Capitol One charge-off

Discussion in 'Credit Talk' started by problems, Jul 13, 2001.

  1. problems

    problems Member

    Hi all,

    (If you want the short version, please scroll down to the ----------- line.)

    I just recently stumbled upon this site, and it seems to be a community full of great information and help. I hope someone can offer some guidance for my situation.

    I have managed to keep my credit decent until about 6-7 months ago, when things fell apart fast, financially and otherwise. Recently I received a letter from Capitol One stating that my account had been turned over to Academy Collection Services in Philly, PA. When I called ACS to discuss my options, the rep. (who was quite rude and made assumptions about my situation, but I guess I don't really blame his actions considering the nature of his job)


    [The collection agency rep] told me that even if I pay in full, he would not be able to delete the collection agency's entry in my credit report.

    At this point, should I stand firm and let him call me back, or should pay in full, then try to dispute later with the CRA's using validation letters, etc., as others on this forum have done?

    I would much rather talk to Capitol One, but when I call their number and enter my CC#, it automatically transfers me to the collection agency. Is there a way I can avoid dealing with the collection agency?

  2. problems

    problems Member

    Can anyone share any similar experiences with Capital One or this Academy Collection Services?

  3. bbauer

    bbauer Banned

    Don't ever deal with a collection agency over the phone. Make them put it in writing and mail it to you.

    Here, my answer to you is YES!

    Don't even think of paying them one crying dime. That is like shooting yourself in the foot with a double barreled shotgun. Both barrels at the same time.
  4. problems

    problems Member

    Bill, just saw this message. Thanks.

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