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negotiating with crapitalone


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I have a chargeoff from last year to 1.5 years ago of a 200 dollar limit now 550 bux. (B.S.)

It has been assigned to Global vantage. i sent a DV letter 3 months ago and havent got a responce but now I have the money to negotiate.

I won't pay one cent unless I get a delete or "paid as agreed" --->not likely that one

Who do I talk to and anyone have advice?

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I'm not an attorney but I do have some experience with Cap1 and don't have very good news for you, I'm afraid.

Tried to settle several accounts with them but they wouldn't give me the time of day until they filed suit. Then, they negotiated to even less than I had originally offered them pre-filing - go figure. I had them sign agreements before I paid - on one account, they even agreed to delete. (I think they just missed that item in the agreement.) Now, the hardest part - I am trying to get them to comply. They have continued to add interest to the balance of one account and have even assigned two CAs to try to collect the balance, although I have a dismissal with prejudice and a release on the debt. Even baddie NCO knew Cap1 was wrong in this instance - they rabbited and even removed their two inquiries when I sent them copies of the paperwork on the non-existent debt they were trying to collect for Cap1. Right now I am going through the three dispute process to give Cap1 their opportunity to correct their errors. (Right. I am really collecting violations for false reporting as they are continuing to verify the information to the CRAs.) I'm afraid I will have to file suit against them for breach in order to even try to clean up this mess. What a pain.

Best of luck to you, but I have stacks of unanswered settlement offer letters written to everyone and anyone at Cap One. In hindsight, I wish I had just saved the CMRRR fees and waited for the summons. I refused to work with their CAs and wrote them a settlement offer directly every time I was contacted by a CA. If I were in your place with a debt for this amount I think I might just pay it (I know, heresy - lol). If that's not an option you would consider, I would send a full C&D to the CA to get them off your back and an offer letter to Cap1 telling them you refuse to work through any CA. If they answer, fine, but don't hold your breath. (You are kind of stuck as they love to verify their TLs to the CRAs forever so you most likely will not be able to dispute this mess away, either.) Then I would wait to see if they even considered filing for this amount. IF I got a letter from a local law firm/ collector assigned by them to collect or file, I would get serious about settling then, blustering that a suit would be very frivolous as you have made many good faith efforts to settle the account but Cap1 has ignored you. (Save all your letters and green cards) The bluster may be good for a few more bucks off the settlement amount but it most likely won't make it go away - if they can't settle they will sue when it gets to this stage. But, in my (limited) experience, judges do not like their courts cluttered with low dollar amount suits where the defendant has made a good faith effort to settle and the plaintiff is being stubborn over a few bucks. That's probably why Cap1 does settle when things get to the lawsuit stage. They really don't want to go to trial or get the judge involved in the settlement negotiations. Their philosophy has been very different than Citi who will hold you up for a $10 difference and say "see you in court" - even if the judge will give you a very generous payment plan that will take them a lot longer to get their $$. Just be sure you appear for your calls and get your dismissal with prejudice after you settle or, if you settle before they file, get a signed agreement (so you have something to chase them with later - lol). But, do the follow-up, don't assume their attorneys are taking care of things for you. Remember, they are looking for the quick judgment win or the dismissal w/o prejudice which means they can come after you for the balance - the defendant who does not show up gets what he gets.

I'm afraid that Cap1 is like the gift that keeps on giving - they will continue to add interest to the debt yet they don't seem to have an appetite for settling it directly (at least in my case). If they don't move to suit, you could hang on and wait to see if they sell the debt and then try to outfox the JDB. But by that time the debt amount could double. This stuff is exhausting and takes a lot of time and adds a lot of stress.With an OC, the road is tough, so carefully weigh the pros and cons of not paying this one off. I sincerely hope you have a better experience -

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yea, i figured itd be a good fight.

But, if you have a contract of them saying they'll delete after you pay, sound to me you got them on a much worse problem than you oweing them---- Breach Of Contract!

Thanks for the info, I am in texas which has very good consumer laws. plus I am judement proof right now. My 200 dollar limit is now 600...stupid! stupid stupid!

I think I'm in a good bargaining position right now actually. But like you say, will they bargain... guess we'll have to see. I have already sent a DV to their collection agency and havent heard from them since. (6 months ago nearly)

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The breach of contract, sue over in local small claims, and as recompence ask simply for a court ORDER to force them to delete the tradeline on your CR's.

In Federal ct, sue for $1K/month/CR/item... so 12 months, with acct status and balance listed incorrectly (ignore the fact NO listing should exist) means if on all 3 of your CR's... $1K x12 x3 x2 = $72,000. File in Fed Ct for this, citing the violations and seeking $72,000 in statutory damages... costs $150 to file. Ask for a jury, and expect a deletion and a settlement offer on the FCRA violations once corporate counsel gets the summons.

You have the agreement, you have your CMRR's on working with the CRA's to fix this on your CR, and you have the fact COne keeps verifying the itmes on your CR. They are in prima facia violation of the FCRA provisions. Worse, in MA for instance, knowingly placing derog info on a persons CR is a CRIMINAL ACT punishable by $5K fine and 1yr in jail.

Since they KNOW it is incorrect and derog info, and they still placed it on your CR, they are now criminals.... depending on your state. If YOUR state has such statutes, file criminal complaint with your local district atty, and the atty general. Send COne copies of the complaints.

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