Thread: Capital One / Collection

Hi, I'm new here and would like some advice if possible. I have a Capital One account showing as charged off on my credit reports (charged off 3/01). I've been receiving mail from a collection agency, Arrow, regarding this account. Arrow is not showing up on my CR and says that the account was assigned to them and they don't own it so Arrow will not put a separate tradeline on my CR.

I've tried to get Arrow to give me something in writing stating that if I pay the full amount owed ($824) then the Capital One tradline on my credit report will show paid and that they (Arrow) will not put an additional tradeline on my CR.

I want to do the honest thing and have tried; however, I just want to be assured that if I make payment that they also do the honest thing. This Arrow company will NOT under any circumstances send me anything, not to mention, they talk to me like I'm a child.

I've tried to contact Capital One to talk with them directly about paying them, but they continually send me back to Arrow. I can't even get anyone at Capital One to listen to me.

Does anyone have any advice as to how I can get thru to Capital One and try to work with them instead of those rude and demeaning people at Arrow?

Thanks for any advice.

Just to make sure that we understand what you want:

You want to pay the debt
You do not want Arrow to report the debt
Capital One will not talk to you
Capital One says that they still own the debt, it was not sold to Arrow

If this is true, then send your payment to Capital One directly. Both Arrow and Capital One could not report a balance if Arrow should decide to report. Are you trying to settle for less than the full balance?

Also, send Arrow a 'cease and desist' letter.

you'll have to deal with the CA if cap one says so..

If Cap one is showing your account is a collection/charge off, then paying it would show a paid charge off, whether or not Arrow adds their own record to the CR or not. In this case, I'd request validation.

If you're just behind in payments and the account is still open then they may be somewhat truethfull here. I've had open accounts "go to collections" and when i caught up my payments they never listed the collection on my CR (but then again, it was still "in house" collections and not a CA).

Is it true that a CA can't report a collection that they dont' own? or is a collection NOT a tradeline and Arrow is pulling a fast one here?

I'm sorry I don't have much advice or strategy for you, as I am in the same position with First Premier.

I have decided that since the OC is the one reporting my TL, they are the ones I will work with.

In my case, my unpaid C/O *has* to be paid to get a mortgage, so I plan to send the OC a check with the endorsement that 1. they delete the negitive TL, and 2. that its payment in full.

(Try searching for "WestCap" and "endorsement" and see if this is a tactic that might work for you.)

I'm still a little hesitant, but in my situation, I have exhausted validations and CRA disputes to no avail.

I must pay this C/O one way or another, so with this endorsement approach there is HOPE the outcome will benefit my score as well.

please let us know how you resolve the situation. thanks.

peace,
delilah

i just reread your post, noticed the account was in fact a charge off. If you just send cap 1 a check, you still have a "paid charge off" listing to deal with.

My opinion: don't ignore Arrow, work with them over cap1. unlike Cap 1, arrow is a CA and accountable to the FDCPA. Get these guys on some FDCPA violations and settle with them paying Cap 1 for you and removing the cap 1 TL. Just my 2 cents, see what others have to say.

Originally posted by delilah131

I have decided that since the OC is the one reporting my TL, they are the ones I will work with.

In my case, my unpaid C/O *has* to be paid to get a mortgage, so I plan to send the OC a check with the endorsement that 1. they delete the negitive TL, and 2. that its payment in full.

I'm still a little hesitant, but in my situation, I have exhausted validations and CRA disputes to no avail.

true, westcap might be a good idea here.
You say you've exhausted validation and disputes. Does this mean they did everything correctly? if you've got them on violations, then it's time to put the heat on them I'd think.

Originally posted by jason_l
true, westcap might be a good idea here.
You say you've exhausted validation and disputes. Does this mean they did everything correctly? if you've got them on violations, then it's time to put the heat on them I'd think.

Unfortunately for me, everything went appropriately. This was a relatively recent charge-off and not much of challenge for the OC, I'm afraid. :o(

But that's just where I'm at -- the original poster, clegg, should probably explore validation efforts, as well. The westcap, I think, should be a last resort.

peace,
delilah

Link to thread on Westcap endorsement