Ok Folk I need your feedback on this. Got a message from NCO today that " If I want Capital One off your credit report lets talk a 40 % settlement and it will be over with" This goes against everything I have read on this site and thats regarding Capital One never taking their tradeline off paid or unpaid. Do I call this person back and if so how do I cover myself. I want it off and I dont want someone coming back at me later for the rest...But i CANT BELIEVE SHE LEFT THIS MESSAGE ON MY MACHINE BECAUSE IT SMELLS LIKE A SET UP. yOUR THOUGHTS...HOW DO i RESPOND AND GET THIS STATEMENT FROM THEM IN WRITING ?? THANKS ALL i HAVE THEIR STATEMENT ON AN ANSWER MACHINE AND THAT SHOULD BE WORTH SOMETHING
MY THOUGHTS EXACTLY....IF IT WAS CRAP I NEVER WOULD OF LEFT THAT MESSAGE ON AN ANSWERING MACHINE..BUT I AGREE ITS PROBABLY BOGUS
Yes, if you pay them 40% or whatever it probably will be over with. Why not? They won't be trying to collect from you anymore so it will be over with and they will mark your credit report so that it is over with too. You can, of course accept that outcome if you choose to do so. It is your choice and you are the one that has to make it and no one else. If you choose not to take that kind of "thank you" note on your credit report in return for having done the right thing and paying what is demanded of you then you will simply have to do something other than paying for a derogatory that will not be easy to get rid of. Its up to you.
Unless someone from the OC (in this case Capital One) puts the pay for deletion agreement in writing (very unlikely?), its almost assuredly BS. The collection agency can and probably will delete their TL from credit reports (the only reason they post collection accounts to credit reports is for exactly this leverage) upon an agreed settlement, but they have little power to have the OC do the same thing. Tread carefully, get everything in writing, and good luck! -HDAlex
Hey Bill, This is Capital one we are talking about. I owed these people $300 and I disputed a late charge and refused to pay another dime until it was reversed. They refused and I had the proof that payment was in on time as it was paid via western union. Do the right thing ?? Give me a break. Its now up to $960 so it shows how they deal with disputes. Ever hear of the word PRINCIPLE ??
When you sent the payment, was it sent past the cutoff time for same day posting? Most companies have a cutoff time for Western Union, Moneygram, etc payments. If it came in past the cutoff, it would post the next business day, and you would wind up with a late fee. Did it post a day or two after you sent it, or did it post several days after it was sent?
I was never informed of a cutoff time either verbally or on the terms and conditions of the card contract. They gave a due date of the 20th and they got it on the 20th. Not sure what else I can say here.
And that was where you messed up. So you continued to refuse to pay????? Unless I am sadly wrong in assuming that you refused to take the hit and go ahead and work to overcome the late pay with future on time payments, then you most assuredly do need a break. You can dispute all you want to if you are on the wrong side of the argument. Maybe you weren't on the wrong side of the argument and I am wrong in assuming from your message that you were. But refusing to pay on an open account in good standing is being on the wrong side of the argument if in fact that is what you did. Again, I can only go by what your message seems to be saying. You cannot win some petty argument. You cannot win by arguing in court over the debt in most cases. You cannot win by arguing principles either before you get to court nor after. You cannot win by arguing principles. You cannot win by arguing Modern Money Mechanics You cannot win by arguing Notarial Protest. You cannot win by trying to argue that it ain't constitutional. You cannot win by arguing that gold and silver are the only lawful money of the land. You cannot win by any silly argument. You win by knowing the law You win by catching the other fellow breaking the law. You win by catching the other fellow denying you due process of law. You win by proving the court had no subject matter jurisdiction. You win by reason of his being unable to prove the debt. You win by virtue of legal arguments that are solidly based on the past decisions of higher courts. I have but try telling it to the judge. (LOL) Excuse me, but the process is simple. You win when the other guy breaks the law and that is the only way even if you have to help him in his efforts to do so. (LOL) Principle? Sure. It's the old principle of who gets there fustest with the mostest.
For most companies, the only cutoff time listed is the one for payments received via mail. I'm assuming you called them when the late fee posted to your account. Did you tell the rep that you were unaware of the cutoff time for express payments? Try to use the fact that you were unaware of the cutoff time as leverage. You might want to try writing to CapOne. Send it to their headquaters, which was in Falls Church,VA (they moved recently). Address the letter to Rich Fairbanks, CEO or Nigel Morris, CFO.
Well, not to disparage what either you or Lena have said, the only thing that counts is that they thought you were in the wrong and this is one of those times that there simply isn't any way of arguing about it. You get the lumps and you can either like it or lump it. And no, it isn't fair but that's the way it is. Life's like that sometimes.
I hear what you are saying. But what is the alternative? Sue them at the drop of a hat? There are things that we cannot as individuals control or do anything about without expending far more time and money than the battle is worth. Sometimes fighting just isn't practical no matter how much we would like to strike back. We have to choose our battles.
Snuffels, Are you saying that Capital One is incorrectly reporting your account history (ie that you were late when in fact you have proof via Western Union that you weren't) or are you just trying to get them to remove derogatory information that is most likely accurate? If its the former and they are falsely reporting a credit line in the manner you are suggesting, that constitutes willfull violations of the FCRA and I would most definitely raise hell. If Cap 1 is in the wrong this is one battle you SHOULD choose to fight. -HDAlex
From what I read, she paid the bill, but not in time for it to show up on the statement, so she got a late fee. Because of the late fee, no other payments were made, and the account went to collections.
I just settled a lawsuit with Capital One last month on their reporting of a paid account. I can't get into specifics but...They are paying my mortgage for me for the next 3 months! They have also changed the reporting from a paid chargeoff to a "Paid/Never late" account in excellent standing. I might add I had indisputable proof of their violations against me, they couldn't and didn't offer any defense. The litigation specialist at Cap One basically said how much and when and how do you want us to pay you? Can't get any better then that! Tac
tac - I realize you can't divulge the specifics... but i was wondering if you felt that others here have probably experienced the same violations with cap 1?
It one word, YES! Capital One in my opinion is the lowest of the low as far as some of their slimy tactics go. Capital One was one of my easiest cases to base a lawsuit on. Tac
