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Cap One & Alliance One


sky720
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Hello Everyone,

I'm new to this forum and wanted to know what everyone thought of this.

I had a Cap One credit card which was charged off recently. (I haven't made any payments in 8 months). I owe Cap One appx. $3,000.

Alliance One called me today and said they are collecting on behalf of Cap One and they need payment now as Cap One will not wait another week.

I'm sure this is BS since they haven't received a payment in 8 months, what would this particular week make a difference. Anyhow, I told them I was having some financial difficulties and am trying to work things out with my creditors.

I told them that in order to do so I would need a copy of a statement showing what I owed and an assignment from Cap One showing that Alliance One is authorized to collect this debt.

The rep. told me that they already sent out a statement and they are only allowed to send only one out. I told her there was nothing I could do until I received the documentation requested. She then asked me for a fax # where she could send the statement. I told her I didn't have a fax#. She told me she would call me later and hung up.

I thought about calling them back later with a free efax # to see what or if they would actually send me documentation I requested.

I am worried about a possible lawsuit and would like to settle this if possible.

My questions are:

What is the probability of me getting sued?

What is a good amount to settle for on this debt?

Has anyone else had any experience dealing with this CA?

Your advice is greatly appreciated!

Sincerely,

sky720

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What is the probability of me getting sued?
probably pretty good... .

A factor they look at is the current state of your CR, are you behind on everything else or paid up.

What is a good amount to settle for on this debt?
It varies from CA to CA. CAn you afford to PIF with a PFD?

Has anyone else had any experience dealing with this CA?

Yes, they did not report the the CRA until after 90 days ( maybe that was state law, don't know)

I'd start communication with them asap. fax, write or e-mail.

Is this the first time they contacted you? Honestly!

Is yes, do a DV.

If no, requesting a DVing may prompt them to sue, so gotta be careful.

IIWYIW work out something.... either a PFD if you can PIF, or a payments for No reporting agreement.

A great internet/email fax is.. www.metrohispeed.com .. it's all done via e-mail.

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Hiblues,

Thank you for your response. Yes, this was the first time I was contacted by Alliance One. After speaking again with a rep at Alliance One. They agreed to fax me a copy of an assignment. However, when I received the fax it was only a fax cover page stating they needed my financial information. This whole thing seems a little shady to me. This weekend I received another call from a different rep at Alliance One stating to call her as she was authorized to offer a substantial discount.

Should I call her back and ask her to fax me a copy of the assigment before going any further?

or, should I just call her back and see what possible settlement she has to offer and go from there? Every time I speak with them they are hell bent on getting my financial info, checking acct info, where I bank, work info etc.. which I will not give to them.

Any advice on this one? Your comments are greatly appreciated!

Sincerely,

sky720

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I've got 3 things on my CR fom AllianceOne (traffic infractions i didn't pay). You seem to be well within any type of SOL...have you gone directly to Cap 1 and told them you'd pay them? Basically, will a PFD work with Capital one, so you can totally remove AllianceOne from teh equation? I'm doing that with one of my things - paying the OC (court in this case), they tell Alliance to bugger off. Then you can dispute the CA TL and get it removed....

That should work...

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