Anonymous Posted April 14, 2003 Report Share Posted April 14, 2003 My husband lost his job, one month after our new born which was the begining of some very hard finanical times for our family. I have this credit card with capitol one that I couldn't make payments on. I called them recently to begin payments (husband back at work) and found that the account was closed and sent to a collection agency. I phoned that collection agency to begin payments and and they gave me a settlement offer of ($483) stating that I have to agree to this settlement. I told them there is no way that I can afford to come up with this lump sum payments at one time. They didn't care, they were very rude and insist that I pay this amount asap. I asked about setting up payment arrangements but to no avail, they just keep pressing me about paying this amount of money all at once. At this point in my finanances, they may as well ask me for $1000. I simply don't have $483 sitting around. What should I do? Can they do this, and can they also refuse the payment plan that I offered? Please help. Thanks! Link to comment Share on other sites More sharing options...
wert Posted April 14, 2003 Report Share Posted April 14, 2003 Yes, they can refuse your payment plan.Write a C and D letter to them so they will at least leave you alone with the phone calls.Get everything-repeat-everything in writing when you talk to them. If you do end up settling, make sure-in writing-they agree to make the account as paid in full, no lates.It's a small amount, but sometimes they can cause you the most problems.Good luck Link to comment Share on other sites More sharing options...
sisflomi Posted September 5, 2003 Report Share Posted September 5, 2003 Wert you are so right. And the smaller they are, the more they seem to mess with your credit reports. Link to comment Share on other sites More sharing options...
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