Capital 1

I have a capital 1 card and about 160 days late. I lost my job and been trying to find work. In the meantime I was able to come up with about 40% of what I owe so I called them asking for a settlement and they said that there are none available that it is all done with a computer. Anyone settle with them? I have read that they are quick to sue. Do I just let it charge off? Please help! Thanks and God bless!

5 Answers

Hi! I am also in a similar situation getting close to charge off. I was told today that I can pay $300 to keep the account in the hardship department and that way it would buy me 30 more days. Has anyone heard about this? Would that hurt my chances of reaching a settlement with them?


Thanks for the responses but wouldn't they send me to collections first? I just don't have the money right now and cannot find a job. I have come up with 50% of it but they won't talk and I don't know what to do. I thought that if they take me to collections then I could possibly settle with them.


It means that they are not interested in settling the debt. I would not advise you to let the account get charged off. Try to pay off the debt asap. Borrow money or get a good job. They can sue you if the SOL period is not over. 


My previous poster is right. You may try to get help from a professional debt relief company. To choose a reliable debt relief company, you will have to consider some things, such as- company profile, reputation, accreditation, tenure, client testimonials etc. Look at this page to select a debt relief company: http://www.debtconsolidationcare.com/companies/usa-listing/


Contact a professional debt settlement company so that the professional debt consultant can effectively negotiate with the creditors. It often happens that the professional debt consultants are able to make them agree to waive off a portion of your outstanding balance.


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