Received a ltr from a CA 3/4 weeks ago collecting for CapOne, I sent a validation ltr to the CA and CapOne responded to the Validation ltr saying it is reviewing my dispute. This morning I received a ltr from CapOne with a copy of my application and the last three statements sent to me. In the ltr from CapOne it said I have to work with the CA. Is this debt validated? I am currently checking the amounts/balance maybe I can dispute it. But more importantly I want to settle this crap with CapOne but will they send me back to settle with the CA? Any thoughts on this one?
You need to check your credit reports to see if the CA is reporting the collection. If they are you need to negotiate with them for a deletion on all CRA's. If they are not reporting to the CRA's I would send the CA a cease and desist letter( the one that says you choose not to work with CA's ) CRRR and then contact Capital one and try to negotiate the lowest possible settlement. Usually Cap1 won't delete the derog tradeline but it's worth a try to ask. Do a search under Cap One, cap1 or Capital one to find posts about other people's negotiations with them. I must tell you that they are tough. You should also check for the statute of limitations in your state for collections if the debt is several years old. It may be uncollectable. Good luck
I also had a problem with Cap1. I had a charge off in 1999 and received an offer from them to reopen the account last may. I agreed only to discover that it was not the old account they just transferred the debt to a completely new card and left the old tradeline listed as a charge off. I have spoken with Mr. Cook and he is trying to help but the whole experience has me p.o.'d.
There is a nubmer of us here with this same problem. Since they will not delete without full payment, do you just settle and take the hit on the report? Or keep negotiating until a lawsuit falls on your lap? It's a tough question I've never seen a real clear answer to.
I guess my other questions will be.... Since I sent the validation ltr to the CA and CapOne (who is the OC) sent me copies of contract, Is the CA off the hook? If my validation ltr is for the CA then why is CapOne answering it? do you think CA knows that CapOne sent me copy of contract? Man, I am somewhat confused. My plan of settling is on hold...
Who is the CA? My account went to TriAdvantage who I'm pretty sure is Cap1 assigned CA. Maybe others can help with the whole assigned CA/validation senerio. Sounds to me like you have been validated.
Yup, Triadvantage is the CA. so far they've been passive. The thing is, I have my wife's FUSA acct with them too. I'm thinking there might be some kind of domino effect if I start settling with them.
Hi, After many phone calls and lots of hanging up and rude answers from them, I reached an agreement with Arrow, for Cap1 acc, but only as settled, but it's not done yet.(Payment has not been made) And, to my surprise, in the middle of this, it got deleted from Eq!! Still on TU, not in Ex...Got my fingers crossed it won't get back once the payment and the reporting is done...If I were you, I'd try , it all depends on who is in charge of your acc. mine was in the hands of the worst!! Good luck!
Arrow settled 2 accounts with me for my wife for about .35$ on the dollar. Now it is just a matter of getting the settled tradeline removed. I was usually able to get 35 to 40 cents on the dollar from all CA's by going into a long winded excuse as to her problems with paying the debts, (Her ex-husband owes maybe $50k in back child support), but not removal of the negative tradeline. The grand exception was the nutheads at RMA who are rather rude, lawless in general. Their final settlement is going to be .00$ on the dollar.
Go after RMA with the attempt to sue. They never validate are about as bad as Arrow. As far as Cap1, I called them up just to settle the account so that I can get a mortgage and they offered me 50%. I took it because I need to get it paid, but they won't get a dime until I get it in writing like they said I would. Surprisingly they were pleasant on the phone to deal with. My advise is to just call the OC and tell them you want to settle the account if you need to get it paid. I would rather not deal with a CA. RMA and Arrow are just thugs and money beggars. So document everything when dealing with these fools.
I'm a little foggy on this - with the assigned status and the CA not reporting.... If one settles with the CA, you can pretty much count on the rest of the debt being sold to another CA, right? In order to get it waived you'd have to settle with Cap1 and get a 1099 for the amount waived, no? Thanks!
