adding interest and fees to an amount that they have already written off as a loss in the past?). Anyway, I wrote to Mr. M via PLanetfeedback about a month ago saying that I finally wanted to settle this debt. I say finally because all attempts to negotiate for the previous two years had been unsuccessful due to my phone calls being put on hold for 40-45 minutes at a time (I have very little patience), no one returning my calls, and my letters being conveniently ignored. I received a reply from Mr. M today in the mail and wanted anyoneâ??s advice on what I should do. Capital One is agreeing to settle my debt for half of the current amount $1625, or only $812. I am expected to pay this amount by July 31st or the settlement will be null and void, with full responsibility of the entire amount of $1625 to be mine with no further chance for settlement in the future. WHAT??? GRRRR!! In addition, upon payment of $812, Mr. M says Capital One WILL NOT delete the account from my credit reports (WHY?) but will instead update my file to show an R5 rating or paid in full. WOW THANKS! *sarcastic of course* And on top of all that, get this...because the amount owed and the amount offered for settlement is greater than $600 (itâ??s $800), Mr. M writes that Capital One is required by federal law to furnish me with a 1099 form. I quote, â??Any difference greater than $600 is considered taxable income.â? CAN YOU BELIEVE THIS? Now, paying the $812 is no problem, though I donâ??t think I could swing paying anymore. But it still is alot of money for me (Iâ??m only a college student) and if I am to pay it, I want it to be worth my while, a.k.a. getting the charge-off permanently deleted from my reports. Iâ??ve heard from others that Capital One refuses to delete, but I thought that was because their circumstances differed from mine. I see now that I was wrong. What should I do? I plan on calling Mr. M on Monday but can anyone give me advice on which angle I should approach this issue from? I want this deleted. Why is Capital One so damn adamant about not deleting, with me or anyone else for that matter? I know plenty of other credit card companies do it; in fact, I just finished paying AMEX in April and they deleted without hestitation when I wrote them and asked them to do so. Can someone help me please?