Sent off my second Planetfeedback letter to Capital One last week and within thirty minutes, Mr. Cooke called me on my cell. To be truthful, I discovered that I gave him the wrong number on my first PFB letter. He gave me an offer that I couldn't refuse in regards to my biggest obstacle to home ownership, an $850 Visa chargeoff. The offer was to settle for $270.00 to be paid by May 3rd and in return, all three bureaus will be updated to reflect account as such. I know I should have probably tried to improve the credit standing in exchange for payment, but in talking to the guy, I felt like taking the offer and running. I never felt so happy and so at ease talking to him. This is the biggest bill that was unpaid that I had, so with only one collection account and one credit card chargeoff to go, things are looking up.
Make sure you endorse the check: "This courtesy payment does not signify acknowledgement of any debt". This, BTW, would not be a restrictive endorsement. Saar
tsaul, Way to go with Cap One, and good luck on the rest of your home-buying preparations. Don't feel too badly with the terms of your settlement w/ Mr. Cooke...that sounds pretty consistent with other settlement offers I've seen posted here (in my case, it was $200 for a ~$750 charge-off, "upgraded" from an R9 to an R5). wajaba
The status on my EX report says "Paid in settlement / Past due 150 days" along with a creditor's statement of "Account legally paid in full for less than full balance." EQ shows 150 days past due with a $0 balance (somewhat contradictory) with a "was R9" in the comment area. worthknowing.com / TU shows $0 balance, $0 past due, no delinquency dates(?). wajaba
Capital One does not report limits. Dispute the entry with the CRA, on the ground that the credit limit is incorrect. Say in your dispute that if they're not able to report COMPLETE and ACCURATE information, they are to remove the entry or prepare to litigate. Saar
Saar, While I always read your posts and value what you have to say, I am curious why you would advise anyone how to endorse/modify a check. This is giving legal advice. If you are an attorney, you should so state. If not, you should put a disclaimer in such advice that your suggestion is only your opinion. H
Participating in a board means accepting its Terms of Service (TOS). Mine was not a legal advice. A disclaimer is already provided in the site's TOS section 17(d). Saar
BigH... Saar's not the first non-lawyer to suggest endorsing checks a certain way, and I'm sure he won't be the last. Moreover, advising people how to endorse checks or send validation letters or crafting FCRA-compliant dispute letters all qualify as legal advice. However, none of these hardly compares to someone advising, for example, that they should take the following steps: Within five days, execute a new Agreement, whereupon the Plaintiffs and Defendants shall take all necessary actions to resolve the pending lawsuits in the form of a stipulated judgment that dismisses all complaints and cross-complaints against the Individual CRA Defendants with prejudice, the causes of action against the CRA in the complaints that seek declaratory relief or similar relief from billing (notwithstanding any similar causes of action in any other complaints) without prejudice, and all other causes of action against CRAs in the complaints. Next, go ahead and enact several dismissals which shall be vacated upon motion by any party upon a showing that the CRA and the debtor (you) cannot agree on the number or manner of disputes within one year from the date of sending the first validation letter, or any extensions of that limit, with a request to the Court that any trial of those actions shall be expedited.  Any stipulated judgment arising from these actions should also provide that the Court maintains jurisdiction to enforce the terms of this settlement agreement, with any party having standing to apply to the Court for enforcement. In the event that a motion is made to vacate the dismissal, you should resend a stipulatory validation letter and retain relator status. REMEMBER: Do not refile a lawsuit. Finally, make sure you endorse the check: "This courtesy payment does not signify acknowledgement of any debt." This, BTW, would not be a restrictive endorsement. By your standard, all of us should attach disclaimers to practically all our postings which would serve as constant mutual reminders that none of us are lawyers. Yours in law, Doc
Makes sense...good idea. I do have another question, though, and I'm not trying to be facetious or argumentative or anything: by the reasoning in Saar's post above, would we then have a basis on which we could dispute every single last credit report entry, since the CRAs seem to report dollar amounts in whole numbers only? True, it sounds silly, but I was really wondering if the FCRA makes any legal distinction between "accurate" and "accurate enough for reporting purposes." Sorry for derailing another thread... wajaba
I this this is the major problem with this board these days. We used to be able to disagree without worrying that somebody would think that war was declared. People I like disagree with me from time to time, and I don't feel like they declared war. In fact, sometimes they're right, sometimes I'm right, and sometimes we all have something new to learn. Worry not, BigH: war was not declared, lol. Doc
At least from this board, he appears to be a very nice person at Capital One who seems to understand that if you work with people, most of those you work with will be good to you. I have a call into him as we speak and I'm waiting to hear from him. I'd like to e-mail him as well, that's why I'm waiting on an e-mail address for him.
Creditnet Glossary (for newbies) Posts #1 and 2 http://consumers.creditnet.com/stra...hreadid=19921&perpage=20&pgnum=1&pagenumber=1
He is the consumer advocate at CAP1. If you go to www.planetfeedback.com you can email Mr. Cooke by sending a complaint/question/compliment to Capital One. If you would like to call him directly, you can at 1-800-955-1455 ext. 6418. Good Luck
