n2deep Posted August 30, 2007 Report Share Posted August 30, 2007 I told Capital one that i would pay what they say I owe in full if they agreed to change the listing to Account Closed paid as agreed and remove any indications of late payments on the account.The rep told me they could list as paid as agreed but could not remove any late payment information. Is that correct or should I keep pushing for removal of the negative payment history. Link to comment Share on other sites More sharing options...
savymicheal Posted August 30, 2007 Report Share Posted August 30, 2007 Accept the damn deal that is the best scenerio you could have hoped! The late history is true so it cant be removed. Dont worry it will affect your score less over time and remember that paid is always better than unpaid!!!! Link to comment Share on other sites More sharing options...
n2deep Posted August 30, 2007 Author Report Share Posted August 30, 2007 OK. Thanks. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted August 30, 2007 Report Share Posted August 30, 2007 Crap1 will not negotiate a PFD, however, don't tell them you can PIF, tell them a sob story and they will give a a PAY FOR LESS THAN FULL BALANCE which is no worse and it keeps them from continually updating you as derog. Link to comment Share on other sites More sharing options...
RayvonTCO Posted August 30, 2007 Report Share Posted August 30, 2007 What was the account before it was paid as agreed? Link to comment Share on other sites More sharing options...
miracle Posted August 31, 2007 Report Share Posted August 31, 2007 Crap1 will not negotiate a PFD, however, don't tell them you can PIF, tell them a sob story and they will give a a PAY FOR LESS THAN FULL BALANCE which is no worse and it keeps them from continually updating you as derog.Of you can try to negotiate a settlement in which you are paying less than the full balance and request as part of the terms of paying this sum that your account be listed paid as agreed... Link to comment Share on other sites More sharing options...
hopelesscred Posted August 31, 2007 Report Share Posted August 31, 2007 Geez....no such luck with crap 1....are they going soft?....maybe I should write another letter....was this a Charge off?? Link to comment Share on other sites More sharing options...
n2deep Posted August 31, 2007 Author Report Share Posted August 31, 2007 ...was this a Charge off??YesOf you can try to negotiate a settlement in which you are paying less than the full balance and request as part of the terms of paying this sum that your account be listed paid as agreed...I started by saying I could not pay the full balance and he immediately offered me a 65% settlement and I'm sure I could take that lower. However he would not move from the listing being changed to "settled" and that is not what I want. At the moment they will only list it paid if I pay in full.I am going to try for 80% with a paid as agreed listing. I will report back. Link to comment Share on other sites More sharing options...
Longshot Posted August 31, 2007 Report Share Posted August 31, 2007 Whatever they agree to, get it in writing. Don't trust anything anyone on the phones tells you. Link to comment Share on other sites More sharing options...
TSorad Posted August 31, 2007 Report Share Posted August 31, 2007 you should try to pay the lowest amount possible and then try disputing off your report after a little time as passed. Even with paid in full it will still show the negative such as co and lates.paid for less is probably just as good Link to comment Share on other sites More sharing options...
mrprofesisonal32 Posted September 1, 2007 Report Share Posted September 1, 2007 I can tell you this. I settled with Capital One for alot less then they wanted. I can tell you I paid alot less that 50% on one of my accts. I have a settled on my report. I figured settled is better on my report than not. I hope when appling for credit, creditors see this and see I'm trying to clean it up and give me a brake. An I am going to send a DV to Capital One and see if I can get it removed- Wish Me Luck!!! Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted September 1, 2007 Report Share Posted September 1, 2007 I can tell you this. I settled with Capital One for alot less then they wanted. I can tell you I paid alot less that 50% on one of my accts. I have a settled on my report. I figured settled is better on my report than not. I hope when appling for credit, creditors see this and see I'm trying to clean it up and give me a brake. An I am going to send a DV to Capital One and see if I can get it removed- Wish Me Luck!!!I have a settled with Crap1 too and I haven't had too many problems getting credit. It's also better than having them update monthy as a new derog. Most of my problem is that I don't have enough credit, however, I now have Macy, Target, Ocrhard, WaMu, Walmart, new HSBC auto loan, Crown Jewelers and Hooters. Link to comment Share on other sites More sharing options...
charlanyc Posted September 14, 2007 Report Share Posted September 14, 2007 bigjohnstud4200 and mrprofesisonal32 - I'm settling with Cap 1 today through their Collection agency- ARS. Do I need to be concerned about ARS not reporting my account to Cap 1 as settled? Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted September 14, 2007 Report Share Posted September 14, 2007 bigjohnstud4200 and mrprofesisonal32 - I'm settling with Cap 1 today through their Collection agency- ARS. Do I need to be concerned about ARS not reporting my account to Cap 1 as settled?probably not, and definitely not if you get your settlement in writing first. 1 Link to comment Share on other sites More sharing options...
tdhssbn Posted September 16, 2007 Report Share Posted September 16, 2007 Capital One has 90 days to report your account as settled or paid once the collection agency they are using with you receives your money. I settled over 30 days ago. I called Cap 1 and spoke to supervisor who told me they have 90 days to fix your reports. Link to comment Share on other sites More sharing options...
charlanyc Posted September 16, 2007 Report Share Posted September 16, 2007 Gee-90 days is a long time. Link to comment Share on other sites More sharing options...
hasas13 Posted September 16, 2007 Report Share Posted September 16, 2007 First, you are in charge not them. You got the money that they want. Now play your hand. No lates, less payment and IN WRITING, BLACK AND WHITE. Talk to the supervisor. Be kind and do not raise your voice, do not let them see you sweat. Link to comment Share on other sites More sharing options...
JMVandals Posted September 16, 2007 Report Share Posted September 16, 2007 First, you are in charge not them. You got the money that they want. Now play your hand. No lates, less payment and IN WRITING, BLACK AND WHITE. Talk to the supervisor. Be kind and do not raise your voice, do not let them see you sweat. Seems like it could backfire demanding too much. They hold the cards and we get lucky. Remember, they have options to proceed with a lawsuit since you agreed you would pay back any charges you made to the card. Esp if OP is at a point where he wants to settle (no mention of DV - assuming it failed, and he said no PFD). I say, take the best deal you can get without upsetting them. Link to comment Share on other sites More sharing options...
tdhssbn Posted September 17, 2007 Report Share Posted September 17, 2007 You don't hold the cards. If you made the charges and they decide to sue you, you will end up with a judgement on top of the bad tradeline that already exists. The idea is not to be cocky and arrogant, it is to get the best possible result you can from a situation YOU made bad. Take the best settlement offer you can get. Don't listen to people who THINK they know what they are talking about. Link to comment Share on other sites More sharing options...
n2deep Posted September 18, 2007 Author Report Share Posted September 18, 2007 OK, so here is what happened in the last 2 weeks.When they sent the letter that I requested it said they would list the account "paid in full", I called back and said change the letter to reflect our conversation which was that for a full payment you would change the charge off status to Paid as agreed. He said they cannot do that as it is illegal to change accurately reported information. I told him we are making a new deal now and that when I pay it they can accurately report as Paid as agreed, but he would not budge.I'm not sure if 1) He is full of it and if I stick with it they will change the listing, 2) I should pay the full amount and get a Paid Charge off listing, or 3) Settle for a lesser amount and get a Settled Charge off listing.Any comments would be appreciated. On a positive note, I validated with NCO and had 3 accounts drop off my reports. Link to comment Share on other sites More sharing options...
hopelesscred Posted September 18, 2007 Report Share Posted September 18, 2007 Crap 1 will not change the listing IMO...if your account is well within the SOL, I would settle for as little as possible. I am dealing with them now. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted September 18, 2007 Report Share Posted September 18, 2007 OK, so here is what happened in the last 2 weeks.When they sent the letter that I requested it said they would list the account "paid in full", I called back and said change the letter to reflect our conversation which was that for a full payment you would change the charge off status to Paid as agreed. He said they cannot do that as it is illegal to change accurately reported information. I told him we are making a new deal now and that when I pay it they can accurately report as Paid as agreed, but he would not budge.I'm not sure if 1) He is full of it and if I stick with it they will change the listing, 2) I should pay the full amount and get a Paid Charge off listing, or 3) Settle for a lesser amount and get a Settled Charge off listing.Any comments would be appreciated. On a positive note, I validated with NCO and had 3 accounts drop off my reports.Crap1 are sticklers about that. IMO, I would settle for less if you are still within the SOL. Crap1 is known for suing right at the end of the SOL and if they do that, they will go for the gusto. Link to comment Share on other sites More sharing options...
n2deep Posted October 10, 2007 Author Report Share Posted October 10, 2007 After exhaustive efforts I can say for sure that you can not negotiate any changes to your credit report with Capital One. I decided to settle for 50% and will try to dispute it with the agencies to remove the line from my report at a later date.On a positive note again, I had 2 more dv successes with Credit Protection Associates and Allied Interstate. Also my equifax score has gone from a miserable 490 in July to 576 today.My next account to attack is with Applied Card Bank. However on my report I see Date of Last Payment 01/04, Date of last Activity 10/03 and First Major Deliquency 03/04. Which one is the start of the SOL. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted October 10, 2007 Report Share Posted October 10, 2007 My next account to attack is with Applied Card Bank. However on my report I see Date of Last Payment 01/04, Date of last Activity 10/03 and First Major Deliquency 03/04. Which one is the start of the SOL.First Major Delinquency Link to comment Share on other sites More sharing options...
charlanyc Posted October 15, 2007 Report Share Posted October 15, 2007 Capital One has 90 days to report your account as settled or paid once the collection agency they are using with you receives your money. I settled over 30 days ago. I called Cap 1 and spoke to supervisor who told me they have 90 days to fix your reports.This is what I'm experiencing..Its been 30 days and I havent heard anything or seen any changes to my CR Link to comment Share on other sites More sharing options...
Recommended Posts