Thread: Cap1 arbitration opt out

First post but have been reading for 2 years.Cap1 turned my account over to a CA.I sent a RRR validation letter.No validation(they signed for my letter),except now I get a letter from Cap1 adding binding arbitration to my agreement.I must sign an opt-out letter and give my account info to opt out.Isnt this the same as admitting I owe them?Did they send this out to all account holders or am I being paranoid?Also,since they closed my account at least a year ago,how can they be adding things like arbitration?

Trick-eeeee! I would send a letter stating the obvious... "why are you sending me this? What account do I have with you?" Then send copies of your validation letter and the green card from the post office. They are twisting things - twist back.

Send back the opt out agreement, but do not give the account number. Indicate in a separate letter included with the opt out notice that you do not accept binding arbitration for any account with them present or future. They do send out the opt out notices. I received one last year, you definately do not want to get cornered into binding arbitration.