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Capital One Any help appreciated


nervousinohio
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I have charge off from Capital One about two years ago. Never heard from them so far. About 4 months ago...NCO began harassing me about the debt. When I dv'd them....they said they were requesting validation from their client Capital One. Then about a month later...NCO says unable to obtain validation from their client and are closing the account.

Now I am getting a recorded message on my answering machine from Capital One Collections saying they need to speak with me right away.

Anyone experience this with them? Why wouldnt they provide the proper documentation to NCO? Im really nervous cuz the charge off was high and I dont have the money to pay them and I heard they dont settle well. I am afraid to DV them cuz Im sure they will come up with it.

Any info anyone can offer would be appreciated.

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How much is the debt? Dont answer them! The debt is small enough that they wrote it off and sold it to a collection company. This company dont want it now because the cant validate the debt. Capital one is probably calling you to try and get some kind of settlement. Now if you are in the position to pay it and want too then do it. But if your not then dont. This is probably there last ditch effort to collect before the sell it again or send it to an acuall attorney, if the debt is large enough. Let the statue of limitations run its course. Trust me they dont have the time to deal with it. Now I am not saying to try an scam them out of the debt, but did they scam you?? High interest rates, late fee`s on late fee`s.

The min you make contact and set up an arrangement you just lost your statue of limitations rights. They will get all sorts of information out of you, work, phone #`s bank accounts, employer. Again the key question is how much is the debt?? Over 3,000 over 10,000.00? Will depend on how aggresive they will get. Dont let this scare you. Remember even if this were to go to court. Judges hate credit card company`s. Tell the judge you may loose your job if wages are garnished and the judge will order a payment plan setup which they have to except.

Im not an attorney, so please dont take this as legal advice. I have been through this many times due to business problems in the past. Now I make it a point to study this, and try to pass along some helpful advice.

You need to, somehow, find out if they sold the debt or do they still have it and hired a collection company. If they sold the debt then it is my understanding that they have nothing to do with it anymore and they should not be calling you. Which leads me to believe that they still own it because they are calling you. Again it comes down to how much the debt is, which usually determins how they are going to collect.

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