General Discussion
In reply to the discussion: Capital One's new contract says it can show up at cardholders' homes, workplaces [View all]brett_jv
(1,245 posts)I maxed out the card because I lost my job about 1 year after I got it (had been making payments on time for that year) + I had health problems & simply couldn't pay them ... it's OVER 9 years since I charged anything on the card ... they never could sue cuz they couldn't find me (I moved out of state) & now they're past the statute of limitations to do anything, though they've finally actually found me ... now they contact me ALL the time.
IOW, almost 10 years later, Capital One STILL has this collection agency after me, mailing me, calling me ... I offered 'em $225 to settle, the LEAST they would take to settle was $575 (even though originally I only borrowed $500) and taht was after multiple counter offers and a woman on the line who was clearly desperate to 'close the deal' but that was the absolute lowest she could go ... we'll see how that all shakes out, I suspect I'll hear from some 'manager' pretty soon who's willing to take my low-ball offer but ... who knows.
They have absolutely ZERO leverage on me ... my credit is pretty much shot to begin with because of a very rough few years around that time (including some large tax liens) so it's not like I 'care' that much about clearing up this debt (honestly don't need 'good credit' for much of anything ATM), plus they're years past the SoL, plus the credit agencies SHOULD remove the negative info re: this account anyways (>7 years) ... and yet still the collections people think they're going to get back every cent I borrowed and then some ... I just find it humorous that they think the ball is still somehow in their court ... these guys oughta take WHATEVER I'm willing to give them at this point, cause they got NOTHING in the way of recourse. Almost positive the collection agency contacting me didn't even get account until after the 7 years had passed, so they probably 'bought it' from Cap. One for like pennies on the $$$.
I'm presently in the process of telling the credit agencies to remove any negative info coming from that account since it's been > 7 years since any activity has happened ... we'll see how that goes. In theory, they will do as I asked because I believe that's 'the law'. I'm hoping once Capital One (or the collectors) get a notice from all the credit agencies saying 'prove that there's been acct. activity in teh past 7 years else we remove the negative marks' and they discover that they CAN'T provide such proof (and hence any negative's on my credit reports will disappear), they'll come to their senses and accept my generous offer
AFA this actual 'story' goes, I hope EVERYONE that can possibly get out from under their tyrannical yoke by moving their debt to other cards or just paying them off DOES SO, because THIS?!? Is some serious bullshit ...