Just so ya all know. MR. Cooke from Capital One actually called me back. I sent him a letter thorough www.planetfeedback.com He got back to me the next day, so far I was impressed. Since I already had a charge off, there was nothing he could really do. However, we did come to a new settlement of $300. He basically wiped out half of what I owed. He also said my credit report would read paying as agreed or settled. It sounds like I probably would have gotten the same deal through normal channels. But I am definitely impressed with MR. Cooke. Donâ??t expect miracles with him, be honest and donâ??t deny anything. Heâ??s not an idiot; he already has pulled your credit history. He works for Capital Oneâ??s Executive Office. He was appointed by the CEO to handle all of the Internet inquires. He does have more power than the average customer service moron. Later Tincup
Well, Iâ??m going to send a letter to them along with my check. Stating that if they cash this then they agree to certain terms. One of which is to put on my credit reports, paying as agreed. If they donâ??t agree then they can return the check. Trust me they will take the check. As far as I know, stating these terms in a certified letter is a legal agreement; if they cash the check. A phone call just wonâ??t do it, even with someone like MR. Cooke. Tincup
You need to make sure that this is legal in your state. some states don't honor that type of contract.
Yeah, be careful with that. It probably states somewhere in your agreement that they are allowed to cash checks marked paid in full or postdated without actually having to honor what you put. When you originally accepted the card there are somethings in the contract that may legally be able to override anything you put that is contrary to it on the check. Look over the agreement very carefully before doing this.
