not anymore they want 50-70% owed. When they buy these debts for .23-30 cents on the dollar...YOUR 5000.00 is now worth 7000.00 to them. When they paid 200.00 for the debt.

 


Could luck..Capitol One sued me won.100 %,then the attoney sued me,for suing me and won.

Then the guy that sued lost his license for bad collections..no longer can practice in Oregon.

He than sold my debt to a new guy...so my debt started all over again.

I would run far and fast from Capitol One..They just don't want to know what's in your wallet..but what you have so that they can take too...I had always heard that they will settle for 40-50 % not anymore they want 50-70% owed. When they buy these debts for .23-30 cents on the dollar...YOUR 5000.00 is now worth 7000.00 to them. When they paid 200.00 for the debt.

 


I spoke with them today, they won't settle for less than 50%. I asked them if they have a hardship department and the guy said you're talking to it. He said that if they don't hear from me by next month they will either send me to collections or an attorney. Anyone has any suggestions?


I have settled my debt with Capital One. I didn't face much difficulty. I was able to settle the debt by paying 50% of the owed amount. 


Hi Soaplady! The letter was from Capital One.


DO not send them a letter....call to enquire on a settlement.  The pre-lit letter...was that from Cap One or a law office?

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

You will probably be able to settle with the collection agency or in court, before you settle with Capital One. They have collection companies they work with and if you are not  able to settle with them, they'll asign your account to a collection agency. I have tried to settle with them, and have received answer to settle for about 60 % of the amount they claimed i owed (including late fees). At that point the account was in hands of a collection agency. You might be able to settle for less than what they claim you owe to them, if your amount includes fees and also to make payment schedule.

Send them a settlement letter.

 


 A lot of people settle with them.  Search the forum.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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