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In need of advise in replying to Capital One


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 He is advising me to call the collection agency that has the Capital account, tell them my story about not having assets,only income is Social Security and not to mention mortgage loan I am trying to obtain and  to settle at 25% of balance, because these negatives have to be dealt with asap, in order to be able to close by Nov.   My question is, should I write a goodwill letter to Capital??  requesting them to remove the judgement and tradelines associated with my account, in hopes they would review my circumstances then and my income, along with documentation of my Social Security income (which is exempt from garnishment) 


Capital One typically does not sell their accounts.  WHO is exactly reporting the judgment?  Cap1 or another entity.


Capital One does NOT do good will.  Clearly your mortgage broker does not know their history.  Here is the problem:  they already know you are trying to get a mortgage.  They don't need you to tell them.  They pay the credit reporting bureaus for the names of consumers who they have judgments on or who owe them money to have the bureaus tell them when the consumer applies for a new car loan or mortgage so that they can collect.  They don't care that they cannot garnish you.  They now know  you want to buy a house and you can't as long as that judgment reports.  They do not typically settle for less than the full balance under the best of circumstances as they have a hard line policy of refusing to do so.  They also do not do good will.  


They do not care if you are on SSI they know you can't get a mortgage with that judgment on your credit and they have the leverage.  Your only hope is to have a lump sum amount to settle immediately and hope they take it.  You also have to move very very quickly as the odds on this happening to close in less than a month are very slim.

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Is being reported as public record...Judgement in favor of Capital One Bank USA and company collecting is National Attorney Network.


Okay, The National Attorney Network is nothing more than a referral source for law firms to represent creditors in suits against consumers.  They are not a collection agency they are the law firm that represented Capital One in the lawsuit.  You will have to deal with Capital One to clear up this judgment.  They might refer you to the actual law firm that tried the case but you would have to contact them to find out.


The judgment is a public record and as long as it is not satisfied you will not be approved for a mortgage.  

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My husband called Capital One  last week to settle an account of his, they referred him to a different collection agency and when we inquired about my account in judgement this is the company they said i had to contact the National Attorney Network.


Then they are letting the law firm that sued handle the judgment as well.  You will have to contact them but I still would not expect any different results.  Capital One is still the plaintiff and if they have told the attorneys not to settle for less than a specified amount they will not do so.


You essentially want them to walk away with nothing so you can buy a house and they are not going to do that.

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