Hello There, Yes Capital One is selling old debts they brought from other collection agencies they may give you a credit card to help you out with your credit but they turn around and buy old debt and first they will try to issue you another credit card through them and now they just sold the debt to another collection agency to try to collect a debt that is more than 10 years old from the original creditor... what should I do here please advice... Thx, Kev
10 yrs old? What state? If it is credit card debt, you are past the SOL in every state. They can't legally collect it. Send a C&D letter - tell them to get lost and if they are reporting this on your credit report, tell them to get it off for good or you will sue them.
Well, I just received a letter from Cap One regarding one of my charge offs and their 'relationship' with the buyer (aka debt collector). The debt is 400. They offered to open a MC account and transfer the balance to the card, with only a limit of $200. The other $200 would be held in a 'special' account. What a blip (if that's a word, lol).
And all I can get from CAPITAL ONE is a "GOLD" card $72.00/year, limit $325-$3025 (or something like that)...
Hello There, Yes the agency is sending out the letter from IL, they are trying to collect a debt that is from 10 years ago I guess Capital One brought it and decides to sell it to them is for a old credit card account that is in CA... I know is out of SOL already and a C&D letter will go out to them on TUE... so far nothing is reported to the credit bureaus yet... but I am keeping a close eye at them.... Thank You for all of your help.... Thx, Kev
