Has anyone here settled with Mr. Cooke from Cap1 on chargeoffs? If you got the same deal as I did (changed from r9 to r5/settled) have you tried any tactics to make the credit reports look better? I don't want to have this stay on my reports for 7 years. Anyone been successful in getting the negative improved or changed to r1. Please let me know if you have and what you did. BTW, my chargeoff was recent (7/2001). Thanks!
I would also like information about settling with Cap One. The actual amount of the bill has now TRIPLED with fees/interest, etc...I would love to hear from people who have sucessfully negotiated with this company. Thank you! Maureen
I got the same deal with Mr Cooke. I decided that I would experiment and do it my way (stubborn German). I have disputed with the CRA's and so far I have gotten them all down to an R5. So I have saved myself the settlement $ already. I still am disputing the account for deletion or paid as agreed. It just takes time. Charlie
Yes, and it backfired terribly, at least in my case. After my settlement went through, and I confirmed that the rating had in fact changed from r9 to r5 (and with a zero balance), I disputed the entry as Never Late. About three weeks later, the entry was changed back to r9 with "was r5" and "account closed by credit grantor" notations; the zero balance and DOLA remained unchanged, thankfully; they added another 90-day late for my troubles; and my score dipped by about 15 points. So that's what I got for trying to be cute, I guess. Luckily, after another sheepish call to Mr. Cooke, who should at the bare minimum be awared the Legion d'Honore, the matter was straightened out, for the most part. wajaba
Don't mean to sound ignorant, but are you guys calling Mr. Cooke direct, or just calling the CAP one service center? If you are calling Mr. Cooke, or someone that seems more willing to help in these matters, would you share the phone number? They purchased a charged off debt of mine and then reported to the CRA's, thus reagging the line item and giving two entries for the same debt where I used to only have one. I want it off my report, but I am not getting anywhere with the customer support center. Be careful if you ever get a offer in the mail from Cap 1 to give you a credit card with an old debt balance on it from some other creditor. It's a good way to get a card, but they screw you by adding a negative item to your credit report.
