Cap1 - seriously, do I even try?

Well, my hubby recently sent a settlement offer letter to Cap1, basically what you want-- payment for deletion. He has been paying this out slowly every month, but offered a bulk payment of the remaining amount for deletion in his letter. Today, we receive a letter essentially saying that they received xx dollars (November monthly payment) and the account is now considered paid in full and that his credit report will be updated to reflect payment in full. What this means-- I don't know, expect that it appears that they are settling for less than the full amount. No reference to changing the charge-off status or anything. Don't know if this helps, but thought I would post anyway.

 

Hey,

I don't have a chargeoff with them, but I can tell you from previous posters what has happened.

Mr. Cooke will work with you to pay on it, or pay it off, but he will not go higher than R5.

They will not delete for payment.

I cannot find a post that states they will delete for payment.

I have seen people say 'wait them out'.

The closer the debt gets to the SOL, or when it is getting ready to fall off your report, you will receive an offer from them to put the balance on a new card, effectively renewing the debt.
Be careful of these types of offers.

I am looking for a post of a man who disputed Capital one for almost a year to get them off, just to have them turn around and place themselves back on his report about 6 months later.

I wish you luck with them.

 

as I said in the other post, gofther, don't give up and try to get at least paid as agreed and deletion of negatives...deletion maybe too hard to obtain with cap1, but having a positive thing is still good to your score.

 

Someone was able to get Cap1 to go to paid as agreed for full settlement, but that was months back and I don't have the gumption to look it up... Point is, it obviously can be done.

 

I am a "Cappie" bustout. I tried to negotiate for deletion with cooke and a few others. I know all their names by now and they all me . I keep trying every other day in hopes of getting transferred to some Honcho that may want to get rid of me by offering something better than a paid charge off.
An R5 is just as bad as an R9. Settled in full is not the same as paid as agreed. This is what we all want.
When I call I ask for "payed as agreed" or pay to Delete. They will not do it. I only have less than
one year to go for SOL on the debt. I'm going to wait them out and try like hell to dispute it off.
I think I may have gotten them on a technicality
of balance discrepancies but I don't know how the CRA's will react to this. I have them on paper offering me to settle my account and they are off by a few dollars on what they are reporting. I will report
if this did the trick and get it deleted.

 

If your going to pay it anyways ask them to rehab it and reissue another card with the debt added to that one.. My wife had a charge off from them that was pass the sol... it was for 600 to 800... she recieved a letter last year offering this deal.. she accepted it... they gave her a new card with 300 limit maxed out... she still owes them 3 or 400 but she doesnt want to pay them for some reason... they did remove the old charge off info on her crs though... o btw the only reason i think they offered her this was because it was passed the sol.. by issuing her a new card with they restarted the clock and could go after her if she defaulted again...

 

If this is true, I stand corrected

I had always read/heard it couldn't be done.

 

Maybe CHOD will work for you. Charlie